How Do Home Renovations Impact House Value?

Better Home and Gardens just released the results of a national survey asking two distinct sets of homeowners what they want to change in their home for 2018. Home or residential renovation is an almost $300 billion industry in the United States, 4 and a $48 billion industry in Canada. 5 full citation needed The average cost per project is $3,000 in the United States and $11,000-15,000 in Canada. Whether you intend to sell your home in the near future or stay put for the long haul, house improvements can increase the value of your property. But if you shudder at the thought of wasting your time on labor-intensive projects that may or may not add equity, you’re not alone.

Homeowners also underestimated the cost of new floors and new windows, with average household reno budgets coming in at just over $3,250 and just over $8,520, respectively. The anticipated floor … Read more