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%