Las Vegas homeowners should figure out the possible increase in the value of their real estate versus the expense of individual changes prior to completing any improvements. Some improvements may be more profitable than others. Below is guidance on Las Vegas home renovations worth the investment.
Las Vegas Home Renovations Worth The Investment
Property owners often hope to regain the entire amount of money spent onrepairs when it comes time to sell. This is an expected tendency, but it is not supported by reality. Different home repairs add different values, and that increase can vary depending on geographic areas. To obtain a general idea on home renovations worth the investment, below are some nationwide estimates.
National Averages for Mid-range Renovations
The figures below are from the Remodeling Magazine Cost Versus Value Report.
|Project||Amount Spent||Resale Value||Percentage of Cost Returned|
|Basement Remodel||$63,378||$42,338||66.8 %|
|Deck Addition||$10,350||$7,259||70.1 %|
|Bathroom Remodel||$40,096||$20,455||51 %|
|Major Kitchen Remodel||$57,494||$37,785||65.7 %|
|Master Suite Add-on||$106,196||$62,874||59.2 %|
Identifying Home Renovations Worth The Investment
Another factor determining the value of repairs is the quality and scale. Kitchen projects, for instance, can be completed in varying price ranges resulting in a different return on investment. So, not only might you consider the area of change but also the quality.