Cost vs. Value:
Which Remodeling Project Has Most Return in 2012?
{ Data shown from Remodeling Magazine, see link below to connect to their site & view all projects ROI }
Based on different regions of the United States, some remodeling projects add more value than others. In our region, East South Central & in the city of Louisville, two items were shown to increase the amount of money re-couped when remodeled.
Take a guess.....Major Kitchen Remodel? Master Suite Addition? Basement Remodel? Bathroom Addition?
None of those!
These two items would surprise a Realtor as the ONLY two remodeling
projects to increase the amount of return for 2011 & 2012:
1.Finishing off an attic bedroom in a midranged home
2.Replacing a garage door in a higher priced home
See More from Remodeling Magazine: Cost vs. Value
Now, this is not to say that doing a major kitchen remodel, or master suite addition, basement remodel, bathroom addition or any other updating is NOT going to get back part of the money you put into the project. You are likely to get 50% - 75% back with most other big impact remodeling jobs. Just knowing that you can not expect to get a return of all of your money is certainly a better mindset prior to adding all the bells & whistles especially if you plan to sell soon. As RE/MAX Associates agent know, it's a price war and a beauty contest. Get your home staged and price it competively.
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