Remodeling Can Pay Off Newport News VA

Smart home improvements can make your home more valuable.

Local Companies

A Better View Glass & Mirror
757-223-9382
400 Commerce Circle
Yorktown, VA
Affordable Thomas Home Improvement
757-672-2695
1534 W Oceanview Ave
Chesapeake, VA
Johnny Barber's Home Repair Service Inc
757-480-9690
7923 Chesapeake Blvd
Chesapeake, VA
Davis Mason Builders Inc
(757) 872-9155
12547 Warwick Blvd
Newport News, VA
Rw Bonner & Associates Inc
(757) 595-1223
Newport News, VA
Bay Home Improvement
(757) 926-4512
12535 Warwick Blvd Ste B
Newport News, VA
Barbrey's Jerry Custom Trim and Remodeling
(757) 867-6621
Newport News, VA
Mr Handyman of the Va
(757) 283-5044
558 Denbigh Blvd
Newport News, VA
Remodeling Company the
(757) 867-6800
Newport News, VA
Walker & Sons Home Improvment
(757) 246-8424
14537 Old Courthouse Way
Newport News, VA

Remodeling Can Pay Off

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A major home remodeling project can be a great investment. In fact, some types of projects in certain regions of the country can recapture more than 100 percent of the cost by making your home more valuable.

A recent report in Remodeling magazine revealed the national and regional average costs and percentage returns of popular home remodeling projects. The averages, which are given for upscale and mid-priced projects, are good relative indicators of which home improvements may be good choices for homeowners who want to recoup their costs. These figures shouldn’t be taken as a guarantee of a specific return on an individual project, however.

Top payoffs vary among U.S. regions
Four mid-priced remodeling projects returned more than 100 percent of the cost, on average, in the Pacific region. Those projects were a minor kitchen remodel, bathroom remodel, wood window replacement and addition of a second story. Remodeling was a very good investment in the Pacific region, where every upscale and mid-priced project on the list recouped a higher return on average than the national average for the same project.

The top mid-priced remodeling project in the New England region was the replacement of vinyl siding, which returned more than 94 percent of the cost through a higher home valuation. The same project topped the list in the Mid-Atlantic region as well with an average return of 92 percent of the cost.

Three mid-priced projects recaptured slightly more than 90 percent of the cost in the South Atlantic region. Those projects were an attic bedroom remodel, basement remodel and the addition of a second story.

 

Vinyl siding replacement also topped the list of returns on mid-priced remodeling projects in the East North Central region and the East South Central region, with a return of 81% for the former and 105% for the later.

Home offices offer least return on average
A remodeled home office might be a great boost for a home-based business, but this project offered the least attractive average return of any remodeling project on a national basis. The average cost of a mid-priced home office remodel was $20,057 and the average return on that cost was $12,707, or only 63 percent. The home office was the lowest-ranked project on this scale nationally in 2005.

Lifestyle should trump investment potential
Regardless of the return on investment, a home remodeling project should be a personal choice that is unique to you and your home. While the likely increase in the value of your home as a result of improvements is worth consideration, remodeling should suit your needs as well as your lifestyle.

 

Published on May 30, 2007

Read full article at realestate.com

Featured Local Company

A Better View Glass & Mirror

757-223-9382
400 Commerce Circle
Yorktown, VA
www.GlassVA.com

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