We all know, this is how it starts. The sink drips. A cabinet door is loose. The plastic door handle breaks off the microwave. Thousands over budget and six months later you have a brand new kitchen.
According to the 2014 Cost vs Value Report by Realtor® Magazine, the top remodel projects that provide the best return on investment are:
Deck addition – 87.4%
Major kitchen remodel – 63.6%
Bathroom remodel – 63.6%
New roof – 63.0%
Basement Remodel – 77.6%
Strange as this may sound, it’s not really about what you like. It’s about what you can sell in the future when you plan to move. Paint, up-to-date cabinetry and energy star appliances are all a fairly current kitchen needs. But if you’re staring at the business end of a fruit-painted tile overlooking a harvest-gold appliance, a major reno may be in store for you.
Just remember, when searching for a contractor, it’s great to get reviews and especially recommendations from friends. This is a good rule of thumb to follow – contractors are only as good as their last completed project. Compare differences in labor, labor costs, materials, etc. All these things factor into your decision, and references from two years ago might not be helpful today in the decision-making process. Holmes By Design does an amazing job!
I did a little research on some of the biggest bangs for your buck – here are a few sites that offers some great info:
Houzz.com – 10 Ways to Books Your Home’s Resale Value
ThisOldHouse.com – Renovations That Give You a Return on Your Investment
And for more information on the Real Estate Market or Your Homes Value, visit my website for everything for the Real Estate Obsessed!
Happy remodeling!
