Recouping Remodeling Costs

by Coldwell Banker Evergreen Olympic Realty, Inc. on May 3, 2010

Spring is a time of renewal. It is also the time many people think about remodeling.

Remodeling a home can be a great way to get the space you need. However, often times a remodel project does not pay when it comes time to sell your home. As Chart 1 shows, it is rare that the cost of a remodel is recouped at sale time. Yet, if market conditions are right for your type of house it may well pay to remodel.

For many people, a remodel is more than a pure financial investment – it is also an investment in the way you live. If you are thinking of a remodel, I’d be happy to discuss your plans with you. This way you will know if remodeling makes good sense for you in today’s real estate market.

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Statistics compiled by Coldwell Banker Evergreen Olympic Realty, Inc. from the NWMLS database. Statistics not compiled or published by NWMLS.

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