Value of Home Remodeling

The 2008 Cost versus Value Report for home remodeling projects is now available. It ranks various home remodeling projects based upon the expected percentage of the projects cost that could be recouped when the home is sold. Keep in mind that these are national averages. Some of these figures would not be the same in Arizona. For example, it lists the addition of a deck to a home. In most Phoenix area homes there is a patio not a deck. A covered patio is much more valuable that a patio without shade. Costs for adding a patio would be different than costs to add a deck. Features included in the patio such as a built in cooking area would also affect value.

There are many factors which will affect how much you will recoup on remodeling. If you are planning on selling within a year, consult a real estate agent before engaging in any remodeling projects. The agent can advise you as to which projects will most help the sale of your home. If you are planning on living in the home for many more years, you should not expect to recoup the same percentage as if you sold your house within a year of the remodel.

2008 Cost vs Value Report