The images on this page show examples of council homes before and after improvement work. HomeAdvisor (Formerly ServiceMagic) is a leading website and mobile app provider offering free tools and resources for home improvement, repair and maintenance projects. This means that if you can afford to repay the loan within a shorter timeframe it’ll cost you less in interest, but you also have the option of spreading the cost and reducing the size of the regular repayments if necessary.
The value of all renovation projects this year actually fell, because the cost side of the analysis rose. A severe labor shortage, combined with extraordinary demand for building products, especially after multiple natural disasters, have caused remodeling prices to skyrocket. The simpler the project, and especially one utilizing less labor, the higher the returns.
It’s a formula you see played out on home renovation reality shows over and over again: An owner has a long list of must-haves (which can quickly add up) and a very tight budget. Yet, somehow, the remodeling team is able to deliver the home of their dreams. Before you dial up your contractor demanding prices that aren’t realistic for the scope of work you want done or your location, know that the project budgets you see on TV are just that – made for TV.
According to a recent Cost vs. Value report from , most home improvement projects will add some value to your home.( 1 ) But not all remodeling will increase your home’s value enough to recoup the entire cost of the improvement. And in some cases, your upgrade may not increase the value of your home, but it will add satisfaction to you and your family while you live in your house.
Granted, some of the roughly $200,000 increase in home value had to do with the Austin market’s 20 percent appreciation in the Harmeses’ 3½ years of stewardship. But it’s also a testament to the couple’s savvy instincts about what today’s buyers are looking for, especially now that millennials, 75 million strong, have become the leading cohort of buyers, purchasing 32 percent of homes in 2014.