People in St. Charles and St. Louis are always asking if remodeling adds value to their home before they want to sell it. Remodeling projects might make it easier to sell a home, but what percentage of the cost can be recouped as a part of the sale?
I came across this article which provides data for the St. Louis and St. Charles area for 35 remodeling projects which includes a comparison of:
- the cost of the job
- the resale value
- percentage of cost recouped
- city to regional and national comparison
Projects were broken out by midrange homes and upscale homes.
Only one project recouped more than 100% of the cost, and this was at the National level for a steel entry door replacement.
The St. Louis area trailed behind the national average in regard to the percentage of costs recouped for remodeling projects.
Most projects recouped between 50% and 65% of their costs, with the steel entry door and new garage door replacements recouping the highest percentages.
See the full results form the 2010-2011 Remodeling Cost vs. Value report for the St. Louis area.
It’s important to work with a top real estate agent with experience in the St. Charles and St. Louis metro areas to determine if that home remodeling project really will pay for itself or recoup most of the cost. A top real estate agent can help home sellers understand which home remodeling projects will help with the sale of the home and allow the seller to recoup costs.
If you are thinking about buying or sell in home in St. Charles or St. Louis counties, please contact Sandra Meranda and I’ll get you moving!