Remodeling Cost vs Value ~ Returns on Home Improvements

Interesting stats Terry.  Were you surprised at all with the low return on investment of a home office remodel with so many working out of there homes these days?

Lola: I think it is a combination of buyers want the additional space and may not pay for the entire improvement but they won't buy the home if it doesn't have it. Still a good investment if you need the space. In this  market speed of sale is nearly as important as price.

I think it really depends on the area itself, some areas you can make money some you won't get any of it back when you go to sell

Nice post Terry, I agree with Eric.  It depends on the area what kind of returns one might gain.   A very expensive area - you can get a high return on adding a bedroom, in other areas, not so much.

I dropped by to say thanks for commenting on my post.

Eric: I agree but thats why we can be helpful when people are thinking of doing improvements that will add to value.

April:The 4th bedroom or an addition of an office to a three bedroom should get a high return in most areas.

Terry~ I think it is important for sellers to remember that general upkeep to their homes will not necessarily bring a higher sales price. That seems to be what I will struggle with here sometimes. For example, replacing the carpet or putting on a new roof or heat pump if it was needed. I think a lot of sellers believe they will get their money back on everything that they put into the home.

Brittanie: Agreed but "I just paid $4,000 for a new driveway" is sometimes difficult for sellers to accept that the buyer would not have considered the home with out the improvement. Good advice thanks for stopping by.