This is a question we are asked frequently. We have addressed the question in a post before and decided to bring it back with a new post, since it is continuously a popular subject. Remodeling magazine has updated their data for 2016 with the Remodeling 2016 Cost vs. Value Report. They explain what their numbers mean and the method they used to obtain them. It is a great tool to play around with.
Many factors can greatly effect the cost of a renovation or building project. We continue to use the Houzz.com calculator to get an idea of what people are spending in different locations for different projects. Check it out.
We also believe that particulars about each home, location and individual market information can have different effects. These are just guidelines. Even if you have no plan to sell your home it is important to consider this information. You never know when an opportunity may present itself, if your plans change you will be glad you made sound renovation choices. Contact us to explore the possibility of enlisting our help when making decisions about your project that you think may impact the value. John & Cindy Farrell 978-468-9576.
© 2016 Hanley Wood, LLC. Complete data from the Remodeling 2016 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.
Updated August 2016