2007 Cost vs Value Report
Many times people renovate their homes thinking they will get huge returns. If you are remodeling your home and the future value is important to you, consult your Realtor. If you are living in your house long term and you are remodeling for yourself, then do what you like. Many times I see huge overimprovemnts with home owners wanting to recoup the cost immediately.
First, look at what is normal and typical for a house in a similiar location and price range. Don't put in a $70,000 kitchen in a home that will only sell for $280,000 and expect to recoup the cost. You may laugh and say, I would never do that, but we see it all the time. Also do not alter the basic function of the home. Making a three bedroom home into a two bedroom home or getting rid of garages for extra living space in most cases are not wise choices to make. Another mistake is adding a bedroom to without the proper size septic system. We can't sell the extra bedroom!!
Following is a link to the Remodeling Magazine Cost vs Value report. I hope you find it useful.
Looking to buy or sell in Tewksbury MA? Don't forget to call me!!