Considering a remodeling project? While improved lifestyle, function and overall enjoyability are the most important factors when considering a home remodeling project, don’t forget to evaluate how the project will improve the re-sale value of your home. A portion of your out-of-pocket costs will actually add value to your home much like money in the bank.
The percentage of your project cost applied to the home value does vary by the type of work you are considering as well as your geography, neighborhood, and various other factors.
Again, we feel that your imagination and emotion-driven aspiration for a more enjoyable home is your best starting point. We also believe you will be pleased with the value you have added to your home.
Some projects with the highest recouped value are relatively minor projects like a front door or entry replacement
You may add value to your home exceeding 100% of the project cost.
A kitchen remodel is incredibly enjoyable in form and function and can recoup 70-85% of the project cost with increased home value
We got some recent numbers from Remodeling Magazine to illustrate this effect.
Make a room brighter and give it a larger appearance with a set of new French doors replacing a window. A project like this can be 75-80% recouped in home value.
In closing, we hope you find this information helpful when considering your next project. It’s great to know that a significant portion of the project cost will go right back into the value of your home along with the priceless enjoyment your project will bring.