We are frequently asked what home improvements have the best return on investment. Every year Remodelling magazine and the National Association of Realtors combine their resources to provide an annual report comparing the actual cost of a project and the homeowners return on investment. Here are the highlights of the annual 2013-14 Cost vs Value Report. If you’re thinking of remodeling or adding onto your house the following returns on your costs should help you with your decision making.
In a real estate transaction, the “cost recouped” for a remodeling project depends on a variety of factors. These include the home’s layout, the quality of finishes, the condition of the rest of the property, the value of similar homes nearby, supply and demand in the neighbourhood and the property’s specific location.
These 2 charts demonstrate the percentage cost that a homeowner recouped for the improvement of their Remodels & Additions: