If you’re thinking about remodeling, you’re likely considering what kind of investment it will mean — and whether that investment will pay off if you sell your home. Whether you’re considering a bathroom remodel, kitchen remodel, basement remodel, or whole house remodel, we’ve got some answers you might like!
The good news is, statistics for 2013 show that this year is expected to bring better return on your remodeling investment than much of recent history. According to the Remodeling Cost vs. Value Report 2013 there is an increase in the cost-value ratio of home building and remodeling projects due to lower costs and stabilizing house prices.
What does this mean for you? Well, according to statistics specific to the Minneapolis area, if you complete a midrange bathroom remodel in 2013, your return on investment will be 60.2%! Even better, a minor kitchen remodel (say in the $18,000 range) will recoup you 67.6%, while giving you an updated kitchen full of convenience and style.
With cooler weather around the corner, you might be gearing up to get cozy in a newly refinished basement. That basement remodel might cost you $30,000 or more, but you could expect around 60.2% of that cost to come back to you if you sold your home (something you can reflect on while curled up in a blanket watching TV in the new basement you’re sure to spend lots of time in).
Need new windows to keep the warm air in once fall and winter arrive? Replacing your windows with vinyl windows is said to bring almost 70% of that cost into the value of your home.
If you’re considering a remodel, but not sure how long you’ll stay in your home, know that the money you spend now will be a great investment not only in the enjoyment you’ll get from your new space, but also in the value of your home.
Ready to get a jump on that Twin Cities or St. Paul remodeling project? Contact us here at Andrus Built today for more info, and get started on that new room this summer or fall!