That’s the question on the mind of every homeowner or investor who's thinking about undertaking a project to boost their home's resale value.
If your current home is not a home you plan on staying in forever then only invest your money into projects that could give you a decent return on your money when you go to sell. There are a number of remodeling projects that offer the potential for a high return on investment (ROI). Remodeling magazine's annual “cost vs value report” said some of the best renovations are those done on the exterior of the home like siding, windows, replacing a garage door, paint and door replacements. This is because they immediately improve a home's curb appeal and help with the first impression of the home. The Remodeling magazine’s report gave average percentages for each improvement. A Kitchen remodel returns 81 percent according the to report. As a contractor I can say that more people remodel their kitchens than anything else in the house. Kitchens are one of the first things looked at by a potential buyer. A bathroom remodel is 79.6 on it average return while a bathroom addition is 69.0 percent on the return. Also consider bumping out the size of a bathroom. Adding square footage to just about any home would add value and on average see a 75 percent return on the investment. Check it out for yourself at www.remodeling.hw.net/2013/costvsvalue/division/pacific.aspx
Overall I see that Kitchen and Bathroom remodels come in with some of the highest average return on investment. Making to exterior of the home appeasing and inviting is a great start for any investor or homeowner, then work your way to the inside. Remember each home is different and has different problems that should be assessed by a professional and done in the appropriate order. For example many buyers looking for a three-bedroom home want two full baths rather than one full and one half bath. What's popular now changes about every five years, us contractors call this "stylistic depreciation" so consider when you plan on selling the home when doing the renovations.
