Remodeling: Cost versus Value for 2010-2011
Recently, Realtor(R).org published their annual study on remodeling costs and the return on your investment. Sometimes sellers may consider doing a few renovations in preparation for putting your house on the market, but often times we’re not sure if there’s a financial value given to the seller for doing so. Usually there’s a definite aesthetic value in doing so and appealing to today’s buyer, but here are the estimates for recouped costs.
How numbers were calculated: Construction cost estimates are generated by HomeTech Information Systems in Bethesda, MD. They took into account construction commodity data, labor costs and then adjusted the baseline to account for regional pricing variations. The numbers don’t account for local and short-term fluctuations in supply and demand.
All of the numbers listed below are for the South Atlantic Region, which includes DC, DE, FL, GA, MD, NC, SC, VA, and WV.
This list is just the ones I found of interest. There’s a complete list of almost every project you can think of. If you’re interested in discussing your options, or whether you should pursue a renovation in preparation to sell, please contact me.