Is your home in need of attention? Do you have a list of projects that you are checking twice but just don’t know where to begin? Why not start with how much return you would gain for the doing the work?
With any project that you may be thinking about doing in your home, an important consideration is the return that you will receive for the upgrade when you sell. It is different for each project and should really only be considered if you plan to sell within the next five years. Unless you are planning to sell right away, there should also be a balance between choices in your project that will increase the value and choices that may not be relevant but will be items that you can personally enjoy for the years you live there.
If you are thinking about a remodeling project, but are not sure if it will bring enough of a return to justify, read on as we go through the top projects that will practically pay for themselves!
The number one project on the list is a bathroom remodel giving an exciting 103.2% of return. Do you love your property and your neighbors but your tiny house isn’t cutting it for your growing family? Turning an attic space into a bedroom will give you 98% and a room addition is at 75%. Adding a second story still gives you about 69%. The gourmet kitchen you’ve always wanted…expect an average of 90% back, depending on how extensive the work is. Need new windows to keep that cold air out? That will give you 88%!
It is thrilling to see these numbers improving year after year. This is a great time to remodel as the market continues to recover. Why not take another look at that list and decide which project is next?