The market value of property appreciated on account of changing circumstances or improvements to it, for example.
This year I remodeled my kitchen by replacing the conner top and refacing the cabinets at a cost of $57,000. This improvement to the kitchen will increase the market value of my house.
Middle-range kitchen makeovers have a greater expected ROI than high-end updates. This ROI applies to projects where you spend less than $69,000. For example, if you’re spending $69,000, expect to recoup around $34,500 to $41,400. In addition, a project’s location may influence the estimated ROI of your kitchen renovation. For instance, if you’re living in the Pacific region, then your expected recoup is 93%, while the national average is 68%.