Where to Invest Your Money When Improving Your Home?

Published on: Aug 05 2013

Recent statistics revealed that the money you spend on significant bathroom or kitchen renovation will seldom be recovered. On the other hand, money spent on such basic maintenance as new siding will be regained nearly 93%. There are other home modernizations that will return probably more are smaller kitchen remodel, with a return of nearly 93%. Window and roof replacements will regain at least 80%.

New homeowners are convinced that their brand new house needs no repair at all, not even minor basic ones. However, maintenance items can quickly consume your budget.

Kitchen and bathroom remodeling

Stretching your budget
Source : Flickr Photo

Nice bathrooms and the kitchen remain crucial and can represent a viable and lucrative investment to your home. Actually, potential buyers are checking mostly these two rooms of the house.

If you are planning to spend some money in improving your house make sure you pay attention to some important details. Think about which is the best place to invest your money and how much you will be able to recoup on the investment. Obviously, if your home worth about $200,000 it has no sense spending $50,000 on modernizing the kitchen, as those money are unlikely to be ever recouped.

In very good markets, kitchen or bathroom modernization is an excellent investment, as you can recoup 100% of even more of the initial cost. Baths and kitchen are definitely the places where the investment is extremely visible. When it comes to remodeling, these two places are the most expensive ones. Additionally, we do spend a great deal of time in these places.

Maintenance items

Include a Sprinkle of Color
Source : Flickr Photo

In terms of resale, these are vital aspects, because if you have bad sidings and curling roof, it might be almost impossible to sell your house. When the buyer knows that he will be forced to replace or repair the siding or roof, will not be really impressed by the remodeled bathroom and kitchen. The number one priority of any homeowner should be the proper maintenance of the current structure. Money should be first spent on the really important maintenance items rather than on bathroom and kitchen remodel.

It is preferable to have a brand new roof and an outdated bathroom and kitchen. Buyers generally have a fixed budget for purchasing a house. If they don’t have to spend money on maintenance items, they will probably buy the house and take care of the remodeling of the bathrooms and kitchen later on.

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