Whether or not you plan to put your house on the market, it’s always a good idea to know what kind of project is going to give you the best return on investment. After all, if you’re going to spend $15,000 redoing your home, you want to know your money is being well spent.
And if you do plan to sell your home, then you absolutely want to know that the money you spend on remodeling will come back to you in resale value.
With that in mind, these are the four projects that will give you the best bang for your buck when it comes to resale value.
Bathroom Remodeling – Remodeling the bathroom provides one of the best returns on investment when it comes to home remodeling projects. Experts say you can do a fairly complete remodel, including replacing the tub, toilet, tile, and other fixes, can run you about $10,000 (cheaper if you are skilled enough to do most of the work yourself). The return on investment when it comes to resale value is 100 percent. In other words, if you want to get the most for your remodeling dollar, the bathroom should be your first target.
Landscaping – The average cost for new landscaping on Lavallette real estate is about $3,500. The good news is that not only can a new landscaping project make your house look great, you will get a 100 percent return on your investment when it comes to resale value. That means it’s safe to indulge in a project like this. And in fact, it’s encouraged. Nice new landscaping will make your home more appealing to prospective buyers. Tips: use a free design service, and using flowers to add color to your home.
Kitchen Remodeling – One of the most useful remodeling projects you can do is a kitchen remodel. Provided you’re not redoing the floor plan or layout, you can expect a kitchen remodel to run you about $15,000 on average. The good news is, your return on investment will be close to 100 percent when it comes to resale value. That makes a kitchen remodel a great investment for anyone planning to sell their Lavallette real estate. Just be sure to watch your budget, because a major kitchen remodel can run between $30,000 and $40,000.
Exterior Home Improvements – This is a project that will not only give you a good return on your investment, but that will also improve the look of your home. New siding, paint, replaced awnings, and so on can update the look of your home and take years off the way it looks. Projects of this nature also have a return on investment of about 95 percent, making them a sound way to spend your money.
Other home improvement projects can offer a decent return on investment, between 80 and 95 percent, but the above four are the best values for your home remodeling dollar. If you have a piece of Lavallette real estate that you plan to put on the market, these are the four places you should look first when it comes to deciding where to invest your money.
