Realtor.com has introduced a new Renovation Calculator, a new tool designed to provide estimates on the impact of renovations on property value.
As the newest tool in Realtor.com’s RealValue line, the Renovation Calculator is designed to give homeowners a better understanding of how renovations may affect the value of their residence. Users are presented with estimated renovation costs and the potential increase in their home value, and detailed reports with itemized costs can be downloaded to help with project management.
The tool is powered by Kukun, a home data and analytics company that gives homeowners personalized estimates with comparative insights based on the quality of renovations.
“Whether homeowners are thinking about selling, or just want to know whether it makes financial sense to invest in home upgrades, Realtor.com’s RealValue tools, including the new Renovation Calculator, can help,” said Dave Masters, director of product at Realtor.com. “Our homes are often our biggest investments and, with the cost of labor and building materials on the rise, it’s important to understand the ROI of a home improvement project or how different upgrades or design choices might impact the value of a home.”