Sadie
Elite Member
- Joined
- Mar 20, 2008
- Professional Status
- Certified Residential Appraiser
- State
- Oregon
You have probably already dealt with this, but remember the A in Zillow is for accuracy.
Also with remodeling, its not just the cost of remodeling, its also the loss of value for the thing you are removing. Simple example-updating an 80's kitchen. The kitchen still functions, so there is the loss of that value. The replacement of it will result in an increase in value less than the cost to remodel.
Or cost to remodel/update - current value of kitchen should = your return. Of course it is real estate so its a little squishy.
Also with remodeling, its not just the cost of remodeling, its also the loss of value for the thing you are removing. Simple example-updating an 80's kitchen. The kitchen still functions, so there is the loss of that value. The replacement of it will result in an increase in value less than the cost to remodel.
Or cost to remodel/update - current value of kitchen should = your return. Of course it is real estate so its a little squishy.