Remodeling Magazine publishes a Cost vs. Value Report each year showing national and regional data on projects, their costs, and the amount recouped in a sale. While the chart below will show the South Central region numbers on the left side of the project and the national averages on the right, Nashville’s data was not included in the report. I have no idea why. They list every other major city and have included both Memphis and Knoxville in our region. Regardless, it’s worth a look when you are considering a new remodeling project in 2009 to get an idea of what you can expect to get in return. Certainly, if you can pull off some of these projects for much less that the average (DIY-ers), you should be in better shape to recoup more of your costs.

Where resale value is a major factor in a homeowner’s decision to remodel, it is prudent to consult with a reputable local remodeler about actual construction costs and to talk with an experienced Realtor about home prices in the neighborhood. Your remodeling decisions can sometimes make or break the sale of your home…get you in the game or keep you out. So talk to professionals before you proceed. Average prices are reflected here, but simple changes in the scope or materials of a project can dramatically affect the price. There are many ways to cut costs on a project to make it more worthwhile.

Mid-range remodel in TN, AL, KY vs. National

Upscale remodel in TN, AL, KY vs. National