Simone Spotlight - Cost VS Value for Home Renovations

How to Add Value to Your Home

May 30th

🎉 Hey East Bay 🎉

It’s that time of year again when you decide what renovations you will be tackling in your home and while some home renovations are purely aesthetic, other renovations can add tremendous value and increase your home property values.

Before you decide what home renovation you should tackle, it’s best to know that there is a difference between cost vs value.

It has been in my experience that home owners believe that if they make a $100k addition, improvement, or renovation, that will increase their property’s value by $100k, but that is not true.

The fact is that every improvement, addition and renovation adds a different value to a property. The cost of an improvement, addition or renovation of a property does not determine the value. So how do you as a home owner know how much value you will add when making a renovation?

There are value calculators that are specific to neighborhoods such as East Bay that can give you an approximate value the renovation you are adding to your home could have. There is literature and guides that can give you an idea of the increased value a renovation will have.

To give you a better idea of cost vs value, I have provided an itemized table that shows cost vs value in the past years in our local area.

If you have any questions about what are the best renovations to add value to your home, contact me to schedule an appointment to go over any questions you may have.