You may be wondering how much of your expenses you will recoup when you sell your home. For the last 20 years, in an effort to help homeowners answer that question, Remodeling magazine has produced an annual Cost vs. Value Report.
The 2007 report has just been released, and key highlights include:
Focus on exterior upgrades as the best value projects;
Highest value home enhancements were: upscale siding replacement using fiber cement materials, wood deck addition, and a midrange vinyl siding replacement;
The best interior home project nationwide is a minor kitchen remodeling;
For Houston Texas and the West South Central Region average costs recouped are 6% higher than the national average and best value projects differed slightly.
The National Association of Realtors and Specpan collected information from nearly 3,000 responses to a web-based survey. This years report found that due to the housing market slump, the percentage of construction costs recovered is lower across all projects compared with 2006. The most likely culprits for the year-over-year drop are slower home appreciation rates due to the lackluster real estate market...
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