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Beatrice Bloom's Blog

By Beatrice Bloom | Agent in 08540

2011-2012 COST VS. VALUE REPORT



Princeton Town Topics – Let’s Talk Real Estate – March 14, 2012

2011-2012 COST VS. VALUE REPORT

Every year, Remodeling Magazine conducts a nationwide survey to compare the present-day cost of several popular home remodeling projects against their resale value. These surveys provide a valuable tool for industry analysts to measure the general state of the U.S. real estate market.

The 2011-2012 Cost vs. Value Report shows that the resale value for most projects has dropped somewhat (for example, a bathroom remodel recoups 62.2%, as opposed to 64.1% last year). This is primarily due to the overall decrease in home values, and while labor costs are down, the cost of building materials has also risen significantly.

If you are planning an upgrade, you might want to go to www.costvsvalue.com to check out the data for your project. Remember though, local costs for labor and materials can vary dramatically from national statistics. To choose the most cost-effective projects, be sure to consult with your REALTOR® who will know what upgrades are cost-effective and are the most popular with your target buyers.

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