Remodel Your Kitchen or Bathroom
for the Best ROI
Kitchen and Bathroom Remodeling maximize your Return on Investment
By Gregg Hicks
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Trying to decide which home improvement project to tackle next? To start you
must decide if you are remodeling to improve an area of your home that is in
need of some TLC or if you are remodeling to maximize your Return On Investment
(ROI). If a specific area in your home needs TLC then your decision is straight
forward.
However, if all areas of your home are in decent shape and you are looking
to maximize your investment in your home then your decision is a little
easier. |
To get the greatest return on your money, without adding additional square
footage to your home, you should consider remodeling your kitchen. On average a
Kitchen Remodel will yield an ROI of 80-100%! This is an amazing rate of return
on any investment, but the added bonus is that as a homeowner you get to enjoy
the benefits of your Kitchen Remodel until you sell your home.
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Another room to consider remodeling to maximize your return on investment is
your bathroom. As a side note, if you live in a home with more than two bedrooms
and only one bathroom you might want to find a way to add an additional full or
half bath somewhere in your home. This will dramatically increase the resale of
your home. If that is not an option or you already have enough bathrooms for
your home consider remodeling your current bathroom. On average bathroom
remodels yield an ROI of 80-90%. |
One of the main reasons both the Kitchen and Bathroom have such a high rate
of return is that most buying decisions (including home buying) are based on
emotion. When homebuyers walk into a home that has a run down kitchen or
bathroom all they think of is the time, money, and headaches they will need to
invest to get the room up to their standards. On the flip side when homebuyers
walk into a home that has a fresh updated kitchen it can get them very excited.
They know they won’t have to lift a finger in this room to improve it, thus they
can afford to spend a little more on the purchase price of the home knowing that
the kitchen is already in great shape. The same principle applies to the
bathroom.
You might ask yourself why all projects don’t adhere to this same principle.
The answer is even though it is a sound investment to replace you roof, siding,
or windows the reality is all homebuyers assume that these will be present and
in decent condition. There is limited emotional value in having a new roof so
homebuyers don’t get too excited about it either way. The return on investment
for these projects ranges from 40-50%.
So if you want to increase the resale value of your home consider remodeling
your kitchen or bathroom. After all, you may live in your home but don’t forget,
if you are like most homeowners, your home is also your largest investment. Be a
savvy homeowner and treat your home as an investment.
About the Author
This article was written by Gregg Hicks of
http://www.reliableremodeler.com which provides Internet-based
home improvement information and services.
Offering homeowners a simple, quick, and free way to access, qualified home
improvement remodeling contractors.
For more
help on remodeling your kitchen, see HomeAdditionPlus.com’s
Kitchen
Remodeling Bid Sheet.
The
Kitchen Remodeling Bid Sheet
will help ensure that your kitchen remodeling project goes smoothly and you get
the finished kitchen you are
looking for. In addition, it will help to ensure that your remodeled kitchen will be accomplished on time and on budget.
How to Finance your Kitchen Remodeling Project -
can help provide funds for your new home improvement project if financing is
required.
Building the kitchen of your dreams
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In just seconds, we’ll search our pre-screened network to find a
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Related information on Kitchen Remodeling
Additional Kitchen Design Resources
Kitchen Faucets and Appliances from Amazon.com
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