In a groundbreaking move, Realtor.com has launched the Renovation Calculator, a cutting-edge tool tailored to assist homeowners in gauging the potential impact of renovations on their property‘s value. As part of Realtor.com’s innovative RealValue line, this calculator empowers homeowners with a comprehensive understanding of how home improvements might influence the overall value of their residences.
The Renovation Calculator offers users a detailed breakdown, presenting estimated renovation costs alongside the anticipated increase in home value. Moreover, users can conveniently download comprehensive reports featuring itemized costs, facilitating effective project management. This revolutionary tool is powered by Kukun, a leading home data and analytics company renowned for providing homeowners with personalized estimates enriched by comparative insights, all grounded in the quality of renovations.
Dave Masters, Director of Product at Realtor.com, emphasized the significance of these tools, stating, “Whether homeowners contemplate selling or are exploring the financial feasibility of investing in home upgrades, Realtor.com’s RealValue tools, including the Renovation Calculator, can provide invaluable insights.” Masters highlighted the critical role homes play as substantial investments, underscoring the importance of comprehending the Return on Investment (ROI) for home improvement projects, especially given the current surge in labor and building material costs.
This Renovation Calculator stands as a testament to Realtor.com’s commitment to empowering homeowners, enabling them to make informed decisions about their most significant investments. As the real estate landscape continues to evolve, tools like these become indispensable for navigating the intricate dynamics of property value in the context of renovations and upgrades.