Two takeaways for any homeowner intent on remodeling:
- All remodeling projects depreciate in value, and;
- Almost no projects return 100% on the investment
Remodeling projects decline in value over time for a number of reasons; trends change, technology improves, items break, and items wear down. Projects do not return their costs, and in most cases return far lower than their actual cost. Some of the projects we hold dear are the ones with the lowest percentage of cost recouped – namely family room additions, bathroom additions, and primary suite additions.
The chart below reflects the costs vs value on common remodeling projects:
For more information, contact Penny at (206) 618-5123 or email me at Penny@TheOriginalPenny.com.
Serving: Bainbridge Island, Poulsbo, Silverdale, Kingston, Bremerton, Port Orchard, Port Ludlow and Ocean Shores.