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Home Improvements ROI

- Tuesday, October 11, 2011

If you’re planning on a few home improvements, it's best to know which of them are likely to pay off if you sell your home and which won’t. ROI, or return on investment, should play a part in your plan. Basically, it is how much money you could recoup when you sell. Will that minor bathroom remodeling job be a good investment or not? Should you spend the extra money to fix up the kitchen?

More often than not, sellers can get back a substantial percentage of their outlay for a variety of well-executed improvements if they keep the market in mind.

According to the Cost vs. Value Report a "minor" kitchen remodel (in home improvement speak that's about $20K) is usually a good investment. The national average for cost returned is about 83%.

Keep in mind that spending more doesn't necessarily mean you'll get back a higher percentage later. In the last year, an upscale kitchen makeover, which might involve installing custom cherry cabinets and other luxurious amenities, the average recouped value is lower (about 78%) than for a minor kitchen remodeling project (83%) that is much less extensive or expensive.

This is why you should consider spending less and getting a larger return on that investment. If you have nice solid, but perhaps run down kitchen cabinets, consider kitchen cabinet refacing or refinishing. Contact us.

Original article - Demesne


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