Does a Remodel or Renovation Add Value to My Property?
I know it's conventional wisdom to think that remodels and renovations add value to properties. I wish it was that easy... but actually this is not always the case.
Did you know, a minor kitchen remodel costs just over $20,000 (average) and only adds around $16,000 to the total value of the home? For a full breakdown of renovation costs/returns, I recommend checking out Remodeling Magazine's 2017 Report Key Trends in the 2019 Cost vs. Value Report.
If you plan on staying in your home for a long time, making your space more liveable is a great choice, especially if you can see a nice return on the money you put into it. I just wanted to take a second and share this report with you, and if you have any questions regarding your local real estate market, don't hesitate to ask... we are always here to help, in every way that we can!
~Real Advantage Partners team