Before you dive into major home remodeling projects, it’s good to know how they will affect your resale value and whether you’ll get a return on your investment.
When homeowners remodel, it is usually to upgrade worn-out surfaces, finishes, and materials or because it is time for a change, to add features, or to improve livability.
Remodel return on investment
- The typical cost of 19 remodeling and replacement projects, as estimated by members of the National Association of the Remodeling Industry (NARI)
- How much appeal each project is likely to have for buyers, according to REALTORS®
- How much does REALTORS® estimate that homeowners can recover on the cost of the projects if they sell the home?
- Thirty-five percent of homeowners would instead move than remodel their current home.
- The success of taking on projects and the increased happiness in the home once a project is completed.
Thirty-two percent of owners report the single most important result from remodeling is better functionality and livability, 21 percent report durable and long-lasting results, materials, and appliances, and 16 percent report beauty and aesthetics.
Thirty-six percent of the owners did the project themselves, 35 percent hired a professional for all of the job, 14 percent hired the labor but purchased the materials, and 12 percent contributed some do-it-yourself (DIY) labor.
Appeal to buyers:
- Complete Kitchen Renovation
- Kitchen Upgrade
- HVAC Replacement
- New Wood Flooring
- Bathroom Renovation
- Hardwood Flooring Refinish
- New Master Suite / Owners’ Suite
- Add New Bathroom
- Basement Conversion to Living Area
- Attic Conversion to Living Area
- Insulation Upgrade
- Closet Renovation
My Quick Bathroom Update
I love a project! I’m constantly looking for ways to update my home without breaking the bank, and recently, I decided it was time to tackle a bathroom update. A complete renovation would cost about $25,000, but if your budget is only $3,000, you can still make it worth the investment.
Paint is Number One
Paint always gives the highest impact for the least amount of money. Goodbye wallpaper and dark baseboards. Paint and
retexture the walls and spruce up the baseboards. Always use the best paint you can find. I prefer the Sherwin-Williams stain blocker followed by a pro-grade flat finish. The vanity cabinets were in excellent condition, so I painted them with an eggshell finish and added new hardware.
Complete Bathroom Remodel or Not, Please Replace the Hardware
Don’t overlook the simple change that can erase decades—for a few hundred dollars, you can replace the hardware. And please do it! Towel bars, too!
LED’s all the Way
The light fixtures made a big difference—LED with clear globes. I Replaced the bathroom exhaust fan/fixture. The main event is the quartz countertop. I wanted a little more height for the vanity, so I selected semi-recessed sinks (3 1/2″ above the surface) and single-lever faucets. I prefer the full-view bathroom mirrors instead of the more stylish individual mirrors (although I used one on the wall to check myself head to toe). They reflect more light and improve visuals.
I am confident that I will more than recover the cost of this update when it’s time to sell. Meanwhile, I enjoy living in the space.
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