Remodeling Cost ROI is a subject we are asked about often.
Most homeowners will have to decide at some point whether the cost of remodeling makes sense, especially for resale.
Most upgrades to your home are likely worth the investment for your personal pleasure if you plan to stay in the home for an extended period of time.
As you will not recuperate your investment right away. You can typically expect 80% to 90% back on your home improvement investment dollar, within the first two years.
With a well done remodel, you can increase your homes value and even make money the longer you stay in the home.
By being in the home a longer period of time, you give the real estate market time to increase and you leverage Remodeling Cost ROI as property values grow.
You may want to consider these things when deciding if a home improvement project is a good investment or not:
- How long you plan to be in the home
- How strong the resale market is in your area
- How your project impacts your homes appraised value
Here are a few examples of Remodeling Cost ROI for projects in Colorado.
Major Kitchen Remodel – 63%
Minor Kitchen Remodel – 78%
Bathroom Remodel – 66.1%
Two-Story Addition – 77%
Family Room Addition– 69%
Want to learn more? Here are a few great sites we recommend:
2021 Cost vs Value
This site compares the average cost for 35 popular remodeling projects with the value those projects retain at resale in 101 U.S. cities. Check out this year’s trends and how they compare to prior years. Note: This report has not been updated for 2022, but you can expect prices to have increased 15-25% due to labor and material increases.
Five Things to Consider When Remodeling
Unless you built your home yourself, chances are there are things that you want to change. Denver remodeling can seem like an intense thing to go through, but when approached in the right way, remodeling can be a fun and exciting change. Before jumping in and tearing down all those things you dislike, here are five things to consider.