Portsmouth NH homeowners should evaluate the potential change in the value of their real estate versus the cost of particular changes before performing any updates. Some updates are more profitable than others in increasing a home’s value. Below is guidance on Portsmouth NH home renovations creating the most value.
Portsmouth NH Home Renovations Creating The Most Value
Home owners often anticipate to regain the full amount of money spent on work when they go to sell their home. This is a understandable tendency, but unfortunately, it is not supported by reality. Different property repairs add different value to a home, and that value can vary in different areas. To give you a general understanding on home renovations creating the most value, below are some national averages.
Average Increase in Value for Mid-Range Improvements
The figures below are from Remodeling Magazine’s annual Cost vs. Value Report.
|Renovation||Amount Spent||Value Assigned||Amount of Cost Recouped|
|Home Office Remodel||27,963||11,983||42.9%|
|Family Room Addition||83,118||50,004||60.2%|
|Vinyl Window Replacement||11,319||7,692||68%|
Identifying Home Renovations Creating The Most Value
Another factor affecting the value of repairs 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 lead to a different value. So, not only should you consider the type of repair but also the brands and quality of materials. For a comprehensive list of home projects, a comparison of mid-range versus high-end projects, and detailed current Portsmouth NH home renovations creating the most value, visit www.costversusvalue.com.