Wondering whether to remodel your 1950’s bathroom or your 1970’s kitchen? What about finishing your basement and adding to your square footage? Well, all of these projects are high on home buyer’s lists, but let’s look a little deeper into just how these makeovers can pay off.
Top of the List
Kitchen and bathroom remodels top the list for added value in your home. When someone is looking to purchase a newly constructed home or an existing home, you can bet that the builder is splurging on the kitchens and bathrooms. Therefore the buyer for your home will be looking for those same indulgences as well. The following remodeling examples and values are for the metro Minneapolis area and are sourced from CostvsValue.com
- A midrange bathroom remodel will realize over 50% ROI. This includes updating all fixtures, vanity, sink, flooring, and lighting.
- The same valuation is attributed to a midrange major kitchen renovation. Features include a new floorplan with updated custom cabinets, all new energy efficient appliances, flooring, lighting, countertops, and sink.
- However, a minor kitchen update keeping the existing floor plan but adding new cabinet door fronts, energy efficient appliances, and countertop and flooring upgrades could provide you with a 73% return!
- For some extra outdoor living space, a wood deck addition may bring you up to 80% in return. And since we live in a part of the country with extraordinary scenery, the payoff here is more than just monetary.
- Is your home looking for an exterior pick-me up? Replacing some of your siding with a stone veneer is an attractive and trending update. And with a potential 91% return, how can you go wrong?
- Something as simple as replacing your tired front door can see an uptick in value of 93% and replacing old inefficient windows can provide you with a 70% return on your investment, plus lower energy costs.
If you’re thinking about adding some much needed square footage to your home, you can finish your basement or convert your attic into a bedroom or playroom. Add a grand master bath (or entire master suite), family room, or a relaxing sun room. All of these bring value and every additional 1000 square feet added to a home can increase the sale price by more than 30%, according to the National Association of Realtors.
There is a lot to think about and plan for when considering the options for home improvement and remodeling. Country Creek Builders can help you with all the details that go into these important and valuable projects. Call us at 952-484-9812 or visit our website.