Remodeling: Return on Your Investment

It is common knowledge that kitchens and bathrooms are the biggest draw for most home buyers, and can be the determining factors when making the decision as to which property to purchase.  But when considering a remodeling project in one or both of these rooms, a complete overhaul may not be necessary. Even a minor kitchen remodeling project may bring the highest return when it comes time to sell the property in the future. Following is a ranking of  the Top 10 projects in order of return for the home purchasing dollar.

1. A minor kitchen remodel brings the highest return.(This according to the national average, which may not be the highest in your location.)

2. Bathroom addition.

3. Major kitchen remodel.

4. Family room addition.

5. Two-story addition.

6. Attic conversion to a bedroom.

7. Creation of a master bedroom suite.

8. Bathroom remodel.

9. Siding replacement to add curb appeal.

10. Entertainment remodeling.

Please note that other things such as a patio, pool, or other exterior improvements are not mentioned, simply because the return is less than the above listed items.  Additionally, a new roof  is not one of the Top 10 because buyers expect the home to have a good roof when the purchase is made. In short, any remodel should be a recognizable improvement to the property. If you get a “WOW” response, it’s a good bet your ROI will WOW you!

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