Recouping Remodeling Costs

Spring is a time of renewal. It is also the time many people think about remodeling.

Remodeling a home can be a great way to get the space you need. However, often times a remodel project does not pay when it comes time to sell your home. As Chart 1 shows, it is rare that the cost of a remodel is recouped at sale time. Yet, if market conditions are right for your type of house it may well pay to remodel.

For many people, a remodel is more than a pure financial investment - it is also an investment in the way you live. If you are thinking of a remodel, I’d be happy to discuss your plans with you. This way you will know if remodeling makes good sense for you in today’s real estate market.

For more information on this topic visit: http://www.realtor.org/rmohome_and_design/Articles/1001_costvsvalue_2009



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Statistics compiled by Coldwell Banker Evergreen Olympic Realty, Inc. from the NWMLS database. Statistics not compiled or published by NWMLS.