The Value and Return on Investment of a Home Remodel
Your home is a worthy investment – whether you are making plans to sell or looking to invest in your living space to make your house your home – a remodel can be the best way to increase the value of your slice of paradise.
How much you can typically recoup on a renovation has a lot to do with how much you spend and what kind of renovations you choose. For example, the national average ROI for a major upscale kitchen remodel is almost 54%. That means you recoup about $68,000 after spending around $126,000. These numbers fluctuate depending on location – in a desirable community such as Grayhawk, these numbers only increase.
Make Your Remodel Work for You
If you are planning to sell your house in two months, it may not be smart to put $60,000 into a new kitchen if your real estate agent only thinks you’ll recoup $40,000. That’s $20,000 down the drain! In that case, it makes more sense to do a few smart renovations that may only cost $5,000. The right updates can give your home value a boost before hitting the market—and help you attract as many buyers as possible!
You may also plan to enjoy the kitchen yourself. Having a kitchen that you love can impact your day-to-day life in positive ways. According to a study done by Houzz, of those who remodeled in 2017, 33% said they have a healthier lifestyle after renovating their kitchen. Nearly 50% said they have more family time, and 41% said they cook more at home. It’s hard to deny those benefits!
Your Home Remodeling Team
If you’re ready to transform your home, ArDan Construction can help. There’s nothing to lose and everything to gain when you employ our home remodeling team. Get in touch with us to discuss your project.