Is It Worth The Money To Remodel My Home?

Dated: January 28 2023

Views: 118

Everyone wonders,  "Is it worth the money to remodel my home?" Overall, the answer is, "Probably - if you approach it wisely and with realistic expectations." Many homeowners expect to fully recover the amount of their investment when it comes time to sell their home. However, the potential return on the investment will depend on the value of the home and the current local real estate market conditions. Here are some ideas to consider in getting those renovation dollars back at resale.

Home maintenance and repair projects:   Do these first. If needed, replace or upgrade roofing, exterior paint, the furnance, and electrical amperahe capacity (200 amp is best). An independent home inspector will be looking at your home's condition if you decide to sell.

Focus on curb appeal:   This typically runs lower in cost and creates emotional appeal as well as a high ROI when selling. The positive impact of a freshly edged, lush green lawn is significant. A pop of colorful annuals and ground cover around trees draws attention from the road. A freshly painted front door is inviting, and clean windows are a must.

Neighborhood norm projects:   It may be wise to make improvements to bring your home up to the expected neighborhood standards. However, avoid adding unnecessary features above the other homes on your street. This may impress buyers but investingadditional money may not make your home worth more than the home's market value.

Window replacement projects:  If your windows are beaten up or broken, consider replacing them. They can make the home look more attractive wile increasing its energy effciency. Go for common styles such as double-hung, sliders, fixed, and casement windows. Any fancy ones like hexagons, circles, bays, and bows will cost more.

Kitchen and bathroom projects: These two areas are relatively inexpensive to upgrade but will have a better impact at resale. There are countless affordable kitchen and bath choices, colors, sizes, materials, and patterns. Replace corroded or mismatched bath faucets, showerheads, and bath hardware. For the kitchen, replacing the existing cabinet hardware, installing a backsplash, and adding new light fixtures are some of the things that can change the entire look of your kitchen for little money.

Keep in mind that almost any project can have the potential to negatively affect the resale value, especially if they're made to suit your particular lifestyle or taste or poor workmenship.

Blog author image

Georgieann Elliott

Georgieann Elliott | EXIT Realty President’s Circle Award Recipient Northern Utah’s Project-Managed Listing SpecialistExperience That Matters. Tenacity That Wins. Georgieann Elliott is not....

Latest Blog Posts

"Is 2026 your year for a new view? Let’s talk about the 'Winter Advantage' in Northern Utah. Click here to see your home's current winter value! 🏔️✨"

All good things need planning... and that includes a winter move! ☕🏔️I often hear people say, "I think I'll just wait until the flowers start blooming to look at houses." While Spring is

Read More

Which Countries have the Highest Homeownership rates?

Which Countries have the Highest Homeownership rates?Romania - 96%Romania tops the list with the highest homeownership rate globally, with over 96% of households owning their home. This results

Read More

Thanksgiving quotes about having gratitude...

Thanksgiving quotes about gratitude(Teaching the granddaughters how to make Pumpkin Pie!!!)It is not hard to Fall in Love with Fall with Thanksgiving being a holiday with a little

Read More

Generations Seeking Micro-Living

Both millennials and baby boomers are looking for scaled down micro-living units, similar to well-appointed motor homes. But there are no chemical toilets here! Micro-living units are as small as

Read More