According to Remodeling Magazine's 2009-10 Cost vs. Value report, the South Atlantic Region continue outperforming the rest of the nation by a considerable amount, with returns of 94.8%. Although construction costs are nearly double national averages, value at resale for the South Atlantic Region outstrips national averages by more than 33%. The result is an average cost recouped percentage that is 14.8% higher than the rest of the country.
Some interesting trends have developed over the past year and are expected to continue through 2010. Kitchens and bathrooms continue to offer strong value along with converting attic spaces into spare bedrooms. Generally, families are focusing on remodeling their bathrooms; especially master suites, and converting attic spaces into spare bedrooms - the least expensive way to add conditioned living space. For many professional Remodelers, kitchens and bathrooms were remodeled, expanded, and updated more often during 2009 than at any other time during the last 18 years. This trend is expected to continue throughout 2010 as bathrooms and kitchens simply wear out and families need more living space. For many in this economic environment, adding space and updating tired bathrooms and kitchens is far more cost-effective than moving.
The Savannah area is considered by many to be the finest place to live in the country. World-renowned for its historic preservation and timeless southern charm. That small town feel, smell of the marsh, lazy rivers, fresh caught seafood, and the best in shopping destinations. Picturesque river and marsh-front settings, short drives down cobblestones or winding dirt roads that place you at the beach enjoying a sunrise breakfast as the waves provide the music. It’s easy to see why the Savannah area is such a highly desirable place to live and raise a family. This also explains why the Savannah area homes and home renovations hold their value.