Remodeling: Cost vs. Value (helpful App for homeowners)
This recently released article helps homeowners consider the value add in remodeling before taking the leap. In regards to resale value, this report along with the App "Remodeling Cost vs. Value" may be a very helpful resource for those thinking of how to most efficiently increase the value of their home.
The APP breaks it down by region and then city. Once in your city, it is broken down by project type. The stats are helpful and interesting, however I personally wish it were ranked in order of most valuable return on investment without having to individually click through all of the project to compare the rate of return. However, the article does point out some of the more valuable projects year after year:
"The Attic Bedroom project is in the top 10 for the third year in a row, despite being the most expensive project in that group, averaging $50,148 nationally. One possible reason for the high value placed on this project, which is ranked third overall (72.5%), is that it is the least expensive way to add a bathroom and bedroom, and it does so within the home’s existing footprint.
It is also worth noting that Minor Kitchen Remodel is fourth overall (72.1%), two places better than last year. At an average cost nationally of just under $20,000, this project is the interior version of a replacement and includes new cabinet door and drawer fronts and hardware, as well as new countertops and appliances.
Not surprisingly, since 2004, when Minor Kitchen Remodel was added to the project list, it has been the best-performing K&B project in every year but one." Source.
Here are some other helpful Apps when considering a remodel: