What Are Popular Home Renovations Worth in 2018?
January 11, 2018
Popular Home Renovations Worth in 2018
Home renovations have historically been a great way to increase home value, but things may be changing. According to Remodeling Magazine’s “Cost vs. Value Report”, in 2018 return on investment for an average renovation is only 56%. Over the previous two years similar renovations would have returned 64% of their investment cost. The idea that market prices are nearing their peak is one theory why home renovation ROI has decreased. In addition, new tax laws have lowered the amount of deductible mortgage interest alongside changes in local property taxes.
This is a list of some interesting renovations and their return on investment percentages.
In conclusion, for 2018 try to fix and repair first, then renovate and add to impact the value of your home.