Home Remodeling - Is It Worth It?

Home remodeling can improve the quality of your life. It can also improve the value of your house. However, before you take on any project, it is a good idea to invest in one that is going to be worthwhile. Sometimes, these investments are going to benefit you and therefore you should take them on. For example, if you only have one bathroom and you have five people sharing it, adding on will boost your comfort level. This makes the project worthwhile. In other cases, though, you may find that the money you put into such a remodel may not be as wise to invest in as you think.

Making Kitchen Upgrades

Depending on the quality of your current kitchen and the amount of work you put into it, you could see a nice return on your investment in home remodeling. It is a good idea to consider making upgrades that are going to benefit you. However, you can expect to see a return of investment of about 81 percent on this type of upgrade.

The Addition of a Bath

Adding a bath to your home is a great opportunity to increase the functionality of the house. Updating it may provide you with less of a benefit in terms of the value boost to the property. If you put in a needed bath, though, you can expect a return of investment of about 72 percent, according to some real estate professionals offering a national average. Remodeling projects, especially those that take your 70's bathroom to a more modern level, will offer you about a 71 percent return on investment.

Adding a Master Bedroom

Sometimes, more space is the way to go. Adding square footage to the building is going to be an addition of value. However, the way you use it is also important. One selling point that can work pretty well is the addition of a master bedroom. This space will need to include closet space as well as a bathroom to really get the big bang for your investment. However, you can often see a return of investment as high as 68 percent in some areas. On the other hand, the value will increase significantly depending on the current setup you have. For example, if you have a two bedroom and one bath property and add a master suite (including a bath) the value of the property will increases significantly and you will attract other buyers, too.

Of course, every home remodeling project needs to be something you consider on two fronts. Is this investment going to be worthwhile for your particular needs? Second, will the investment add value to your home in the eyes of a buyer? Even if you do not plan to sell the property, knowing that the projects you do can boost your bottom line can be a nice addition especially if you do plan to sell in the next three to five years.