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Home Improvement Costs - Why are prices & advice all over the charts?

By
Real Estate Agent

This is one of the true mysteries with home improvement posts & articles. There is such a giant variance in price that the high end seems insane & the low end seems too reasonable.

They're smokin' something I'm afraid ....

Here's a case in point ... every year Remodeling Magazine puts out a Cost vs. Value Report that is very flashy & thorough. Prices are insane in this guide! Everyone usually goes off of this report (as the gospel) but what if you personally think it's complete nonsense based on your own experience?

What I've tried to compile is some reasonable cost sites that might be a little more help. What I've heard & seen to be costs for normal everyday home repairs.

The infographic lists some basic repairs or remodeling that one would do around the average house. These prices seem spot on plus or minus a few dollars from the 2015 prices listed.

 

how much does that home renovation project cost [Infographic]
 


Home Advisor's has a True Cost Guide that might be of more help offering local & national prices. Below is the Chicago Average Costs to install new siding.

 

And don't forget that you will not get every dime you put into your house no matter what the guys at Home Depot say. You have to keep your 'investment' in good repair beyond adding value like we are discussing here.

 

 

Posted by

 

  Lyn Sims    Schaumburg IL Area    Northwest Chicago Suburbs  ●  (847)962-7104
 
 
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Comments (5)

Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

Those are some pretty big price differences. Guess owners need to choose the price that is most realistic for their area and type of home.

Feb 20, 2017 11:54 AM
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Hella:  That's what I mean, according to the Remodeling Magazine site it's double what normally it is. I guess shopping around is everything.

Feb 20, 2017 11:57 AM
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

When preparing a home for maximum values, it seems to me there should be focus on two things:  1) what needs to be done (fixed) and 2) mass appeal.  

To me, fixing what is broken, needs paint, etc. is relatively cost affective.  No one wants their sale derailed with a ton of "to dos" on a repair addendum.  Many items that could be fixed by the seller, should be done prior to listing.

Then, if possible, tackling the mass appeal.  Kitchens and baths sell houses.  

Feb 20, 2017 01:34 PM
Lyn Sims

Thanks Carla for the comment. Wise decision to prioritize.

Feb 20, 2017 03:16 PM
Nick Vandekar, 610-203-4543
Realty ONE Group Advocates 484-237-2055 - Downingtown, PA
Selling the Main Line & Chester County

Have always thought the prices in the remodelling list were high. But i know it also depends where you are. We have a son in Charlotte who can get painting done for a fraction of the cost of what we can up here in Philly. Just have to price it out and find reputable workmen as well.

Feb 20, 2017 02:03 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

It really is always good to map everything out as much as possible so you can get your ID is kind of out of your head and onto something real, you know?

Feb 23, 2017 11:43 PM