In the new March/April edition of Realtor Magazine, the cost vs value for remodeling projects was featured and I believe it offers great insight for Richmond home owners thinking about tackling a new project. Below is what you may expect as your return on investment on certain renovations:
|
Project
|
Cost
|
Resale Value
|
% of Cost Recouped
|
|
Siding Replacement (Upscale, fiber-cement)
|
$13,461
|
$10,493
|
78%
|
|
Entry Door Replacement (Mid-Range, steel)
|
$1,238
|
$903
|
73%
|
|
Attic Bedroom Addition (Mid-Range)
|
$50,148
|
$36,346
|
72.5%
|
|
Kitchen: Minor Remodel
|
$19,588
|
$14,120
|
72.1%
|
|
Garage Door Replacement (Mid-Range)
|
$1,512
|
$1,087
|
71.9%
|
|
Garage Door Replacement (Upscale)
|
$2,994
|
$2,129
|
71.1%
|
For more information on other projects and to obtain a PDF for specific real estate markets, please visit: www.costvsvalue.com
Done the work and now ready to put your home in the Henrico County Real Estate or surrounding Richmond Real Estate market? Contact me, Shannon Milligan at Home Sweet Henrico with Keller Williams Realty Richmond West, today!
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