Posted by on Apr 20, 2015 in Remodeling | 0 comments

cost value imageRemodeling Magazine released its annual Cost vs. Value Report last month. This report compares the average cost for 36 of the most popular remodeling projects with the value those projects retain in 102 U.S. markets. Portland is one of the markets reviewed, as seen here: 2015 report.

One of the first things you’ll notice in this report is the cost/ratio for most projects is under 100%. This means that you’ll spend more to build the project than you’ll get back if you decide to sell your home shortly after completing the project.

If you can’t get back 100% of the costs, this leads many to ask, “Why remodel?”

Here are some reasons people choose to remodel their homes, even if the cost/ration is less that 100%:

  1. Remodeling an existing home may actually be less expensive than buying a new home, especially if that remodel gives you all the features you want. When comparing costs, don’t forget to factor in the costs associated with moving a household, even if it is only across town.
  2. Remodeling allows you to stay within the community you adore. You’ll still have your neighbors, school district and conveniences like shopping, dining and commute to work as you’ve always known them.
  3. Remodeling allows you to enjoy the benefits of those improvements and your new, better space, particularly if you plan to stay in your home for many years.

You can learn more from this video: “Why Remodel?

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