You may be thinking about a home remodeling project, but you are not sure that you will have to spend more than a couple of years in your home. Don’t worry. Even in today’s economy, it is possible to renovate a house and still get a good return on investment (ROI).
Kitchen: – Today, the kitchen is in the middle of the house and the focus of every home buyer’s attention. It makes the kitchen remodeling projects the king of ROI. Real estate agents estimate that a good kitchen renovation can yield an 80% to 100% return on the money you invest. In today’s market, an up-to-date kitchen will also make your house sell more easily and quickly.
Bathrooms – Bathroom remodeling projects are usually second only to kitchens when it comes to ROI. Why a dated bathroom can make a house appear older, is one of the best places to invest your money. ROI for bathrooms averages 70% to 90%, but you should think of the trend. Many buyers look for bathrooms that feel spa-like and relaxing, with little touches, such as multiple showers or even steam rooms.
Windows and Facades – If you are looking to sell your home, consider replacing old windows or deteriorating coatings, projects that can give a return of about 80%. Many buyers today are thinking about energy efficiency, so consider energy-efficient replacement windows. If you buy an Energy Star-rated windows, the government will also give you a tax credit of up to $ 1,500.
Attics and Basements – Putting in an attic bedroom or remodeling your basement to create more usable living space can increase your quality of life…and your bottom line. The return on investment estimates for these projects is approximately 75%.
Simple Fixes – don’t just focus on major alterations. If you are planning to put your house on the market soon, a new look can be as simple as a coat of paint in a neutral color or replacing pulls and knobs on your kitchen cabinets. Fairly superficial improvements such as replacing worn flooring or dated that looking countertops can also make your home more attractive to the buyer.
Joaquin Erazo, Jr. is the senior vice president for marketing and public relations at Case Design/Remodeling, Inc. Find a local home remodeler near you!
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(c) 2010 Joaquin Erazo, Jr.