Most homeowners remodel their homes to improve their quality of life. Nearly all hope the renovation adds equity to their home so that when it comes time to sell, they will recoup a portion of the expense.
But not all upgrades are smart. Over-improving or over-personalizing a home may end up costing a homeowner more money.
“One skill that I’ve developed during my time as a real estate broker is to understand which home improvements will give you the most significant possible return when it comes time to sell,” said Dan Rochon, a real estate agent with Keller Williams. “After helping hundreds of clients sell their homes for maximum profit, we have found that the best places to spend money are in the kitchen, the bathrooms and out front with your curb appeal.”
Each year, Remodeling magazine puts together a cost-vs.-value report, which compares the average cost of 22 remodeling projects with the value those projects retain at resale in 136 U.S. markets. We selected six projects to show which provided the best return on investment. In each category, we list the cost of the renovation, the amount the improved feature will add to the resale price and the percentage of the cost recouped. We used national figures, but if you go to the magazine’s website, remodeling.hw.net, you can get the breakdown by region and city.
Source: https://wapo.st/2MlvT58
