National perspective. Sorted by the highest return on investment, this chart ranks all 22 projects in the 2022 Cost vs. Value report.
National perspective. Sorted by the highest return on investment, this chart ranks all 22 projects in the 2022 Cost vs. Value report.

Real Estate Agents know the market

Based on this article, real estate professionals were surveyed about the value of 22 projects that were underway in their area. Real estate agents and realtors have a pulse on the market. They keep watch of interest rates, marketing and neighborhood trends. They have information on what's new in the neighborhood and what recently sold.  Because they have a wealth of knowledge, experience and information it can save you time and money when considering remodeling or replacing items in your home, especially if you're considering selling your house.

Millennials, value homes with spruced up exteriors, updated amenities, and modern appliances throughout.  Growing families are interested in enhancing their lifestyle without adding on the cost of updating an existing home.

Homeowners who want to get the most for their home will consider what they could lose if they don't update or remodel their homes. Some things never change, such as local market trends, curb appeal, updated kitchens and bathrooms. These are all winners to home buyers.

Even though interest rates continue to rise, we're still in a seller's market. If you decide to keep living in your residence, updating your house allows you to enjoy it until you decide to sell. Virginia Beach has a lot of older homes that have not been remodeled or updated, so this remodeling cost versus evaluation can give some insight between how much it would cost to update something in one's house versus how much they would recoup if they sold the home.