Remodel

Are you thinking of remodeling your home? Consider the return on your investment before remodeling. Not all remodeling projects yield the same return when it comes to increasing the value of your home.

Money spent updating your home's kitchen and baths is your best remodeling investment, returning a nearly dollar-for-dollar increase in home resale value. Updated kitchen and bathrooms make your home that much more attractive to potential buyers when you do decide to sell.

By comparison, converting a basement into a family room or adding outdoor recreation facilities such as a swimming pool or sport court yield the lowest return on your investment.

Sometimes, the cumulative effect of several smaller projects can actually yield a higher resale value than one or two larger ones. Smaller projects tend to be more cosmetic in nature - new paint, doors or windows. Larger projects that upgrade or add living space may cost more, but almost always add less resale value.

Finally, be careful of over-improving for your neighborhood. Remodeling projects that are more extensive than neighboring homes won't return as much when it comes time to sell.

If you have any questions or you'd like additional information, please don't hesitate to call or email me.