After some recent studies, we’ve received word that, with cost vs. value, remodeling is more of a significant pay-off than it was originally thought to be. Take a look at these basic statistics:
“This is the second year in a row that all 35 projects in Remodeling magazine’s Cost vs. Value Report saw more home improvement dollars recouped upon resale of a home than the previous year.
Existing-home sales reached 5.02 million in 2013, a 9.1 percent increase from 2012, according to the National Association of REALTORS®. Home prices also rose in 2013: Existing homes commanded a median price of $197,100, up 11.5 percent from the 2012 median price of $176,800. This is the largest price gain since 2005.”
Need more than just those? Well, be sure to consult Erica Christoffer’s Realtor Mag article, with loads and loads of numbers, crunched for your reading pleasure. Here’s the details: