Woburn MA homeowners should figure out the potential increase in the value of their real estate versus the cost of individual changes before performing any work. Some renovations are more beneficial than others in elevating a property’s value. Below is advice on Woburn MA home improvements that increase the value of your home.
Woburn MA Home Improvements That Increase The Value Of Your Home
Home owners often anticipate to redeem the full amount of money spent on renovations when they go to sell their home. This is a understandable tendency, but unfortunately, it is not supported by facts. Different home renovations add different value to a home, and that value can vary in different areas. To give you a general understanding on home improvements that increase the value of your home, below are some national estimates.
National Averages from a Recent Study
The figures below are from Remodeling Magazine’s annual Cost vs. Value Report.
| Improvement | Cost | Resale Value | Cost Achieved |
|---|---|---|---|
| Attic Bedroom | 50,148 | 36,346 | 72.5% |
| Garage Door Replacement | 1,512 | 1,087 | 71.9% |
| Bathroom Remodel | 16,552 | 10,293 | 62.2% |
| Family Room Addition | 83,118 | 50,004 | 60.2% |
| Entry Door Replacement | 3,536 | 1,990 | 56.3% |
Determining Home Improvements That Increase The Value Of Your Home
Another factor influencing the value of improvements is whether it is a mid-range or up-scale repair. Kitchen renovations, for example, can be performed on the low end or the high end and each will achieve a different return on investment. So, not only should you consider the type of repair but also the quality of materials. For a extensive list of property updates, a comparison of mid-range versus high-end projects, and detailed current Woburn MA home improvements that increase the value of your home, visit www.costversusvalue.com.
