The high cost of home renovation can be a tough pill to swallow, but the good news is, it’s worth it when done right. Beyond style and design, one of the most important questions facing consumers considering a Frisco residential remodel is: “Will I get my money back when I sell my house?” In other words, what is the cost vs. value of my remodeling investment?
Calculating ROI
Not all renovations are equal when it comes to ROI. That’s because buyers’ priorities are often different than your own present issues. For instance, you might be dying to give your living room a facelift, while potential buyers wish you’d renovated the bathroom instead. Of course it’s important to address your own needs. However, if you want to increase the overall value of your home, you’d be wise to pay close attention to the areas that give you the most bang for your buck.
Best Rooms to Renovate
Bathrooms and kitchens are among the first rooms buyers view critically when thinking about purchasing their new home. To ensure your home retains a high value, investing in these rooms ought to be a priority. My personal recommendation would be to renovate the home to satisfy your own personal needs and desires, however, be mindful of what the kitchen or bathroom space will look like in 5 to 10 years in order to be sure that the quality and design of the space will be marketable, as well as, valuable in the long run. Begin with a professional design build company, create an ideal design plan for the space, work closely with a trusted professional who can guide you through the selection process for quality products, and a quality craftsmanship will bring a higher return on your investment. Thankfully, according to Remodeling Magazine’s 2016 Cost vs. Value report for the Dallas, Plano, and Frisco area, a kitchen or bathroom renovation project is often a wise investment.
Realizing the Benefit
The ROI on upscale renovations is substantial. That means that by adding a new, upscale bathroom you can realize an average ROI of between 67 and 80 percent. A kitchen remodel will net you an average return between 63 and 90 percent return on your investment, if you work with the right trusted professional!
We know that taking on a Frisco residential remodel can feel like it’s draining your finances (and your sanity) as you sign check after check. But, with a little planning and foresight, you can rest assured that these expenses will pay off in the end.
