Cost Vs. Value of Home Improvements 2013.

By
Real Estate Broker/Owner with DMK Real Estate & Property Mgmt Ct RE Broker 0789963

Cost Vs. Value of Home Improvements 2013.

Remodeling Magazine has its 2013 Cost vs. Value report out and it shows a positive sign for the remodeling industry with the national average of cost-value ratio rising for the first time in six years.

The national data of the Cost vs. Value report compares the average cost of 35 popular remodeling projects with the value of those projects retain at sale. You can view national data for the projects or go to regional data for a more detailed look as well as mid-range vs. high-range remodel values.

The report is broken up into nine regions for the United States:

  • East:                          Cost vs Value Remod Mag 2013
    • New England
    • Middle Atlantic
  • South:
    • South Atlantic
    • East South Central
    • West South Central
  • Midwest:
    • East North Central
    • West North Central
  • West:
    • Mountain
    • Pacific

 

 

  The ‘trend’ page of the report shows various charts such as:

  • Cost vs. Value 10 yr. trend
  • Cost Recouped by Region
  • Replacement vs. Remodeling and more.

 

Some of the 35 remodeling projects are:

  • Bathroom Additions
  • Bathroom Remodels
  • Kitchen Remodel
  • Two Story Addition
  • Roofing Replacement
  • Window Replacement
  • Garage Door Replacement
  • Front Door Replacement

 

 

David Popoff is a certified “Green” Realtor in lower Fairfield County, Connecticut.

cell 203-228-0646

email DavidPopoffCT@hotmail.com

 

 

DMK Property Management llc is locally owned company serving lower Fairfield County, Connecticut.

Specializing in Residential Property Management that can custom tailor a program to fit the homeowners needs be it short term or long term from rental management to full estate management.

 

 

 

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DMK Property Management, Darien, Ct.

 

David A. Popoff ~ Licensed Connecticut Realtor ~ LEED AP Homes accredited ~ Cell (203) 228-0646 ~

 ~ www.DMKrealestate.com ~ DavidPopoffCt@Hotmail.com ~ http://davidpopoffct.wordpress.com/ ~

 

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Rainmaker
195,045
John F Muscarella
RIVER FARM PROPERTIES, LLC - Plymouth, MA
Broker/Owner, Plymouth County / Cape Cod, MA

Good post David.  I try to remind my clients of this each time we get into renovation discussions and getting your money back. 

Jan 23, 2013 07:11 AM #1
Rainmaker
135,780
Wika Hutchinson
Eugene, OR
Broker, CRIS, SFR, CDPE
I remodeled my bathroom and kitchen within a month after I bought the house. Love the result!
Jan 23, 2013 07:15 AM #2
Rainmaker
598,260
David Popoff
DMK Real Estate & Property Mgmt - Darien, CT
Realtor & Property Manager, Fairfield County, Ct.

It is not just about resale, you get to enjoy it as well ~ quality of life.

Jan 23, 2013 07:35 AM #3
Rainmaker
608,862
Michelle Cooks
Charles Stallions Real Estate Services - Pace, FL
Pensacola, Pace & Gulf Breeze Property Management

As an investor I just love to take an older home and put a fresh look  on it

Jan 23, 2013 08:30 PM #4
Rainmaker
1,056,507
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi David.  Cost does not always equal value.

Jan 24, 2013 02:55 AM #5
Rainmaker
598,260
David Popoff
DMK Real Estate & Property Mgmt - Darien, CT
Realtor & Property Manager, Fairfield County, Ct.
Value is in the eye of the beholder...... The key is to enjoy your home improvement and the benefits .
Jan 24, 2013 03:15 AM #6
Rainmaker
1,085,421
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

I UPgrade my clients' rental properties between tenants - ceiling fans, etc.  Doing an IMPROVEMENT usually takes longer time with no rental income...improvements need to be done PRIOR to turning the property into an investment property

Jan 24, 2013 03:27 AM #7
Rainmaker
1,088,800
Ginny Gorman
Phillips Post Road Realty ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in North Kingstown RI and beyond

David, it sometimes is best to say that renovation is in the eye of the beholder but always stress the return...great share!

Jan 24, 2013 05:17 AM #8
Rainmaker
598,260
David Popoff
DMK Real Estate & Property Mgmt - Darien, CT
Realtor & Property Manager, Fairfield County, Ct.

Ginny, I think home owners might have to start looking at improvements, renovations through a different angle. When you buy a car and use it the value of that car usually goes down over the years, even though you put new tires and brakes on, tune it up, etc. Renovations and improvements are along the same line, you get to enjoy the use of it but do not expect 100 or 120% return on it. I do not have a crystal ball but for now with the economy barely moving home prices will only increase a few percentage points a year if you are lucky.

Jan 24, 2013 06:05 AM #9
Rainmaker
941,373
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

This is always a tricky question, as to spending renovations dollars before putting a property on the market. I professional stagger is a great investment to answer many of these questions.

Jan 24, 2013 04:48 PM #10
Anonymous
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Rainmaker
598,260

David Popoff

Realtor & Property Manager, Fairfield County, Ct.
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