Vinyl Increases Value

Will Your Remodeling Pay Off?
There are financial factors to consider before you choose a home improvement project and smart homeowners will consider resale value before making a major remodeling investment. Each year REMODELING magazine publishes a study that can help homeowners determine the return on investment for their home improvement projects.

This Cost vs. Value Report contrasts the cost of home improvements with their recouped value when the house is sold. They compare construction costs for 12 projects, as calculated by R. S. Means of Kingston, Mass., with estimates of the projects' value in a one-year resale scenario. Real estate agents and appraisers in 60 residential markets across the country provided return-on-investment estimates….

The resale value of each project is an estimate based on a one-year resale scenario. This can be misleading because many newly remodeled homes are not put on the market so soon. Therefore, predicting future values can be hard to do. It is generally agreed, however, that the payoff for a good remodeling job should increase in the long term.