Friday, January 05, 2007

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%

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