With the real estate market still in a slump, more and more people have decided not to sell their home. Many people have decided to stay in their current home until the market shows signs of improvement. While you’re waiting on the market to get better, we have some suggestions on how to increase your home’s value.
We all know that remodeling a room in your home can make it more visually appealing. But did you know that by remodeling certain parts of your home you can actually increase the price of your home? It’s true. According to Remodeling Magazines 2013 Cost vs. Value Report, you can get up to 82% of the cost of a Major Kitchen Remodel back when you sell your home. This will also add to the total value of your home.
One of the easiest things to remodel in your home that will also add value is a bathroom remodel. Sometimes it's going to take more than just a can of paint to fix up your old bathroom. Maybe it's time to consider a more substantial remodel. A clean and freshly remodeled bathroom would definitely be attractive to potential buyers. A midrange bathroom remodel will cost on average about $16,552. You can get around 62% of those costs back after you’ve sold your home.
A newly remodeled kitchen is a value-added enhancement to the entire home. A kitchen is the focal point of many gatherings in your home. A minor kitchen remodel averages a cost of $23,603, with a return of 84.1 %. An elegant, updated, and newly remodeled kitchen is sure to add comfort and value to your home. If you’re planning on waiting out the market slump, a new kitchen will definitely be a remodel you can take pride in.
Whether you’re considering selling your home at some point in the future and you realize remodeling will help make the sale or you just want to create a more cozy living space for right now, remodeling is a great investment. Get some clippings from your favorite magazine or website and start comparing contractor estimates. You might be pleasantly surprised at how easy remodeling can be.