Does it pay to remodel your home?

Written By: admin - Nov• 29•10

Cost vs. ValueEach year, following the release of Remodeling Magazine’s annual Cost vs. Value Report, we see a slew of headlines telling us “It Doesn’t Pay to Remodel Your Home.”

But despite the naysayers, a home-renovation project can still be profitable — even in this current market. As any savvy DIYer will notice, the costs of the projects are inflated to cover the expense of hiring professionals. Those who take on DIY home improvement projects can plug in their own costs, note the value stated in the report and calculate a custom cost vs. value return percentage.

For instance, if a DIYer completes a major kitchen remodel for $30,000 and the return is an expected $40,126, that’s a big 133% return (approx.) on expenditures.

Seen in those terms, yes, it pays to remodel your home.

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