Louisville Kentucky Home Insider

Updating Costs vs. Value Louisville & Prospect Homes

So you're about to update your Louisville or Prospect home and you are probably wondering...Is it worth it? Below will give you a better idea on home much the project will cost but more importantly the equity and value you'll receive from the project.

Obviously cost will depend on location, contractor, extent of remodel, etc. but the key statistic is the "Cost Recouped". These number below are from a recent study for the LOUISVILLE, KY market therefore they are very accurate and relevant.


Project Type Average Job Cost Cost Recouped
Bathroom Remodel $15,533 71.4%
Bathroom Addition $37,667 59.8%
Major Kitchen Remodel $55,972 73.5%
Minor Kitchen Remodel $20,949 76.3%
Master Suite Addition $100,401 71.3%
Family Room Addition $79,138 67.3%
Deck Addition $10,390 75.4%
Roof Replacement $19,763 62.0%
Garage Addition $56,357 64.2%
Window Replacement $10,373 72.1%


As you can see, Bathrooms and Kitchens are what sell homes. It is important to not go "overboard" or you'll start to lose value but if you're looking to do some updates, invest your money in what the buyers like...Kitchens & Bathrooms. This will greatly enhance the re-sell value of your home.

If you're curious about what your home is worth or what an update might do to the value, ask me for my professional opinion. I would be more than happy to give you an estimate on what certain updates will do for your home and its re-sell value!

 

Sean S. Williams
Licensed Broker, Realtor
®, ABR®, e-Pro®
1st Time Buyer & Relocation Specialist
502.727.9784 cell
Semonin Realtors
of Louisville, Kentucky
"Eat. Sleep. Real Estate."

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*Serving the Louisville, Kentucky & Surrounding Areas.
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Accredited Buyer Representative
® , e-Pro®, First-Time Home Buyer Specialist & Louisville Relocation Specialist. 
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Comment balloon 1 commentSean Williams • October 07 2011 02:15PM
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