We’ve talked about Remodeling Magazine’s awesome Cost versus Value report that they issue every year, but this year deserves some attention because for the first time in half a dozen years years, “the overall average cost-value ratio has improved, reaching 60.6%. This is 2.9 points better than the 2011–12 number, which hit a low of 57.7% (the lowest point since at least 2001), and is more than a half-point better than the 60.0% ratio from two years ago.”
One of the great things the report does is break down the data by region. The closest we can get here in Aberdeen is Fargo, ND or Sioux Falls.
It’s not surprising but you still have to chuckle that those projects where the most money is recouped revolve around insulating homeowners against bad weather or allowing them to enjoy the GOOD weather. These include upgrading your front door, replacing your windows and adding a wood deck.
Aberdeen remodelers take note! Adding a master suite, a family room, even a garage, have a low cost versus value rating. Spend your precious remodeling dollars wisely.
Adding a sunroom, a bathroom or remodeling an office rank among the lowest.
Here’s the link directly to the Fargo, ND data.
I’ve been in construction full or part time for most of my adult life. I’m always available as a sounding board if you’re considering a remodeling project, especially if you have selling your home in view.