Remodeling–Which Projects Pay Off?

By: Allison Millar, Contributing Writer
In: Necessary home improvements, Repair your home's value
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That’s right. We all want something back for our remodeling investment. We put in the sweat equity…or the hours of working with the contractor…and we want a return. What’s the payback these days when doing a bathroom or kitchen remodeling? Will a basement remodeling pay off anytime soon?

Will Kitchen Remodeling Boost Your Housing Investment?

Years ago, you could always count on bathroom and kitchen remodeling as big boosts to your housing investment. Today, those rooms still carry lots of weight, but your payback takes a little longer! Just read the Money Pit site for the skinny on bathrooms. Or, ask your contractor for local advice.

Kitchen Remodeling–Go or Wait?

Kitchen remodeling still holds a coveted spot in people’s hearts because it affects the core of the home. Add new cabinets, countertop, and sink and the whole space changes shape. According to Remodeling Magazine, a minor kitchen remodel can bring you a 79.5 percent payback, similar to a bathroom remodeling.

The message here is go for a minor update and keep it tasteful and interesting to the masses. If you have to sell in a few years, you’ll be fine.

Remodeling for Profit?

The news you should pull out of this is that the days of sprucing up the house and selling it for a big profit are gone. You should focus instead on doing smart renovations (kitchens and baths always count!) that you can enjoy and that are not wild enough to turn off prospective buyers down the road.

Avoid paint colors that are too bold, countertops that are too individualized, and flooring that does not flow!

Among the other options are:

  • Adding a second bathroom to a house with just one (or one and one-half). Having that extra bathroom space is always a big draw for home buyers. Luxury Housing Trends has the scoop.
  • Adding an island–to enhance the food prep and the social scene.

Weigh your options and make some well thought out remodeling choices.

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