Home Remodeling Projects
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Real Estate Markets • Remodeling For Resale • Location Factor
Simply sprucing up your house makes a huge difference when it comes time to sell — a fresh coat of paint, clean carpets, and weed-free planting beds can make a world of difference. For bigger projects, focus on your kitchen and bathroom first. You will generally recover about 80% of the cost of a kitchen remodel and 90% of what you spend for a bathroom renovation.
The most popular minor improvements in the kitchen include adding extra
sinks and cooking stations as well as cosmetic improvements such as
under-cabinet lighting and new countertops and backsplashes.
Granite and marble are very popular and durable
countertop choices.
Popular renovations in bathrooms include skylights, whirlpool tubs, large
walk-in showers, glass block windows, and vaulted ceilings.
Cosmetic renovations that also return up to 70-80% of your investment
include new siding and windows.
What renovations don't pay for themselves at resale time? Well, that
partly depends on your part of the country. For example, homeowners
in the sunny south often recover up to 95% of the cost of a new sunroom,
while homeowners in the north recover far less. One addition that
rarely pays for itself is a swimming pool. If you want to do these
types of renovations for yourself, go ahead — but don't expect them
to raise the value of your house.
As you update your house, keep the overall neighborhood in mind.
Most buyers look for a house that's surrounded by homes of equal or
greater value. Choose your updates carefully so you stay within
your neighborhood's average price range. Do you want to know what
homes in your neighborhood are worth? Type an address on
Zillow for a quick estimate.
If you plan to renovate or repair your home before putting it on the market, it is important to select your home remodeling contractor carefully. Use a qualified contractor and get the job done right! For more information about choosing the best remodeling projects for resale, see the 2015 Cost vs. Value Report that compares the cost of construction to the likely return on investment (ROI) at resale.
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