Does It Make Sense to Remodel?

I am often asked the question is it better financially to fix my old house up or buy a new or used home that fits my needs. The following are figures from Remodeling Magazine’s 2007 Cost versus value report. Hopefully they will help you choose the best financial option for you. This survey was done in the West North Central Area of the United States which includes the St. Louis area.

Project                                 % of Cost added to Home Value

Basement Remodel                           65.1%

Bathroom Addition                           56.4%

Family Room Addition                      57.3%

Garage Addition                                57.9%

Kitchen Remodel                                69.5%

Sunroom Addition                              54.3%

Hope this information helps you make your decision.

Dale Black dale@blackandassociatesllc.com