The Best (and Worst) Bang For Your Remodeling Buck
Whether you’re considering making upgrades before you put your home on the market or simply looking to add to the overall value of your home, figuring out which remodeling projects will give you the best bang for your buck can be tricky. Should you replace your front door? Do a minor kitchen remodel? Or do something larger such as adding in another bathroom?
If you’re unsure of which project to tackle, Remodeling magazine’s “Cost vs. Value Report” for 2017 may be helpful. The report—which is compiled from surveys and real estate sales statistics—lists several mid-range and upscale renovation projects and the average percentage of costs recouped for each project once a home is sold.
Of the 29 projects, here are the five best in terms of recouping costs:
And here are the five worst in terms of recouping costs:
It’s interesting to note that four out of the five best projects cost $7,851 or less and four out of the five worst projects cost $39,339 or more.
Keep in mind that the value of individual remodeling projects can vary in different areas and in different neighborhoods and are often house-specific. Also, make sure to discuss your options with your real estate agent before beginning any projects. They can help you work through all of the variables that come in to play when deciding on which project is best for your home.
If you’re interested in seeing the full “Cost vs. Value Report” for 2017, which includes a breakdown by different regions of the country and a comparison between 2017 and 2016, visit www.remodeling.hw.net.
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