Charlotte, Community, Community, Fort Mill, Lake Wylie, Rock Hill
Renovation Returns
December 19, 2009 by Becky Smith · Leave a Comment
Renovating doesn’t pay off like it used to
By Les Christie, staff writerDecember 19, 2009: 8:57 AM ET
NEW YORK
By Les Christie, staff writerDecember 19, 2009: 8:57 AM ET
(CNNMoney.com) — Home remodelers are getting less bang for their bucks. For the fourth straight year, renovation jobs have added less to resale values relative to their costs, according to an annual Remodeling Cost vs. Value Report released this week by the National Association of Realtors.
The average remodeling job cost $50,908 in 2009 and added $32,497 to the value of the home, a ratio of 63.8%. That was down from a cost-to-value ratio of 67.3% in 2008, when the average was $49,866 and the added value was $33,568.
For the full story: http://money.cnn.com/2009/12/18/real_estate/return_on_renovations/index.htm
Thinking of buying or selling? We can help. Call Becky Smith of RE/MAX Metro and Carolina RealtyTeam at 803-804-3375 or e-mail Becky@CarolinaRealtyTeam.com.
