Is home remodeling worth it?

According to Remodeling Cost Vs. When remodeling your kitchen for resale, use traditional materials and appliances, such as wood cabinets, commercial-looking appliances, natural wood or stone floors, and stone countertops. Second, if you don't plan to move in the near future, spend your money on remodeling in the way you enjoy most. Real estate agent Ron Phipps recently showed a house with a kitchen that had been remodeled just two years ago.

I opened the Viking range and the original packaging was still inside, Phipps says. The kitchen is great, great, but they don't use it. Bathroom additions are the most returning, according to the report by Remodeling magazine, an average of 86.4 percent. The addition of attic bedrooms, family rooms and glazed terraces returned between 70 and more than 80 percent of the money spent and that doesn't factor in the value of your own enjoyment of all that new space.

Replacing vinyl siding with stone siding in a part of your home, such as a driveway, can improve the exterior of your home. The average cost estimate represents 36 linear feet of thresholds, 40 linear feet of corners and an address block, and materials including two layers of water-resistant barrier and corrosion-resistant slats and fasteners. This project can recover just over 92 percent of its cost. Some of the best home improvements think that a renovated kitchen, a new terrace, or a remodeled bathroom can be expensive.

Remodeling your home increases your enjoyment, but it can also increase the value of your home over time. If your remodeling project would delay you more than you can compensate at the end of sales, consider pricing your home accordingly and selling it as is. The compensation pays off for homeowners who dream of organizing numerous family gatherings, more space in the kitchen, a larger master bathroom or more space for hobbies. These are the projects that add the most value, how much you recover remodeling costs and how long you can expect it to take to renovate these parts of the house.

The main reason for undertaking any home remodeling project as an owner-occupant is the enjoyment you receive from living in a renovated home. To pay for home improvements, consider applying for a home remodeling or home repair loan, which are unsecured personal loans you can get through a bank, credit union, or online lender. For example, they will be able to tell you how much you can sell your house for if you redo the kitchen and if it is worth it. More than 70 percent of buyers who purchased existing homes knew what they were going to remodel even before they closed the deal, according to the HanleyWood Home Continuity Study, conducted in 2002 with the Harvard Joint Center for Housing Studies.

You can take advantage of the home equity you've accumulated when you're ready for renovations or major remodeling by applying for a cash-out refinance. Talk to a real estate agent to find out how much your home is worth and how quickly it could sell, and to help you determine if what you're looking for is available in your price range elsewhere.

Alejandro Neidenbach
Alejandro Neidenbach

Professional travel geek. Subtly charming coffee advocate. General pop culture trailblazer. Certified zombieaholic. Award-winning social media geek.