What's the Return for Remodeling in Indy?
Thinking about remodeling but worried that you won't get your money out of the project when you sell? How do you decide what to remodel and how much to spend? Well, the return for remodeling depends first on what part of the country you live in. In the December 2006 issue of REALTOR magazine, they outlined four different, common remodeling projects. They described the cost involved, the resale value and the cost recouped for the projects in different areas of the country. For more information, check out the full article at http://www.realtor.org/rmomag.NSF/pages/2006CostvsValue?OpenDocument In Indianapolis, the averages are as follows: Kitchen Job cost--$17,945 Resale value--$13,019 Cost recouped--72.5% Bathroom Job cost--$12,894 Resale value--$8,393 Cost recouped--65.1% Home office Job cost--$20,181 Resale value--$9,643 Cost recouped--47.8% Basement Job cost--$58,923 Resale value--$39,200 Cost recouped--66.5%