Renovating your Home
When it comes to getting a return on your investments, not all home renovations are created equal. Here are some questions to ask yourself when considering a renovation.
What areas within my home have the most need for being updated?
When I decide to sell my home, what kind of renovations will future buyers value most?
How do I pick colors, styles, and other design options that will appeal to future buyers?
Remodeling a kitchen is a popular choice for homebuyers wanting a fresh look in a highly trafficked area of their home. Kitchen remodels can provide significant resale value. It is important to note that statistics support the resale value of a minor kitchen remodel over a major remodel.
Wood deck additions, siding, doors (entry, garage), attic bedrooms, and basement remodels are some other examples of renovations with high resale value. Be sure to research the latest trends before starting your next project. Choosing neutral styles and colors can help your home appeal to a wider range of future buyers. It's always a good idea to get multiple quotes and compare costs.
Image source: Entrepreneur.com
Renovation/Remodel Average Cost Recovery
Wood Deck Addition 80-85%
Siding Replacement 75-83%
Minor Kitchen Remodel 75-83%
Window Replacement 75-80%
Bathroom Remodel 70-78%
Major Kitchen Remodel 70-78%
Attic Bedroom Remodel 65-76%
Basement Remodel 65-75%
Two-Story Addition 65-74%
Garage Addition 60-70%
Source: Remodeling Online
Real Estate trends are always evolving. Feel free to contact us if you have any questions about how to get the highest value out of your home.