Every year, Remodeling Magazine releases a list of the value that can be expected from undertaking various home improvements. This is a great reference to use as an estimate before you undertake any type of improvement that you expect to recoup at least part of. This year, the numbers aren't as bad as you might think they would be, but they are as of August, so they do not take into account the recent financial meltdown.
If we look at the national data, every mid-range improvement this year brings in less value that that same improvement would have in the previous year. Upscale improvements fared a little better, with 3 out of the 11 improvements listed increasing in value from last year. But, the good news is the decrease from 2006 to 2007 was even greater than from 2007 to 2008. Does that mean the real estate slump is over? I doubt it, so I'm not sure what to make of that. If you want to read an overview of the trending, check this out.
I highly suggest that you check out this video overview. This year, the data is broken down by cities so you can really drill down your projected cost versus value. 22 new cities have also been added. The tool also allows you to compare cities and time periods, which is interesting for nosey people like myself.
I'm sure I'll delve more into this data and get back to you with more insights.
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