With the housing market starting to recover, many homeowners are looking to invest in new remodeling projects.
The question is: What remodeling project is going to add the most value?
In the Hanley Wood / Remodeling Magazine – 2017 Cost Vs Value Report – you get a national and regional answer to that question.
The report, which has been published for more than decade, compares the cost vs value of 29 detailed remodeling projects.
The editor explains it this way:
“This site compares average cost for 29 popular remodeling projects with the value those projects retain at resale in 99 U.S. markets.”
The publication is written for professional remodelers, and the cost figures quoted are based on having the project completed by a professional contractor(s).
In his opening video, the editor of the publication Craig Webb states:
“Virtually all the projects covered here are too complicated even to dangerous to do on your own”
While I appreciate his concern for your safety, and mission to promote the professional contractors, many of the projects can and will be done by the skilled DIY’r. Thus lowering the ‘Cost’ side of the equation.
The cost and val
ue figures compiled are from 90 different markets from around the U.S. Therefore, the figures could be vastly different for your specific home. There are many variables at play in determining Cost and Value, but this report at the very least gives you a great list of projects to consider for your home if you’re looking to add value to your home.
Since there are many years of data collected you can check out this year’s trends and how they compare to prior years.
I”ll break down the numbers in a future post.
But Consider This!
One of the biggest takeaways is this. The projects that recoup the most value vs the cost all deal with the Curb Appeal of your home.
That’s why Step 3 in our Home Value Optimization plan is so important.
