In a fickle market, selling your home can be frustrating! How do you guarantee a return worthy of listing your home, staging it to sell, accommodating countless showings and more? You remodel! While remodeling is a great way to differentiate your home from the rest, it is time-consuming and doesn’t always yield the results you expect. However, when done strategically, it can be a great investment. Which remodels yield the most significant return on investment? We’ve got the answers! According to the National Association of REALTORS® 2017 Remodeling Impact Report, these 12 home remodeling projects, in order of most to least appealing, are among the best to add value to your home at resale.
Complete kitchen renovation
Cost estimate: $65,000
Return estimate: $40,000
Return on investment: 62%
Kitchen upgrade
Cost estimate: $35,000
Return estimate: $20,000
Return on investment: 57%
Bathroom renovation
Cost estimate: $30,000
Return estimate: $15,000
Return on investment: 50%
New wood flooring
Cost estimate: $5,500
Return estimate: $5,000
Return on investment: 91%
Add new bathroom
Cost estimate: $59,000
Return estimate: $29,750
Return on investment: 50%
Hardwood flooring refinish
Cost estimate: $3,000
Return estimate: $3,000
Return on investment: 100%
New master suite
Cost estimate: $125,000
Return estimate: $65,000
Return on investment: 52%
New HVAC unit
Cost estimate: $7,475
Return estimate: $5,000
Return on investment: 67%
Basement conversion
Cost estimate: $40,000
Return estimate: $25,000
Return on investment: 63%
Closet renovation
Cost estimate: $3,750
Return estimate: $2,000
Return on investment: 53%
Insulation upgrade
Cost estimate: $2,100
Return estimate: $1,600
Return on investment: 76%
Attic conversion
Cost estimate: $75,000
Return estimate: $40,000
Return on investment: 53%
These home remodeling projects will guarantee you the most significant return on investment when it comes time to sell your home! Plus, in the meantime, you’ll get to enjoy the newly renovated space.
Do you have any questions about any of these renovations? Or, are you looking for a list of maintenance vendors in the area to help with the project? We’re here to help in any way we can! Give us a call today!