Return on Investment for Home Remodeling and/or Renovations in CT

You may have heard that when you remodel a kitchen or bath you get all (or most) of that money back when you sell. Really that depends on how much money you spend on the kitchen or bath, when you sell your home, and how marketable the remodeling is (colors, current  trends (but not fads), aesthetics, and functionality.  Overspending for your area is not ever a good idea, so if you have a question as to whether your proposed remodeling project  would be worth the money or if you are better off moving to a new location, call me. I'll give you an honest assessment- no charge.
If you are considering buying a home that needs a renovation, your agent should also help you with the cost vs. value of the proposed renovation, and whether or not that particular home makes good fiscal sense for you considering the amount of remodeling that you want to do. I  will always do that for a client, I assume that most agents will.

A few respected sources put out reports on the average ROI (return on investment) for all types of renovation and remodeling jobs.  Realtor magazine is a good source for national averages, but if you want something a bit more specific for our state, Remodeling magazine gets into bigger detail, and its geographically relevant.

I'll include a few ROI's on more upscale improvements below for your convenience -  These figures are from 2009-2010, and  very relevant

90.7%     Siding Replacement
84.9%     Siding Replacement
78.8%     Window Replacement (vinyl)
70.2%     Window Replacement (wood)
62.8%     Major Kitchen Remodel
59.2%     Roofing Replacement
56.7%     Bathroom Addition
49.8%     Master Suite Addition

Also, according to Remodeling Magazine, a mid-range remodel would net on average the following ROI

117.8%    Entry Door Replacement (steel)
 86.0%     Vinyl Siding Replacement
 84.1%     Wood Deck Addition
 83.6%     Attic Bedroom
 82.3%     Vinyl Window Replacement
 81.5%     Minor Kitchen Remodel
 72.9%     Major Kitchen Remodel
 69.5%     Two-Story Addition    
 68.6%     Bathroom Remodel
 67.4%     Roofing Replacement    
 64.0%     Basement Remodel 
 63.4%     Master Suite Addition
 62.3%     Family Room Addition
 61.1%     Garage Addition
 58.3%     Bathroom Addition    
 47.8%     Home Office Remodel  

Comments

[painting toronto]

Really this is the impressive information about the kitchen, bathroom, room renovation. I think, first you buy a home and than after renovate this home, I think, This is not right. because it so costly. But i tell you about the bathroom renovation, The more floor that shows the bigger your bathroom will seem. During a small bathroom renovation, you should try to uncover as much floor as possible with the use of wall mounted cabinets, sinks, and other items.Large tiles with small grout lines also helps the bathroom appear larger. Keep the floor light in color to help it reflect light and create the illusion of a large space.
painting toronto

[Dave]

These are some really interesting stats because I’m looking into doing some work on my property to boost the house valuation a bit before we sell up so thanks a lot for this, it’s really helpful.

[bathroom renovations toronto]

Just so happens that I also want to do home renovations. Your blog is much helping for me in this work. By the help of your blog May I do my homes remodeling so easily. Thanks for sharing this post so much.

[philadelphia home remodeling]

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[Danes Allyson]

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