Note "Minor" kitchen remodel
Where We Get The Data
Cost data for the Report come from Home-Tech Information Systems, a remodeling estimating software company in Bethesda, Md. HomeTech collects current cost information quarterly from a nationwide network of remodeling contractors, and its cost figures include a 40% margin. Costs are adjusted to account for city-to-city pricing variations.
Resale values do not reflect actual sales made on remodeling projects. Instead, they are based on the professional judgment of members of the National Association of Realtors (NAR) about each remodeling project's anticipated resale value. E-mail surveys containing cost and median home price data for each city were sent to more than 20,000 appraisers, sales agents, and brokers, generating 356 responses (a 1.78% response rate). According to The Farnsworth Group, the data accuracy rate is +/- 5% to 10%.