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HOME REMODELING COST VS. VALUE | Is Remodeling Your House Worth It?

Is Remodeling Your House Worth It?

Are you planning to install a brand-new entry door? Go ahead and install it. You will get back your money; and even a lot more when you sell it. As for adding a sunroom, your house will not have a good resale value; in fact, you’ll be lucky if you recover your initial investment.

Home Remodeling Cost versus Value Report

Cost versus Value report is released to the public on a yearly basis by Remodeling Magazine. The magazine is a US remodeling industry survey responsible for comparing changes in job costs against Realtor’s perceptions of how the improvements affect the resale price of a home. While we should not initiate all the renovation works with the sole aim of enhancing our home’s resale value (till we find that particular species of money tree), we have must pay attention to the underlying factor.

cost-v-value-knoxville-remodeling-home-house-2Where you Live Matters

Your place of residence makes a lot of difference in the cost/value ratio of your home. For instance, if you’re lucky enough to reside in the Pacific Northwest, you’re living in the highest price/value ratio all of the country’s nine (9) census divisions. As a matter of fact, all the projects in the five (5) states that border the Pacific Ocean recorded an average payback of an impressive 74 percent in resale value. On the contrary, the Mid-Atlantic States recorded an average tending to 47 percent. What a huge difference!

Effect of Mid-Range Attic Bedroom

In addition to a new entry door, another huge winner in the Cost Versus Value (CVV) Report is the installation of a mid-range Attic Bedroom. It has a 103 percent return rate.

Effect of Spiff Installation

And, a little kitchen remodeling (referred to as a “Spiff”) provides yet another great way of adding value to a home. In the Portland region, such an improvement adds a 94 percent return.

Intangible Effects

The survey does not mention the intangible effect of a new bathroom, kitchen, or even whole house modification, particularly for inhabitants who are intending to spend several years residing in their home. If you can model a space to be your space, and space you enjoy spending time in, it goes without saying that your efforts will add value as well.

Why You Should Entrust Your Remodeling Projects to Us

Are you wondering what remodeling tasks will work for you? Our designers have everything it takes to help you choose the renovations worth your time and money. The best part is, sitting down and going over your home remodeling improvements will not cost you anything at all.

With Knoxville Remodeling Contractor everything is geared towards helping you get a huge return on your valuable investments!