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Home Improvements ROI

Joseph Coupal - 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

Home Improvement Projects Pay More Than a Savings Account

Joseph Coupal - Tuesday, August 09, 2011

There are many homeowners that are hesitant to put their homes on the market today because they don’t feel as though they would get the asking price for it. Combine this with the lowest personal savings account interest rates in history and you have more people investing in their homes than ever. If you are going to keep your house, you may as well make it more comfortable while you’re there, and when you do sell it, the return you will get will most likely be higher than any interest rate.

One of the home improvement projects that do pay - Remodel the kitchen:

An average kitchen remodeling project takes nine months to plan and three months to build, according to the National Kitchen and Bath Association. You can improve the overall look and feel of a kitchen with a lot less work and money simply by refurbishing what you have. Some refurbishing options include refaced cabinets instead of new, resurfaced countertops or an added backsplash, updated flooring and under-cabinet task lighting.

Regardless of the project you plan to undertake, there are a few things you can do to ensure you get the most for your money.

  • Establish a budget:
  • Hire a qualified remodeler who is familiar with local building codes.
  • Compare products and prices before you begin.
  • Work with a contract.  


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