What is the real value of home remodeling? Before you embark on a remodeling project, you may want to know some facts about the potential boost to your home value. After all, remodeling is an investment, and it’s one that you want to pay off when you sell your property.
Let’s take a closer look at what remodeling different areas of your home can mean to your home value. Once you have this information, you can confidently move forward with a project that gives you the ROI you desire.
What’s the Value of Kitchen Remodeling?
Many real estate agents will tell you that an impressive kitchen will sell your house. Whether you go for an upgrade or a full renovation, investing in kitchen improvements will most likely increase the home value. However, it’s not a guarantee. Data from the National Association of Realtors (NAR) reveal that kitchen renovations tend to have a greater impact on home value than a basic upgrade. Still, the average ROI is around 62%. But if it helps you sell your home, rather than having an extended stay on the real estate market, it can be worth it.
What Kind of ROI to Expect from Bathroom Remodeling?
You will likely recuperate an estimated 50% of the costs you spend on a bathroom remodeling project, according to a study from the National Association of the Remodeling Industry. While that may not be the ROI you’d prefer, a proper remodel can be the difference between attracting buyers and turning them off with an outdated bathroom. By creating a more functional space, updating worn-out bathroom features, and adding modern fixtures, buyers may be willing to pay a higher price than they would without the effort.
Should You Remodel the Entire Home Before Selling?
Unless your home is in poor condition, you should rethink investing in a whole-home remodel just for ROI purposes. Of course, if you want a remodel to increase your home enjoyment, it’s well worth the investment. But if you are considering a remodel to sell the home, it may not be necessary.
The thing is, most buyers shopping for a home do not expect every room to look brand new. For optimal results and ROI, identify which areas of the house need the most TLC. Then, work with an experienced remodeling team to determine your best plan of action. The goal is to make a positive impression on your potential buyers. There are creative remodeling strategies you can employ without the expense and effort of a whole-home remodel.
Turn to Hometime Residential Construction for Expert Remodeling Strategies
Whether your primary focus is on ROI or you want to fall in love with your home again, our expert team has the remodeling strategies to achieve your goals. We offer personalized service to help you stick to your budget. We also strive to exceed your expectations with the highest quality and craftsmanship. Connect with us online to begin your Hometime Experience.