Remodeling magazine's report on "Cost vs. Value" ranks which home projects pay you back

If you’re thinking about making some improvements to your home, according to Remodeling magazine’s annual “Cost vs. Value Report,” your best bet is to focus on upgrading the exterior of your home.  This report spells out the additions, remodels and replacements that will give you the ‘biggest bang’ for your dollar.

Examing the findings for New England only, the projects that resulted in the greatest return on investment (in excess of 80%)  were for exterior improvementst. The only interior improvements that returned similar amounts were those that were kitchen remodels.

Adding decks or patios and new landcaping - these were among the highest returns.  Theexterior work that recouped the least was a roof replacement, - roughly 65%. This may be because the market perceives this to be a repair of necessary maintenance (which they expect as a matter of course) rather than a capital improvement as are the former.

The cost recouped on a given project depends on many factors, including the cost of other homes in the immediate area, the condition of the rest of the home, and overall market conditions for that specific area. 

The survey reminds homeowners that the best course of action when planning any remodeling project is to consult a local remodeler about construction costs and to consult a real estate professional to look closely at the comps and market conditions in their specific area.

 Maureen McCaffrey

Office:  781-237-5000

Cell:  508-494-0811

email:  mmccaffrey@PinnacleHouses.com

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