Home Upgrade Returns

“But I have just spent $50,000 in upgrades for my new kitchen and bathroom.  Are you telling me that isn’t adding $50,000 to the value of my house?”

Well, yes, is the qualified answer to that question.  While a really dingy or icky feeling bathroom or kitchen can hurt the value of a home it is far from clear that a major remodeling can be recovered in resale.  Certainly, this upgrade will add value but rarely to the extent of the cost UNLESS you have done a majority of the work yourself and done it professionally.

Perhaps just a light refreshing that removes the most offensive elements of that icky room will have greater payback.  No one is saying here, don’t do that remodel.  I tell my clients all the time if you are planning on living here for some time and plan to enjoy these updates then by all means do them and enjoy them.  It is your home; your nest and you want to be happy there.  Just don’t be lulled into thinking that this will all pay you back if you ever need to sell.

Remodeling magazine just had an interesting article on the ROI or return of investment percentage on typical remodeling jobs.  Surprisingly (you would have never seen this coming), new garage doors have the best return and they are not 100% either. Go ahead and check out the link and plan your remodeling upgrades carefully.  You, of course, need to include your personal wants and desires as talked about above but never throw out the idea of resale. It can pop up when you least expect it!

Cost vs. Value: The Home Improvement Projects With the Highest ROI in 2018


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Fred Adams