Are You Getting Bang for the Buck on Your Home Addition?
January 20th, 2010 Categories: Real Estate News
Are you getting bang for the buck on your home addition? In other words, is the money you put into an addition to your house going to pay off in the end?
Obviously some additions are done out of pure physical need for space, like an extra bathroom or bedroom. Others, like a garage or full blown master suite may be more about comfort or convenience.
Either way, homeowners want some sense of the kind of return they can expect when it comes time to move on.
This month’s issue of Remodeling Magazine features their annual “Cost vs. Value” report and today we are going to take a look at what kind of return you can expect on specific home additions. In the next few days we will also look at the return on remodeling and finally on replacements.
The cost data are generated by gathering current cost information from a nation wide network of remodeling contractors and suppliers. The model then uses an adjustment factor for regional price differences.
Alexandria and Northern Virginia are part of what is known as the “South Atlantic” which also includes Washington, D.C., Delaware, Florida, Georgia, Maryland, North Carolina, South Carolina, and West Virginia.
Remember, what you see below if for an addition, not a remodel.
Are you getting bang for the buck on your home addition?
Michael
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