"One person may have contributed more than the other, and there are two sources of that contribution -- whose money paid for it and whose time managed it -- so they can negotiate the value of the renovation," he said.
Either way, that opens the way for an argument that Mr. Stevens, a busy lawmaker, did not keep close track of the true value of the renovation and items and believed that he had paid the full amount for them.
Today, the value of home renovation projects is a whole new ballgame.
To highlight the increasing value of a smart renovation, the sustainability of the energy solutions has been analysed verifying how a good rating can be obtained, within the early design process, in the energy performance sectors.
To some extent, the value of certain home renovation projects depends on location, and there are national and regional resources available to help you make the best decisions for your project.
The goal is to make an offer of 55% to 65% of that value, less renovation costs.
That is, the loans are based on the enhanced value of the property when the renovations are done.
Back when housing prices were still rising, Americans borrowed exuberantly against the value of their homes to finance renovations, vacations and shopping sprees.
But the cost of renovation, he added, may exceed the house's value.
He is often asked how much renovation increases the value of a property and how to factor in who did what in a settlement.
