Fix it or Not?

To Renovate or Not and What will be my value?

There is no price tag on the comfort, convenience or 'feel good' value of a remodeled room. But it's also nice to know in 'dollars & sense' what resale value you may have added to your property. Much of the value will depend on where the house is located, what shape it is in, and the quality of the work. In some markets, value can increase by as much as the cost of the remodel, and sometimes by even more.

If you would like us to help you decide if it is worth it or not for you to consider remodeling your shore home, just give us a call. We are very familiar with what buyers are looking for and are willing to pay for.

Below is a table to give you some rough ideas of the estimated cost of popular home renovation projects and the expected value they'll add at sales time. These number are for the New York area, which we are closely aligned with for current owners and future buyers. (2004) It was interesting to not that New York prices were higher on cost (no surprise) but cost recouped was also higher.

Type of Renovation	Average Cost	Resale Value	Cost Recouped
Major Kitchen	$47,815	$43,594	91.2%
Bathroom	$12,014	$13,178	109.7
Family room add.	$65,309	$57,982	88.8
Deck add.	$8,188	$9,077	110.9
Master Suite	$87,714	$77,808	88.7
Window Replacement	$10,175	$11,615	108.4
Siding replace.	$8,581	$9,577	111.6

Figures are supplied from Remodeling Magazine. Cost estimates from HomeTech. Our area may differ slightly.