We are at it again. I’ve got the home improvement bug! I am thrilled with our latest adventure; we are getting a new sprinkler system installed this week. We bought our home about 12 years ago and as any home owner knows there is always something that needs to be done. We keep up with the day to day things and have a master list of the big projects and we try to tackle about one project per year.
Checking in on this year’s data from the National Association of REALTORS most home improvements have a nice return on your investment when you decide to sell. The desirability of different remodeling projects varies by region and metropolitan area. In the West, window replacements are highly valued, perhaps due in part to insulation and cooling concerns in desert regions, with nearly 103 percent of costs recouped on sale. Westerners also prefer remodeled kitchens and basements; in this region, for example, a minor midrange kitchen remodel may return 112.3 percent, and a basement remodel is estimated to return 108 percent.
Here are some numbers on the national average according to the National Association of REALTORS:
Midrange bathroom remodels can expect to make money; 102.2 percent,
Major midrange kitchen remodels return 91 percent of the costs to remodel
Add an attic bedroom and get a 93.5 percent return of the cost.
Master suites, however, do not fare as well; an upscale addition, approximately 80.1 percent of the remodeling expense.
That’s encouraging, because I am a home improvement addict. I look forward to doing the next one on our list real soon!