ROI and Your Bathroom or Kitchen Reno
Q: What return on investment can I expect from a kitchen or bathroom renovation?
A: Of all the spaces in your home, choosing to improve your kitchen or bath will make the most difference and add the most value to the overall feel of your dwelling. Here are a few considerations we suggest before diving in.
1. The Kitchen Always Counts: It’s not news to you that people spend the most money in the kitchen when they renovate. It’s the hub where family, friends and guests congregate and it’s going to be the place where you’ll see your highest return on investment. For example, consider what House Logic reports about ROI on kitchens:
“Kitchen remodels in the $50,000 to $60,000 range recoup about 74% of the initial project cost at the home’s resale, according to recent data from Remodeling Magazine’s Cost vs. Value Report.”
What’s even more interesting is that according to the same source:
“A minor kitchen remodel of about $19,000 does even better, returning more than 82% of your investment!”
Some of the best ways to address kitchen renovation needs include having a new floor installed, new cabinets and new countertops.
2. Create a “Cool” Bathroom: Experts say that after the kitchen, your bathroom renovation is the most popular choice. What are some of the most popular renovations that homeowners are turning to?
According to Cool Spaces: Tips for Kitchen and Bathroom Remodeling from the Detroit Free Press, the top trends include:
Adding radiant in-floor heating for a spa feel
Purchasing a full-glass door shower instead of a tub
Replacing standard with dual-flush toilets for their water-saving features
Creating open bathrooms that allow more natural light in and provide a view of nature from the tub or sink
Adding cabinets that give the furniture feel
Are you still stuck when it comes to getting started on your renovation? Let us know how we can help! Contact ACo today!