It is also worth noting that the ROI 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, withAlabama, Kentucky,Mississippi, andTennessee also showing strong returns according to the 2015 Cost vs. Value report from Remodeling magazine. REMODELING Much can be gained fromwork on the inside of the home as well. One chief benefit of redoing a room or two inside the home is that it will increase your own enjoyment of your home. Another benefit is that if you are selling, it is 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 andworse ways to spend your money. And, 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% Be warned 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 are willing to spend and what is in demand in your market to maximize the return on such a large investment. ADDITIONS Another considerationwhen looking to add value to your home, as well as make itmore functional for yourself, is to add entirely new rooms. Clearly, this is a large step with an even larger investment involved in nearly every possible case. • Bathroom: 62% • Basement: 63%
6
Powered by FlippingBook