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Cost vs. Value in Home Improvements in 2016!

February 2, 2016

Home Improvements

Screen Shot 2016-02-02 at 9.28.16 PM

Every property owner who has ever thought about going on the market has asked the question, “How much is my property worth?”  The answer to that question can be frustrating, even confusing, because of the following factors:
Factors That Determine Market Value
Recent Selling Prices Of Similar Homes
Current Competition
Location Of Subject Property
Physical Qualities/Condition Of Property
Market Conditions (i.e. Interest Rates)

Factors That Do Not Determine Market Value
Original Purchase Price + Total Value Of Home Improvements
How Much Is Owed (i.e. Recorded Liens, Judgments)
Owner’s Needed [Desired] Proceeds
Opinions Of Others
Property Appraisal

To help address the “Total Value of Home Improvements” factor, check out the annual Cost vs. Value 2016 report published by Remodeling Magazine, a good indicator of what to expect as your ROI (return on investment).

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