Texas REALTORS® 2018 Winter Meeting | Feb. 9-13 | Austin, Texas

Remodeling projects that don’t pay off

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04/15/2016 | Author: Marty Kramer

It’s surprising how many remodeling projects don't pay for themselves when you eventually sell your home. In other words, the value added to your sale price is less than the price tag of the remodel.

In fact, the majority of home updates and additions fall into that category, according to the 2016 Cost Vs. Value Report from the National Association of REALTORS® and Remodeling magazine.

Even so, there are many good reasons to remodel your home. You may get more than your money’s worth of enjoyment from functional and aesthetic improvements to your home. Also, outdated kitchens, bath, and decor can make it difficult to attract buyers. Perhaps most important to remember, though, is that reports like this deal with estimates, averages, and assumptions. The value of a remodeling project may have different results in different cities or neighborhoods and may vary from one type or price of home compared to another.

You can get a general idea of the most and least valuable remodeling projects in Texas from the infographic below, but to really dig into the details of how a remodeling decision might affect your property's value and attractiveness to buyers, talk to a Texas REALTOR®.

Categories: Sellers, Homeowners
Tags: sellers, consumers, texas remodel valuation report, home remodeling, remodeling

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The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.

While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on texasrealestate.com. Any legal or other information found here, on texasrealestate.com, or at other sites to which we link, should be verified before it is relied upon.

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