Wednesday, January 9, 2013
Remodeling Magazine's Cost Vs Value Report 2011 -2012
It's all here, the 2011 - 2012 Cost vs Value Report and here's a direct link to the article: http://www.remodeling.hw.net/2011/costvsvalue/national.aspx. Every year Remodeling Magazine does a study: How much does the remodel cost? How much can the homeowner/seller expect to recover when the house is sold? The suprise is - no seller recovers the cost of the remodel when they sell! Remodeling a house in the hope that you'll recover more than the cost of your remodel is a myth. That's right, it always costs more to do the project than is recovered apon the sale of the home. But as a real estate practitioner I would rush to say, if you hadn't done the remodel, would the house have sold at all? Dated kitchen? Maybe not, or maybe it would have sold for far less than value, so don't stop thinking about that remodeling project just yet. Have a look at the report, adding a room in the attic? Hmmmm. Work smarter, have a look at last year's report, and know this year's report is due January 17th. I can hardly wait.