I enter someone else's home practically on a daily basis. Scary stuff, right? What's really scary are some of the things I see in older homes. The worst seems to be homes 15 years and older that have never been touched. It's not so much that things are worn out, many times they're not, depending on how hard the home has been lived in. But what does change is style! The home building industry is much like the auto industry. Builders are constantly searching out new styles, products, colours etc. so you can be sure that what's in style when you bought your home, will one day be "dated"...if you stay long enough...like me!
Here is the 1st of the 3 rooms that rise to the top of the Return On Investment (ROI) list:
KITCHEN - Average ROI = 83% (minor remodel), 78.1% (major remodel)
A major kitchen remodel, depending on size, could run upward of $100,000 and on average get a return of approximately 78%. You're talking about custom cabinetry, expensive surfaces, high end and built in appliances, designer services, flooring, lighting etc. A minor "facelift" averages a simiilar ROI but costs far less. The more modest project might entail cabinet refinishing, replacement of countertops and flooring and perhaps installing new appliances that are inexpensive but improve the room's appearance.
You knew I was going to list the Kitchen first. When I walk into a re-sale home and see a shiny, modern kitchen...I know that home is sold!
Make it a great day!