What is the Cost vs Value for Remodeling My Home?

What is the Cost vs Value for Remodeling My Home? Should I take the time and spend the money to remodel my house? These are questions that many people ponder as they decide whether or not to stay where they are at, or if they should make a move. Whenever you are looking at doing a remodel, it is important to look at the cost vs value? Remodeling your home can definitely add value, yet not all remodel projects will yield a good return on your investment. According to the Remodeling 2018 Cost vs. Value Report (www.costvsvalue.com), there are several home improvement projects that are worth your time and money based on the overall return on investment at resale.

Window ReplacementWindow replacement is also an excellent investment, especially in Arizona where energy efficiency is a big deal to home buyers. The cost to replace an entire house full of windows is not cheap and can range anywhere from $10,000-$12,000 on average, but the value added will be worth it! Brand new windows will be appealing to many home buyers, especially in Arizona where energy efficiency is of major importance.

When considering what is the cost vs value for remodeling my home, you might also consider updating your front door and replacing it with an iron or steel entry door. Not only will this remodel add some serious curb appeal, but it will also offer extra home security and if you happen to select an iron door with screens, it will also allow for fresh air to flow through the home. This project will not cost as much as some others, however, the cost vs value is around 82% which is a great return on your money. You will be able to enjoy the entry door while living in the home and if you should decide to sell, then home buyers will be drawn to the inviting front door.

Bathroom renovations also come close to the top of the list for projects worth considering. This project will be more expensive, with the average cost of a remodel running close to $15,000, however bathrooms and kitchens often sell homes, so the money will not be wasted. The return on investment is in excess of 63% for this project.

If your kitchen is outdated, then you might also consider a minor kitchen remodel which may include updating countertops, re-finishing or re-facing cabinets and possibly adding a gorgeous backsplash. This is also a higher cost item and can run anywhere from $15K-$20K depending on selections, however, the return value is high at 79% and an updated kitchen can certainly help you sell your home quickly and for top dollar.

I would be happy to answer any questions you may have regarding renovations. If you are thinking about selling your home, you may not have the time or money to invest on an extensive remodel, but sometimes a simple coat of paint or new carpet can make a huge difference! A home that is clean and sparkles, will be attractive to home buyers because it will give the impression that the home has been well cared for. Let me help you make a decision on whether or not to sell or renovate and stay put! You might be surprised to see what your home is worth and what your money can buy. Looking for a FREE market analysis of your home’s current value? Contact me today!

I am an experienced, local real estate specialist serving the entire East Valley of Phoenix, Arizona. It would be my honor to assist you on your real estate journey and help you to navigate the process of buying and selling Arizona Real Estate. From start to finish, I will be there to guide you and answer your questions with no pressure, only support!

Keely Semon, Realtor®
East Valley Real Estate Specialist
United Brokers Group
480.220.1321

 

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