Carrie Du Melle | Broker Associate
Weichert Realtors-Tovar Properties
815-980-9366
This housing market is…. Crazy to say the least! Some new homeowners have had to settle for a home that wasn’t exactly what they wanted, or didn’t quite have everything to suit their needs.
Luckily, there are some updates that will not only create instant equity, but also transform your new home into a more usable and enjoyable space.
Kitchens and bathrooms hold the most weight in the cosmetic aspect of the home. If you have an updated kitchen, you can expect to really improve the value. Based on information from the Remodeling Magazine Cost vs. Value Report, kitchen remodels have a national average return on investment between 52.5% and 71.2%. As for an updated bathroom, according to Curbio, the average return on investment on a bathroom is 120%! These numbers can vary per area or neighborhood, but it’s safe to say, it’d be a great investment when you decide to remodel or make updates on the kitchen or baths.
Finishing a basement and adding usable space or an extra bedroom or bathroom could be a larger project, but has many positive impacts on the value of your home as well. Not only are you increasing your liveable and usable square footage, but you are making the home to fit your family’s needs. In the future, when you decide to sell, this is a huge selling point! Of course, the spare bedroom in the basement would need to have a proper egress window. Adding a bathroom, or another rec room or living area would be great! If you take a look at the PODS blog, they are estimating that a basement remodel has a rate of investment of 50-80% on average across the United States.
If you are wanting to talk this out with someone, contact your local Realtor and get more details, and meet with your preferred contractor. These additions, changes, and upgrades to your home are sure to create value in the long run, and also offer a great space for you and your family to enjoy.
