With respect to ROI in general, it’s worth noting that the numbers will vary, depending on what market you are in. The Pacific Northwest (including Alaska and Hawaii) tends to show the best return on home remodeling and home improvement projects, with Alabama, Kentucky, Mississippi, and Tennessee also showing strong returns, according to the 2015 Cost vs. Value report from Remodeling magazine.
Remodeling
It’s important to carry that good impression from the exterior through to the interior with further improvements. As with all other aspects of home improvement, there are better and worse ways to spend your money. As the adage goes, kitchens sell houses. Citing Remodeling magazine, kitchen remodels average a return of 79.3% nationwide, making it the best investment for a total remodeling project.
Other good remodel projects to consider include: • Outdoor Kitchens: 43% • Bathroom: 62%
I’ll warn you now that these projects can prove costly, with the national average cost for jobs on this scale running in the tens of thousands of dollars. Be sure to carefully consider just how much you’re willing to spend, and what’s in demand in your market to maximize the return on such a large investment.
Important Points to Keep in Mind
When you’re fixing up your fixer-upper, it’s important to take into consideration that buyers might not have the same taste or style as you — and even if they do, they only see the finished product and will have little understanding of, or interest in, what went into creating it. That brings out the need for a slightly deeper 63
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