According to Remodeling magazine, The 2020 Cost vs. Value report (www.costvsvalue.com) illustrates an unsurprising inclined trend in costs for all the 22 remodeling projects although there is a consistent dip in the perceived value of those home improvement projects at the time of home sale, as projected by real estate professionals in more than 100 metro areas across the United States.
This results in a slight slump on the return on investment for nearly all projects relative to the trends in the previous year’s report.
Though consumers are growing more and more anxious about the U.S. economy, at the very least they can stay certain about the return on investment (ROI) for remodeling.
Cost vs Value on Yearly Trends
Cost and value figures reflect averages for 15 projects that have appeared in Cost vs. Value over the last dozen years. As project costs have consistently risen, the value-over-cost ratio, as a percentage, reveals a shaky decline over the last six years in the cost recouped for these remodeling projects.
Cost vs Value on National Averages
[table id=204 /]
The table above is sorted by the highest return on investment which ranks all 22 projects in the Cost vs. Value report.
“Trend” shows the change in percentage of cost recouped at the time of home sale compared with the 2019 report.
Cost vs Value by Regional United States
Percentage of costs recouped on re-modeling projects for each region of the country.
[table id=206 /]
The power of Cost vs. Value is its regional specificity (which is even more detailed at the metro level).
The above table offers an overview of the regional distinction, which is occasionally dramatic, in the percentage of costs recouped for 22 remodeling projects.
