It is the beginning of a new year and guess what….. it is tax time! If Uncle Sam or Sonny Perdue is going to be good to you this year and provide you with a tax refund, you may consider allocating some of your proceeds towards a remodeling project in your home.

As mentioned in a previous article, our community in West Cobb is changing and new construction is driving a competitive advantage for families looking for the latest and greatest features in a home. Existing homeowners must update aged and outdated features in order to compete with this new construction. This year, Americans will spend more than $233 billion remodeling their homes. Whether it's upgrading the kitchen, adding a window or replacing siding, many of these improvements do ultimately increase the value of your property. Homeowners as me, "Todd, where do I start and how much should I spend?"

Guidance can be provided by reviewing the "Cost vs. Value Report", published by the National Association of Realtors in conjunction with Remodeling Magazine. This report compares the cost of 18 typical remodeling projects against the added value those projects can be expected to bring at resale and serves as a tool for real estate professionals and homeowners who are considering which improvements will add value. Organized by project, the report evaluates 53 cities across the country organized by region- East, Midwest, South and West. A detailed description of what each renovation entails, including its size and construction parameters is provided in the report.

A national average of value add on a few projects:

Whatever remodeling project you choose, be very careful not to go overboard. High end improvements might look appealing and improve the image of a room, but will provide no additional value add. THE BOTTOM LINE: if you plan on selling your home in the next 2 - 3 years, identify those areas/rooms that will maximize your value add. If you have no intentions of selling in the next 3 years, consider remodeling those areas/rooms with a flare and taste that will provide you with enjoyment and take the above information into account to ensure you are considering the value add.

Feel free to contact me at 678-521-5876 or Todd_Moschner@simplysold.com for the complete "Cost vs. Value Report" or for more information on remodeling recommendations that will add value to your home.