I thought it would be interesting to compare my home city (New York) to one in a place that I'd like to live (Phoenix/Scottsdale) using the data from the recently released Cost Vs. Value report.
Of course, the costs between the areas are quite vast. But to be honest, I don't know why some of the differences in the cost recouped are the way they are. A basement remodel in Arizona is able to recoup nearly 18% more than in New York. With space being more a premium in New York, you'd think more value would be there. Or maybe finished basements are now an expectation in Arizona. A siding replaccement in New York is almost 20% more recoupable than in Arizona. This may be because houses in New York typically have siding, whereas much of the houses in Arizona are stucco.
I find it fun to play around with the numbers, especially because I like to dream of moving one day to a sunny locale like this one. If you're like me, take a look at foreclosures for sale in Arizona.
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This post was sponsored by Scottsdale Fine Properties
Friday, December 19, 2008
Cost Vs. Value City Comparison
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1 comments:
I lived in AZ for 8 years, and never once saw a home with a basement. I don't think it's possible because of the soil (I forget what it's called but it's essentially impossible to dig through) most places you couldn't even dig a basement. Though I can defiantly see the advantages in that climate to have an area of your home be naturally cooler. Maybe that's why it's possible to get more of a return there.
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