Office 248.553.5050 - Mobile 248.219.1927 - vince@vincebrennan.com

About Metro Detroit | Listings | Sellers | Buyers | Virtual Tours | Home + add link

Renovation Returns

If you find yourself wondering what it would be like to have a larger kitchen, an extra bathroom or even a main floor family room, you are probably wrestling with the dilemma: "Should I renovate or just move?"

It is never easy to uproot your family and move to a new home, especially if you have settled in and grown comfortable where you are. This is why we are often tempted to over-improve our homes instead of just moving into a home that meets our changing needs. While it is difficult to separate emotions and memories from financial considerations, it is often helpful to step back and look at what sort of return you receive when investing in a major renovation.

The National Association of Realtors conducts an annual Cost vs. Value report to determine the best renovation investments. The chart below summarizes the national averages; you can view additional details about the survey at Realtor.org.