Other replacement projects that yield a good return include swapping out old windows for new vinyl or wood frames and installing a new roof, offering returns of 71% and 62%, respectively. It’s worth noting that ROI numbers can vary depending on your specific market. So, a little local research (or a chat with your Now, let’s talk about remodeling—because what’s life without a little risk, right? One of the main benefits of redoing a room or two inside your home is that it can dramatically increase your enjoyment of the space. After all, a kitchen you love can make even cooking dinner a little less of a chore. favourite real estate agent) might be in order. Remodeling: The Good, The Bad, and The Costly But if you’re planning to sell, it’s crucial to extend that good impression from the exterior to the interior with further improvements. However, as with all things in life, there are better and worse ways to spend your money. And here’s where it gets tricky. As the old saying goes, “Kitchens sell houses.” And it’s true—kitchen remodels average a return of 79.3% nationwide, making them one of the best investments for a full-blown renovation project. Other worthwhile remodels to consider include: • Attic bedroom conversion: 53% But beware—these projects can be expensive, with national average costs running into the tens of thousands of dollars. So, it’s essential to consider how much you’re willing to spend and what’s in demand in your market to maximize your return on such a large investment. Additions: When Bigger Isn’t Always Better • Bathroom remodel: 62% • Basement remodel: 63% Considering adding an entirely new room to your home? This can add value and improve functionality, but it’s also a major step with a hefty price tag. Room additions generally aren’t cost-
11
Powered by FlippingBook