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Is there a rule of thumb to figure the ratio of amount spent on home improvement to the value of the home?
Wiki User
∙ 13y ago
If you work on the theory of 25-30% markup on the general cost of items, this can be applied to renovations. There are variables to consider. The initial value of your property. ie: is the property rundown or new. The quality of the renovation, is it done professionally. Obviously the shape of the property market, is it crashing or rising? The cost of the renovation, you can spend too much. The adage of the best property in a crap neighborhood, comes to mind, no matter how much is spent you will not realise this if all around is bad.
So taking in these variables, not exhaustive by any means, the 25-30% rule of markup will apply. But do research before embarking on expensive renovations. It sometimes gets to the point where it is more cost effective to bowl a house and start from new, always keep this in mind when doing very large scale renovations.
Hope this helps.
Wiki User
∙ 13y ago
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