Franklin TN homeowners should assess the potential improvement in the value of their property versus the cost of specific changes before completing any repairs. Some repairs are more profitable than others. The following are recommendations on Franklin TN property repairs resulting in the most value.
Franklin TN Property Repairs Resulting In The Most Value
Home owners often aim to regain the full expense of repairs when they go to sell their house. This is a normal expectation, but unfortunately it is not what actually occurs. Different home renovations add different values, and that value can vary based on geographic areas. To get a general idea on property repairs resulting in the most value, below are a few nationwide statistics.
Averages for Mid-Range Repairs
These figures are from the Remodeling Magazine Report.
|Repair||Expense||Increased Value||Cost Regained|
|Roof Replacement||$21,204||$12,257||57.8 %|
|Garage Addition||$57,824||$33,089||57.2 %|
|Bathroom Upgrades||$16,552||$10,293||62.2 %|
|Minor Kitchen Upgrade||$19,588||$14,120||72.1 %|
|Vinyl Window Replacement||$11,319||$7,692||68 %|
Assessing Property Repairs Resulting In The Most Value
Another factor determining the value of projects is whether it is a mid-range or up-scale repair. Kitchen improvements, for example, can be performed in varying price ranges leading to a different return on investment. So, not only should you think about the area of improvement but additionally the amount of money to spend.
For more information on home updates and current Franklin TN property repairs resulting in the most value, contact Jim Eaton at Blueprint Realty, Inc. at Cell/Txt: (615) 519-5515 / Office: (615) 538-8328 or [email protected]