For the second consecutive year, Fixr.com has produced a powerful visual interpretation of the major findings of the Cost vs. Value report.
The color-coded chart shows the national average cost for 22 remodeling projects, plus the value that real-estate professionals in 136 U.S. markets say those projects would add to a home's price. The true brilliance of the Cost vs. Value report centers on the percentage of costs recouped by building owners, and the Fixr post includes this in its summary of many of the main points from the 2019 Cost vs. Value Report. But this graph nicely adds a visual reference to the overall cost of each project, ranking the projects from most expensive to least expensive. This provides an important context for many owners that might otherwise not be immediately evident.
While each year shows growth in some areas and a reduction in others, the biggest standout change is in upscale projects. More high-end-level projects made gains in their ROI this year over the last several years. This indicates that homeowners are putting a bigger emphasis on luxury and quality remodels for their homes. Garage doors and stone veneer still get you the most bang for your buck, but it is worth considering the materials and types of projects that are currently trending upward as well. If this trend continues, it could indicate a change for what home buyers will be looking for within the next few years.
The full Cost vs. Value report is available online and local reports can be downloaded for the metro areas analyzed in the report.Read More