If you are planning a remodeling project such as a home addition, a kitchen or bath remodel, or perhaps some exterior painting, it's best to follow these tips.
1. Research your local real estate market to see what similar homes that already have these features go for.
2. Contrary to what you see on TV, not every remodeling investment will give you a 100% instant return.
3. The location of your home or remodeling project can have a major impact on whether or not you will be able to recoup your remodeling costs instantly.
4. Don't over build for your neighborhood.
5. Use our Automated Contractor Locating Service to get in-touch with professional contractors. Simply answer the form at the bottom of this page. 6. You should plan to stay in the home for a few years if you are planning a remodel. Flipping real-estate doesn't always workout.
Recent Remodeling Investment Returns
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Minor Kitchen Remodel: 125% (Connecticut)
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Basement Remodel: 98% (California)
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Bathroom Addition: 96% (Missouri)
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Major Kitchen Remodel: 92% (Kentucky)
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Bathroom Remodel: 90% (Oregon)
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Exterior Paint: 90% (Pennsylvania)
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Master Bedroom: 86% (Florida) |
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Kitchen and bathroom remodeling usually offers the highest ROI; usually between 80 to 100%. Also bathroom additions are good investments as long as you do not go to fancy and overbuild for your neighborhood. Bedroom additions and remodels are good investments but sometimes it may take a few years to recoup the cost on a large bedroom addition.
Things To Keep In Mind To Boost Your Remodeling Investment Returns
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Improve your curb appeal by freshening up the paint, clean up your lawn, and maybe plant some attractive plants before you call a Realtor to sell your home.
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Don't mess up the original design of the home by building on something that doesn't look like it belongs to the original house.
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Remodel for your needs not all your wants. This is where most people go wrong.
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A huge addition in a modest neighborhood will not give you a good return on investment (ROI). |
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