Money Made From Remodeling
“Hi Gary. I recently read that when you sell your home, you only recoup 79.4% of the cost of a kitchen remodel. But my kitchen was really busted up and I’ve got to think I’ll get more than that back. What do you think?”
***ANSWER:
You’ve hit the nail on the head with one of the big beefs I have with those “Cost vs. Value” reports on home improvements. The huge variable the never even mention is:
…How bad does your home need the improvement?
If you’ve got a pretty nice kitchen, you may only get 25% of the cost of a remodel. But if your kitchen is a disaster, you may well get 100% of the cost.
Another variable, of course, is the cost. I’ve seen some $30,000 kitchen remodels that look as good as one that costs $60,000.
So I wouldn’t go by the statistics in those reports…
Strategies To Sell Your San Diego Home