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Today I have three different renovations that will provide the best possible return on investment when it comes time to sell your home:
1. Kitchen remodels. A kitchen remodel can dramatically upgrade the appeal of your home to potential buyers, as well as its value. The repairs can be as simple or as elaborate as you like, but a good rule of thumb is to keep the total price of the remodel under 10% of the value of your home in order to get a good outcome. A good outcome would be around an 85% return on investment.
2. Bathroom remodel. A thorough bathroom remodeling project can cost thousands, but it’s worth it. It will pay for itself and give you an additional 80% return as well.
3. Deck or patio upgrades. These can cost anywhere from a few hundred to tens of thousands of dollars, depending on the size and upgrade. You can expect around an 80% return for this kind of project as well.
These are just a few of the most common areas where you can get a good return. However, every home is different. To get an idea of what your home is worth in this market with and without renovations, don’t hesitate to give me a call or send me an email. I would love to hear from you and give you a hand.