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What this year’s Cost vs Value Report says about home remodeling

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Does your Trendsetting Home Improvement Add Up?

The “cost versus value” report is out (Find the info here) and it’s a good marker of where we’re at when you look at home remodeling as an investment. The takeaway, though, is this:

Don’t get too hung up on the “down turn.” Evaluate your needs and budget and take my advice to heart for maximum gain.

Investment improvements should be reviewed just like it would be by a financial advisor. Home improvements are an asset and should not be looked at as a period in time, like an income statement, but over the life of the asset, as in a balance sheet.

Though an investment in a home today – based upon the current return on investment – may not appear strong, it is difficult to understand that such an investment will be a value holder at a later point in time.

Also remember that investing in the labor and material cost today with “2015 dollars” will be less then investing later, thanks to inflation. Translation: You’ll be paying less by investing today as opposed to tomorrow.

Further, investing in maintenance items like roofs, siding or any deteriorating elements will cost less now, as they will create greater, more expensive problems from neglect or deferred maintenance.

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