Often times homeowners are torn between remodeling their home and moving. Is renovating a cost-effective option? Will the renovations be worth their value if/when it comes time to sell?
Given the recent matters facing our country, many homeowners have made the decision to stay put and update their home. To help you gain a better understanding of your potential home remodel payback, we’re sharing some helping insights into which home improvements will see the greatest return.
Remodeling Magazine surveyed real estate professionals to see what renovations pay back the most to home owners. Here is a breakdown of the most popular remodel projects with their payback percentages:
- Manufactured Stone Veneer 97.1%
- Steel Entry Door Replacement 91.3%
- Wood Deck Addition 92.8%
- Minor Kitchen Remodel 81.1%
- Siding Replacement 76.7%
- Universal Design Bathroom 70.6%
- Bathroom Remodel 70.1%
- Roof Replacement 68.4%
- Composite Deck Addition 63.6%
- Bathroom Addition 59.9%
- Major Kitchen Remodel 59.0%
- Master Suite Addition 56.6%
- Backyard Patio 47.6%
Based on these results, improvements that affect the overall curb appeal and exterior of the home are seeing the biggest returns. While a minor kitchen remodel saw a high payback, overall,interior renovations see the least gains.
While you’re planning your home renovation, we hope you’ll keep these facts in mind, especially if you do plan to sell in the future.
At Rossi Construction, we specialize in all phases of residential renovations and remodels. No matter how big or small your project may be, we work within your budget to create the home of your dreams!
Want to learn more? Contact our team today to schedule your complimentary home estimate. Call 813.436.0177to get started!