Remodeling Magazine’s Cost vs Value Report 2017 Highlights Some Noteworthy Ways to Invest Wisely in Home Improvements that will Add to Your Home’s Value
Every year Remodeling Magazine releases a report on the average cost of home improvement projects vs the amount those projects add to the value of the home. In addition to national trends, they also study specific regions and metropolitan areas, including the DC Metro area.
Here are some interesting things that the Cost Vs Value Report 2017 shows about our DC Metro area:
- A 2 Story Major Addition in the DC Metro area has an 80.5% expected return on investment, compared to 66.7% in the South Atlantic region as a whole.
- A Major Kitchen Remodel only has a 58.5% expected return on investment in the DC Metro area, vs 68.8% in the South Atlantic Region as a whole.
- Some low-cost, surefire ways to add value to your home are: Insulate your attic (158% return), Replace Your Garage Door (129%), and add a manufactured stone veneer to the exterior of the home (113.5%).
If you want to see the entire report, visit the link below:
In my opinion, this is one of the most interesting annual reports that is released for the home building and real estate industry. It can give you an honest idea of what home improvements are really worth, and inform your decisions on how to improve your home.
It’s good to keep in mind that every home is different. Even two homes that are next door to each other could have a very different return on investment for an identical project. There’s no substitute for having an expert give you a straight answer, and I’m always available to do so. Feel free to get in touch with me about anything related to home building and real estate.