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Value of major remodels slips as home prices soften

from By Michael J. Berens

The cost of undertaking a major remodeling project increased last year, but the added value of those projects declined. That finding, from Remodeling magazine's 2015 Cost vs. Value Report, reflects a substantial drop in the overall rise of home prices last year (from 10.8 percent in 2013 to 4.8 percent in 2014). With the growth in prices expected to slow even further this year, homeowners looking to sell may begin to have second thoughts about undertaking high-priced projects for which they will get a poor return on their investment. more

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