Grand Rapids Michigan Cost vs Value Report 2010

By
Real Estate Agent with Westbrook Realty Broker-Owner

The New Remodeling Magazine is out with the annual Cost vs Value Report.

 

master bath

 

One of the most common questions sellers and buyers ask me is:

 "Should I remodel  or add on to my house?  

 Is adding another bathroom going to be money I can recoup when I sell?"

 

Even today’s buyers that are buying at 2000 or before price levels, need

to be smart about home improvements if they think they will be moving

 in the next 10 years.  It is always intriguing that some areas of the

country value some home additions more or less than others.

 

This report gives an estimation of the return and an approximate cost of

several common remodels, additions and rehab projects in the home.  It

is specific to different regions of the United States.  

 

 2009-2010 COST vs VALUE REPORT

 

 Since we are from Grand Rapids Michigan we have directed you to that page

but you can navigate to other areas of the country from there. We hope this

article is helpful in the decision making process,  if you are considering a

home remodel or addition.

 

As always, feel free to call me about specific questions for your specific area.

 

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the Greater Grand Rapids MI area, and what it is like to live in

West Michigan.  We believe: Grand Rapids is a Great Place to Live!

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                          Contact Terry   616-292-7263

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Bonnie & Terry Westbrook 01/31/2010 02:34 AM
Topic:
Real Estate General Information
Location:
Michigan Kent County Grand Rapids
Groups:
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Kent County MI Real Estate
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West Michigan Real Estate
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Tags:
kent county real estate
grand rapids mi real estate values
home improvement costs in west michigan

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Rainmaker
1,052,646
Steve Loynd
Alpine Lakes Real Estate Inc., - Lincoln, NH
800-926-5653, White Mountains NH

Terry...These valued added updates change from year to year, one year it's kitchens the next it's windows. With the green building products out we are doing more and more Geothermal heating systems

Jan 28, 2010 07:46 AM #1
Rainmaker
720,587
Teri Eckholm
Boardman Realty - White Bear Lake, MN
REALTOR Serving Mpls/St Paul North & East Metro

Terry--I love this report and how it breaks things down into different regions. Good information for all!

Jan 28, 2010 12:40 PM #2
Rainmaker
575,553
Terry & Bonnie Westbrook
Westbrook Realty Broker-Owner - Grand Rapids, MI
Westbrook Realty - Grand Rapids Forest Hills MI Re

Steve, I do think that Green will get more important. The tax credit for energy should be extended.

Jan 28, 2010 02:08 PM #3
Rainmaker
575,553
Terry & Bonnie Westbrook
Westbrook Realty Broker-Owner - Grand Rapids, MI
Westbrook Realty - Grand Rapids Forest Hills MI Re

Teri, I think the public wants this type of information.

Jan 28, 2010 02:09 PM #4
Rainmaker
635,293
Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

Great to get this chart out there!  I have had clients in the past that thought were surprised when I presented them with similar numbers - you just can't recoup as much as you put in!

Wake Forest NC House Chick

Jan 29, 2010 03:33 AM #5
Ambassador
3,681,846
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Terry and Bonny, it's always interesting to look at these numbers.  It makes you wonder how the flippers turn a profit.

Jan 29, 2010 05:24 AM #6
Rainmaker
2,605,131
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Terry and Bonny - I would die to have a bathroom like that:-) 

Jan 29, 2010 10:20 AM #7
Rainmaker
575,553
Terry & Bonnie Westbrook
Westbrook Realty Broker-Owner - Grand Rapids, MI
Westbrook Realty - Grand Rapids Forest Hills MI Re

Leesa, In most cases they need to enjoy the addition or improvement and not do it for the return.

Jan 29, 2010 03:20 PM #8
Rainmaker
575,553
Terry & Bonnie Westbrook
Westbrook Realty Broker-Owner - Grand Rapids, MI
Westbrook Realty - Grand Rapids Forest Hills MI Re

Patricia, In our are the builders are doing it and keeping busy at least  they can sell them and make a little money.

Jan 29, 2010 03:21 PM #9
Rainmaker
575,553
Terry & Bonnie Westbrook
Westbrook Realty Broker-Owner - Grand Rapids, MI
Westbrook Realty - Grand Rapids Forest Hills MI Re

Myrl. It is one of my current listing the whole house it fantastic.

Jan 29, 2010 03:22 PM #10
Rainmaker
1,056,396
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

The annual cost v.s value report is always great information to provide consumers. I have of course done the same:)

Jan 30, 2010 04:48 AM #11
Rainmaker
1,041,555
Charles McDonald
Charlottesville Real Estate Solutions - Charlottesville, VA
REALTOR®, Blogger, Principal Broker®, Owner

This looks like a great place. Must be "value"

your friend in Charlottesville Virginia!

Jan 30, 2010 09:38 AM #12
Rainmaker
575,553
Terry & Bonnie Westbrook
Westbrook Realty Broker-Owner - Grand Rapids, MI
Westbrook Realty - Grand Rapids Forest Hills MI Re

Bill, We all need to promote the report I think clients want to see it.

Jan 30, 2010 11:56 PM #13
Rainmaker
575,553
Terry & Bonnie Westbrook
Westbrook Realty Broker-Owner - Grand Rapids, MI
Westbrook Realty - Grand Rapids Forest Hills MI Re

Charles, Value is in the eye of the beholder. Everyone has there own idea of what is valuable to them.

Jan 30, 2010 11:58 PM #14
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Rainmaker
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Terry & Bonnie Westbrook

Westbrook Realty - Grand Rapids Forest Hills MI Re
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