Cost vs. Value

For those who already own a home and for those who are looking to buy, the thought of a home improvement project can seem tempting. The tone of that sentence is not to say it's not a good idea, but rather that a home improvement project is not the type of project you just want to jump into without doing research.

Remodeling Magazine does a wonderful Cost vs. Value report every year which goes over the top 25 home improvement projects which recoup a homeowner the highest percentage of returns. The #1 home improvement project (for the nation) is a Minor Kitchen Remodel (costing about $15,000, recouping about $14,000). This is assuming new laminate countertops, new wall oven and cook-top, mid-priced sink and faucet, repainting walls, refinishing existing cabinets, and installing new resilient flooring.

In the Triangle area, it has been estimated this job would cost about $14,000, recouping $13,000. Not too bad-thats 93%.

So when you start to think home improvement, give me a call and I will share with you a booklet detailing the different projects so you can make the best financial decision possible.