Susan Ormont - RISK VERSUS REWARD: A SIMPLE GUIDE FOR INVESTING IN REAL ESTATE

architectural shingles with a transferable warranty, might be highly attractive to the right buyer. 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:

• Attic bedroom: 53% • Bathroom: 62% • Basement: 63%

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 consider carefully 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. In the Boston Metro area, these additions are considered positive in adding value to your investment. The more space one can create in any unit, the better, especially after Covid-19.

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