NC homeowners should calculate the possible improvement in property value compared to the cost of specific renovations before performing any work. Some projects are more profitable than others. The following are details on NC property renovations worth the investment.
NC Property Renovations Worth The Investment
Most homeowners believe that they will get back the cost of a repair, or even more, when it comes time to selling. This is a common assumption, however it is not supported by real estate market statistics. Different home improvements add different values, and that value may vary based on regions. The data below is specific to the Charlotte North Carolina Real Estate Market.
These figures were obtained from the Remodeling Magazine Cost vs. Value Report.
|
Project Type |
Expense |
Resale Value |
Cost Recouped |
|
Bathroom Addition |
$43,223 |
$32,540 |
75.3% |
|
Bath Remodel |
$18,738 |
$14,300 |
76.3% |
|
Minor Kitchen Remodel |
$21,218 |
$18,889 |
89.0% |
|
Major Kitchen Remodel |
$125,584 |
$82,982 |
66.1% |
|
Master Suite Addition |
$119,455 |
$86,690 |
72.6% |
|
Deck Addition (Wood) |
$11,981 |
$10,744 |
89.7% |
|
Window Replacement |
$16,174 |
$12,838 |
79.4% |
|
Roofing Replacement (Shingles) |
$20,432 |
$13,689 |
67.0% |
Evaluating Property Renovations Worth The Investment
Another factor contributing to the value of renovations is the quality and scale. Kitchen updates, for example. can be completed in varying price ranges leading to a different ending value. So, not only might you think about the type of improvement but also the brands and quality of materials. For a comprehensive list of property repairs and up to date NC property renovations worth the investment, visit http://www.costvsvalue.com.
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