| One of the best things you can do as a homeowner is | | | | Average ROI = 71% |
| to use some of your home equity dollars to finance | | | | The major kitchen remodel is very costly and will take |
| home improvements. Not only will the additions make | | | | much more work than the minor remodel. The major |
| your home more attractive and pleasant to live in, but | | | | version will require all appliances to be replaced. |
| certain projects will bring a significant return on | | | | Whenever possible, appliances should be made in |
| investment when the time comes to sell your home. | | | | stainless steel. The countertops should be made of |
| The following 5 projects have been proven to add | | | | stone or granite. The floors might be replaced with high |
| extra dollars to the average home resell prices. The | | | | quality laminate flooring. The addition of a kitchen island |
| statistics are courtesy of “Remodeling | | | | or a centrally located stove could work. For a major |
| Magazine.” ROI stands for “return on | | | | kitchen remodel, you should consult a contractor and |
| investment” | | | | possible an interior designer. This is definitely not a do it |
| 1. Minor Kitchen Remodeling: Average cost = $8,655. | | | | yourself project. |
| Average ROI = 88%. | | | | 4. Outside Deck: Average cost = $8,022. Average ROI |
| A minor kitchen remodel usually includes replacing the | | | | = 55% |
| cabinets and countertops with higher quality materials | | | | The deck is self-explanatory. The larger the deck, the |
| or increasing the total amount of cabinet storage and | | | | higher the return on investment will be. The deck |
| countertop surface area. It would also most likely | | | | should obviously be coated with a nice looking finish |
| include the addition or upgrade of appliances such as | | | | that matches the outside of your home, and needs to |
| garbage disposals, built in microwaves, dishwashers, | | | | be treated with a high quality water seal. |
| and higher quality refrigerators. | | | | 5. Hardwood Flooring: Average cost = Varies. |
| 2. Bathroom Remodel: Average cost = $9,135. | | | | Average ROI = Varies |
| Average ROI = 81% | | | | The cost and return on hardwood flooring varies |
| This project would include things such as installing | | | | greatly based upon the total amount of rooms and |
| attractive countertops such as stone, granite, or | | | | surface area is remodeled. Also, the choice in the |
| marble. The fixtures would need to be upgraded and | | | | variety of hardwood will impact the value. Certain |
| the shower and bathtubs should be resurfaced. Also, | | | | woods like Oak and Cherry are more valuable than |
| any tiling would need to be grouted. Other things that | | | | others. Also, it is very important to properly maintain |
| could increase the value of a bathroom remodel would | | | | your hardwood floors. Flooring that is scraped, |
| be adding an extra sink basin, converting a bathtub to | | | | scratched, dull, or water stained can actually decrease |
| a Jacuzzi, or installing additional showerheads. | | | | the value of your home. If you have active children, |
| 3. Major Kitchen Remodel: Average cost = 31,090. | | | | you might want to stick to carpeting. |