If you are thinking of selling your home and need to do a few updates first, The National Association of Realtors Remodeling Impact Report of 2017 offers data on the 12 interior projects worth doing that will result in the highest return on your remodeling dollars.
Complete kitchen renovation, kitchen upgrade, and bathroom renovation rank the highest of most likely adding value to the home for sale.
Rank of projects highest to lowest (2017 Remodeling Impact Report):
If you are thinking of selling your home and need to do a few updates first, The National Association of Realtors Remodeling Impact Report offers data on the seven projects worth doing that will result in the highest return on your remodeling dollars.
Upgraded landscaping and a new roof are report to have the highest return at 100% or even a little more.
If you would like a copy of the full report, please drop me an email.
According to the National Association of Realtors 2017 Remodeling Impact Report, kitchen remodels are most likely to add resale value and highest appeal to home shoppers. It is estimated that home owners can recover approximately 57% of the renovation cost.
The two main reasons home owners remodel are to increase the home’s value and for greater enjoyment of the home with little overlap between these two goals.
Several interior and exterior projects were examined. Interior projects examined in the study include: master suite, kitchen upgrade, bathroom renovation, basement conversion to living space, insulation upgrade, closet renovation, new wood flooring, HVAC replacement.
The top five interior improvements that appeal to buyers and likely to have most recovery cost at the sale are:
kitchen upgrade 67%
complete kitchen renovation 67%
bathroom renovation 58%
new wood flooring 91%
add new bathroom 52%
The top five exterior improvements with the greatest remodeling value: