ROI for Kitchen and Bathroom Remodeling
If you’re considering remodeling your kitchen or bathrooms simply to sell your home, you may be disappointed to learn that neither offer 100% return on investment (ROI). In fact, according to the 2020 Remodeling Cost Vs. Value report (www.costvsvalue.com), the average for all kitchen and bath remodeling projects in the Tampa area is just under 65%. However, both kitchen and bathroom remodeling have other advantages.
Enjoy the Spaces You Use Daily
As a homeowner, two spaces you use every day are your kitchen and bathroom. If you plan on being in your home for any amount of time, you should want to enjoy those spaces. Remodeling is one way to make both work better for you. Simple bathroom remodeling doesn’t have to include reconfiguring the space and can be quite affordable. For example, an average size bathroom about 35 square feet where you replace all fixtures, cabinets and countertop as well as lighting and flooring averages about $20,000.
When you are ready to sell your home, assuming the space is still current as far as style and well maintained, you can expect to recoup about 64% of your investment. In the meantime, you may benefit from reduced water bills with low-flow toilet and faucets and showerhead and, of course, more enjoyment from the space.
It’s All About the Kitchen
Your Realtor may tell you that one of the major considerations home buyers have is the kitchen. That means a home with a dated kitchen and a comparable home with an updated one will take longer to sell and sell for less. That may not be the best reason to undertake a kitchen remodel. However, a minor midrange kitchen remodel will recoup about 84% of your $22,000 investment so it may be a consideration for you, especially if you plan to be in the home a few years before you sell.
Total Home Remodeling
If you’re considering buying a home as an investment to rent or to remodel and sell, you may want to work with a remodeling company on a total remodel. Whatever your needs, bathroom remodeling of all your bathrooms or just one, a major kitchen overhaul or a total home remodel, Build America LLC can help. Whether you’re remodeling to sell or want a more up to date kitchen or bathroom while you live in the home, our experienced designers can help you choose each element while staying in your budget. Call us today at (727) 776-9023 for your no obligation estimate.