Home Improvement Projects: Is there a return on your investment?

Posted on Nov 30 in Cincinnati Real Estate, Contractors and Renovations, Home Maintenance
Tagged: , ,

Many people are wondering where their money will be safest during these uncertain economic times.  Investing in your home still pays off.

NATIONAL ASSOCIATION OF REALTORS® statistics show that home prices have fallen by an average of 7 percent nationally in the past year. But the value of home owners’ investment in remodeling projects has declined only 3.86 percent on average between 2007 and 2008, according to Remodeling’s 2008–2009 Cost vs. Value Report.

Remodeling produces the Cost vs. Value Report each year in cooperation with REALTOR® magazine. REALTORS® responding to a survey in midsummer said home owners could expect to recoup a national average of 67.3 percent of their investment in 30 different home improvement projects. At the height of the housing boom in 2005, home owners could expect to recoup a national average of 86.7 percent on projects.

For more specific information on how much you can recoup on select home improvement projects.  Please click here.

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Comments

  1. Robin (1 comments.)

    Dec 1st, 2008

    Depending on what kind of remodeling project a person is considering will definitely make a difference. Kitchens, bathrooms and decks seem to be the most popular in our area and makes the biggest impact on potential buyers. These projects definitely require more than a coat of paint to spruce them up unlike other rooms but they are the ones that are noticed the most when people come to take a look at a home. I have spent much time on a number of my clients homes these past few years doing these projects and it has made a big difference.

    You may not get a 100% return on your investment but it will probably make your home a lot easier to sell because it looks better and more modern than many of the others out there in a similar price range.

    Hope this helps,
    Cheers,
    Robin

  2. Shawn (1 comments.)

    Dec 4th, 2008

    This is exactly what people are doing right now in the investing community. People are buying houses at a significant discount, then updating them, the either renting them out or passing them on(for a profit) to another investor/landlord.

    http://www.inexpensiveinvestinginflorida.com

    Thanks

  3. national association of realtors (2 comments.)

    Dec 8th, 2008

    WASHINGTON (AP) _ The National Association of Realtors says home prices fell in four out of five U.S. cities in the third quarter, the latest sign of how the U.S. housing market’s decline is spreading throughout the