Which Remodels Give You The Best Return For Your Investment?
Do you know how much your remodel is worth?
First and foremost, a home remodel should be about making your home more functional, more beautiful, and more tailored to your family’s preferences and needs. With that in mind, we all know that a remodel also increases the resale value of a home, which shouldn’t be overlooked. Like many homeowners, you probably want to rehab a lot of different areas of your home but don’t have an infinite budget. If you understand which remodels give you the best return on your investment, this knowledge can help you make your decision on how to spend your remodel dollars.
Fortunately, Remodeling Magazine actually crunched the numbers and came out with a fascinating Cost vs. Value Report that lists which home projects (from a list of 35) provide the highest return on investment for homeowners.
You’ll probably be surprised to learn what topped the list in the Pacific region, which includes California:
- Deck addition wood: 109% ROI
- Minor kitchen remodel: 104%
- Attic bedroom: 102% ROI
- Family room addition: 90% ROI
- Bathroom remodel: 92% ROI
- Major kitchen remodel: 89% ROI
- Master suite addition: 81%
- Bathroom addition: 78% ROI
A remodel isn’t cheap, and homeowners always wonder if they’ll ever see all of the money that they are sinking into a project. The results of this report should give you hope. What I think is very intriguing is that one of the best returns on investments is a minor kitchen remodel. Even if you aren’t ready to plunk down $50,000 for a major kitchen overhaul, just replacing your cabinets, countertops, appliances, and lighting can be well worth the cost. Also, never forget the value you’ll get when you enjoy your house more.
For example, if you add an attic bedroom, your second child can finally have his or her own room, or you can finally feel secure in inviting family and friends to stay over in your new guest bedroom. These improvements can increase your quality of life and help you fall in love with your home all over again. The fact that you’ll get more for your home when you choose to sell is just icing on the cake.
Take a look at the full Cost vs. Value report for the Pacific region. If you are ready to invest in your San Diego home and your happiness at home, contact Best-Rate Remodel.