Home improvement cost and value is important. Which home renovation projects are you and your neighbors doing that will increase your property values? How much will that home improvement cost? How to decide which home improvement project to do next?
If you haven’t looked into it yet, you might want to read this two page article by Bob Villa: The Most Valuable Home Improvements. But be sure to notice how often Bob points out the need to look at what other people are doing in your own neighborhood:
“The best way to determine the level of home improvement required for a successful sale is to visit the homes around you and study comparables. Then follow their lead.”
Bob’s right, and that is a big part of what myHomeUpgrades.com is all about.
If you haven't looked into it yet, you might want to read this two page article by Bob Villa: The Most Valuable Home Improvements. Be sure to notice how often Bob points out the need to look at what other people are doing in your own neighborhood:
"The best way to determine the level of home improvement required for a successful sale is to visit the homes around you and study comparables. Then follow their lead."
Bob's right, and that is a big part of what MyHomeUpgrades.com is all about. But there's also another way to answer the question.
Often, your home is your most valuable asset and your biggest single investment. When investing in the stock market, most people ask the question "what is my return on investment" or "ROI"?
But most people don't check to see what the actual return on investment (or "ROI") is for the home renovation or home improvement project they're considering. For example, almost nobody even runs a quick Google search for "home improvement ROI". But you definitely should. You might be surprised.
Since I originally published this post, I found a helpful report on home improvement cost vs. value. It's a table of home improvements you can sort by ROI and by region of the country. Plus they have different reports for different years, and they've included the change in ROI from one year to the next for each project type. It's all published by Remodeling Magazine. To check out the 2017 national report, you should click here.
BONUS: I've got an email in to one of their editors to ask about the source of the data. So, make sure you Subscribe to our free newsletter so that I can let you know why I find out.
Christopher Simmons is a homeowner in the Raleigh, North Carolina area who enjoys home improvement projects.
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