The New Remodeling Magazine is out with the annual Cost vs Value Report.
One of the most common questions sellers and buyers ask me is:
"Should I remodel or add on to my house?
Is adding another bathroom going to be money I can recoup when I sell?"
Even today’s buyers that are buying at 2000 or before price levels, need
to be smart about home improvements if they think they will be moving
in the next 10 years. It is always intriguing that some areas of the
country value some home additions more or less than others.
This report gives an estimation of the return and an approximate cost of
several common remodels, additions and rehab projects in the home. It
is specific to different regions of the United States.
2009-2010 COST vs VALUE REPORT
Since we are from Grand Rapids Michigan we have directed you to that page
but you can navigate to other areas of the country from there. We hope this
article is helpful in the decision making process, if you are considering a
home remodel or addition.
As always, feel free to call me about specific questions for your specific area.
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The authors of the this blog write about Grand Rapids Real Estate, the Greater Grand Rapids MI area, and what it is like to live in West Michigan. Grand Rapids Michigan is a vibrant, growing metropolitan area with a diverse business community, great medical research & services, numerous universities, plus lively arts and entertainment of all kinds.
We believe: Grand Rapids is a Great Place to Live!
Westbrook Realty Grand Rapids MI Real Estate
Contact Terry 616-292-7263
Terry...These valued added updates change from year to year, one year it's kitchens the next it's windows. With the green building products out we are doing more and more Geothermal heating systems
Terry--I love this report and how it breaks things down into different regions. Good information for all!
Steve, I do think that Green will get more important. The tax credit for energy should be extended.
Teri, I think the public wants this type of information.
Great to get this chart out there! I have had clients in the past that thought were surprised when I presented them with similar numbers - you just can't recoup as much as you put in!
Terry and Bonny, it's always interesting to look at these numbers. It makes you wonder how the flippers turn a profit.
Terry and Bonny - I would die to have a bathroom like that:-)
Leesa, In most cases they need to enjoy the addition or improvement and not do it for the return.
Patricia, In our are the builders are doing it and keeping busy at least they can sell them and make a little money.
Myrl. It is one of my current listing the whole house it fantastic.
The annual cost v.s value report is always great information to provide consumers. I have of course done the same:)
This looks like a great place. Must be "value"
your friend in Charlottesville Virginia!
Bill, We all need to promote the report I think clients want to see it.
Charles, Value is in the eye of the beholder. Everyone has there own idea of what is valuable to them.