PA homeowners should analyze the actual increase in the value of their property compared to the expense of particular changes before performing any projects. Some repairs may be more advantageous than others. Below is guidance on PA home repairs resulting in the most value.
PA Home Repairs Resulting in The Most Value
Many people think that they will recoup every dollar spent on an upgrade, or perhaps even more, in increased home values. This is an expected expectation, but it is not what actually occurs. Different property changes provide different returns, and that increase can differ based on regions. To get an overview on home repairs creating the most value, here are some nationwide statistics.
Average Increase in Value for Mid-Range Renovations
The figures below were obtained from the Remodeling Magazine Report.
|Improvement||Expense||Resale Value||Percentage of Cost Recovered|
|Basement Remodel||$63,378||$42,338||66.8 %|
|Garage Addition||$57,824||$33,089||57.2 %|
|Bathroom Upgrades||$16,552||$10,293||62.2 %|
|Minor Kitchen Remodel||$19,588||$14,120||72.1 %|
|Two-Story Addition||$165,796||$103,391||62.4 %|
Identifying Home Repairs Resulting in The Most Value
Another factor determining the value of repairs is the quality and scale. Kitchen improvements, for example, can be performed on the low end or the high end leading to a different ending figure. So, not only might you consider the area of improvement but also the quality. For a detailed list of home renovations and current PA home repairs resulting in the most value, visit http://www.costvsvalue.com.