Now is one of the best time to plan on that big home remodeling project next year. Preparation is key, right? So we here at Team Leading Edge have prepared some points that you can ponder upon in regards to home remodeling. The information contained herein may boost your ROI once you decide to sell your Edmonton home. Read on!
Starting off, you may have heard or read that kitchens and bathrooms are the center pieces in a home remodeling project, true, but they are not really the big ones that provide the highest return on investment one your property is sold.
Stay with me, studies also show that converting your spare bedroom into a home office could prove to be a fatal flaw once you sell your home. The average ROI for a remodeled home office is pegged at around 53%, this is down from 72% back in 2005.
On the other hand, backup generators provide one of the more satisfying ROI with 67.5% in 2013, up from 47.5% in 2011. The unpredictable weather could be one of the main contributors in this uptick.
We’ll go straight to the point, the ones that provide a consistent ROI are the ones that you should focus on. These are made up of four characteristics; low-maintenance, good — but not necessarily the highest — quality, energy-efficient and not too costly
The front rakes in the best ROI for your pocket. A new front door will provide you with one of the best returns, year over year. Historically, 97.2% is the ROI that a steel door replacement provides homeowners.
Worn out siding could be synonymous to a 10% loss in your Edmonton home’s value. You can avoid this by providing great maintenance and care. A clean and well-cared for siding provides the impression of mastery at home improvement.
Wood decks have proven to help boost ROI. These might be considered as luxury additions but this outdoor project have provided an average of 80.6% ROI. If you’re a numbers person, that’s a really good figure!
Decks are one great way of expanding the living space at a very low cost.
Speaking of additional living space, attic bedroom remodels is one smart way to increase the living quarters inside your house. This might come to a surprise but attic bedrooms have provided ROI’s of 79%!
LASTLY, LITTLE KITCHEN REMODEL
Little, yes, no need to throw in huge sums of money in the remodeling project. Minor kitchen remodeling have provided an average return of 82%. A 2014 Cost vs Value report determined that you would just have to spend $18,000 in remodeling. This sum would cover the labor, new appliances, flooring, countertops, cabinets and drawers.
With this knowledge, we hope you could now make informed decisions once you start remodeling. Good luck!
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