Will Your Remodeling Project Pay Off?
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With the real estate market being somewhat volatile, many home owners are opting to remodel their current homes. It’s valuable to know which projects will be the best return on your investment when you do sell. As an agent, the best advice I can give is:
- start with necessary items first (i.e. roof, siding, plumbing, windows, electrical, furnace etc.)
- kitchens and bathrooms will yield you high percentages on your dollar spent
- family rooms are a good choice
- decks and outdoor entertainment spaces
While the roof, siding, windows are not very glamorous, they are a large part of why buyers may choose one home for sale over another. You’ll receive up to an 80% return on that investment. Next, kitchens and bathrooms looking updated and sparkly are another big selling factor. Those improvements will yield up to 75%.
Remodeling magazine’s feature, Cost vs. Value provides the results of their study each year, determining what the new data shows with regard to how improvements translate in to dollars returned when the homes are sold.
Contact me when you need information about your house in Lake Harriet or Lake Calhoun neighborhoods of Minneapolis, or Plymouth MN or any homes in the Western Suburbs of Minneapolis
Susan Hofflander is a seasoned real estate professional, providing real estate consultations for home buyers and sellers in the Twin Cities since 1994. Susan specializes in homes for sale in Lake Calhoun/Lake Harriet, Minneapolis, Plymouth, MN, Minneapolis Western Suburban Cities and Downtown Minneapolis Lofts.
Very helpful info, thanks.
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