When homeowners make the decision to remodel their home, there are typically two things that are of utmost importance: How much will the project cost, and how much of its value can you recover later?
Each year, “Remodeling” magazine’s annual “Cost vs. Value Report” breaks down home improvement national data to give us in-depth insights into national and regional statistics.
How much homeowners can expect to receive from home improvements when selling their home depends on the job and the region of the country they live in.
The Cost vs. Value Report is a great starting point in discussions with buyers and sellers about the cost and value of remodeling but there are also factors that vary from house to house and sale to sale that impact “value”. These include: determining what updates are typical for the neighborhood, the quality of the work, and how important the improvement is to a particular buyer.
The West Coast stands out when one breaks down the Cost vs. Value numbers by census division. The Pacific division posted an overall cost-value ratio of 74.0%. That’s the highest bang for your buck in the nation!
To learn more, download your own copy of the Remodeling magazine’s 2015 Cost vs. Value Report here.
“Cost vs. Value” is a registered trademark of Hanley Wood LLC.