Despite how much you may want to remodel your kitchen, can you be certain that you’re going to get enough money back from your investment when you finally sell your house in the future? The Cost Value Report from Remodeling Magazine is seeking to answer some of the concerns that homeowners have towards handling remodeling projects that may or may not be able to maintain their value as the years progress towards that eventual resale of your home. The recent report shares how much certain home improvements cost in Arizona and what percentage of that amount would be available for recoup at the point of resale.
Generally speaking, if you are remodeling your home because you love living there and you want to make the most out of the space that you have been given, then you should just go ahead and proceed with the project. Everyone remodels their home for different reasons and not everyone is remodeling because they want to increase the value of their home at resale. If you’re not concerned about increasing the value of your home, if you plan on living there for an extended period of time, or if you’re not concerned about getting money back from this investment, then you can proceed with a remodeling project without much concern regarding the issue.
However, if you’re seeking to get the most money out of your investment into your home, then it’s important to consider the type of improvements you’re seeking to make during your remodeling project. Some home improvements provide more recoup than others when the point of resale has arrived. Bathroom and kitchen remodels tend to be the most expensive, but most of them are able to recoup the majority of their cost at the resale point. Of course, you won’t earn back all of the money that you put into the remodeling, but you will get back a reasonable amount of it in the end.
When you’re dealing with changes to the exterior of your home, think about curb appeal. This will provide you with more of a monetary return without having to make a huge investment into the project. Consider replacing a front door or a few windows in order to improve your curb appeal without having to spend a lot of money in the long run. Another point to keep in mind is that the estimates provided in the report are all based on prices in Phoenix, Arizona -- so the results that you may receive may vary depending on your location.
Beyond these points, always ensure that the remodeling that you are doing on your home is meeting the code and permit requirements. This will ensure that there are no issues or concerns about the work when you decide to put your home up for sale in the future. As long as you keep these points in mind, you should have no issue with getting a great return from your investment into your home.