In the housing markets that are the hottest, opting for a kitchen and/ or bathroom remodel is an investment which can frequently return over 100 percent of the original cost. According to a study conducted in 2004 by Remodeling Magazine, in Baltimore, a bathroom remodel that cost $9,400 managed to recoup 182 percent of the cost at resale.
However, it’s not merely in Baltimore that you see this occurring. Florida, Washington D.C., Chicago, San Francisco, and Minneapolis also can provide for triple-digit returns on a remodeled bathroom.
Relatively minor kitchen remodels with an average cost of just over $15,000 also witnessed excellent returns of over 100 percent in the same areas.
Kitchens and bathrooms are the most expensive areas within a home in terms of construction. Further, that’s where people invest most of their time, other than the bedroom.
Planning a Kitchen and Bathroom Remodel
There are a variety of considerations that must be kept in mind when planning to remodel a kitchen and/ orbathroom.
Think along the lines of traditional. Commercial-looking appliances, wood cabinets, stone countertops, stone or natural wood floors.
Whirlpool tubs have been replaced by large, walk-in showers since most people lack the time for a bath. Floor-to-ceiling steam showers are also very popular.
However, something to keep in mind: don’t bother to invest the money in remodeling the bathroom if you’ve only a single bathroom. That same money is better spent on adding an extra bathroom.
A study conducted by Florida State University professors noted that by adding a second bathroom it increased a home’s sale price by 8.7 percent, which equates to over twice that when adding an extra bedroom.
All the same, a new kitchen and a new bathroom will lose most of the glamour if the basement is structurally unsound. After all, it’s every homeowner’s priority to know that they are investing in a structurally sound home.
It’s much more important to resolve any problems in the basement first, prior to splashing out on luxuries in the remainder of the home.
The same thing can be said about a roof. If it’s not in tip-top condition, a potential buyer will likely notice and will walk away from the sale, irrespective your bathroom and kitchen are spick-and-span. And that’s when a company such as Cockeysville roofing come into play.
The majority of buyers are limited in the amount they can invest in a house. If they realize they don’t have to lay down money on the upkeep of the most basic items, they are more likely to snap up the house.