Remodeling Returns- Where should I invest?
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Studies have shown that 2 of the top home remodeling projects for return on investment (ROI) are for your kitchen and master bathroom. On average, the ROI is 80-100%. What does that mean? Well, it means that an investment in remodeling either of these rooms will yield a positive return when you go to sell your home. It isn't an investment where you wouldn't recoup your money and then some.
Other top returners are adding a new bathroom or room and adding siding. Poor investments include adding a pool, gazebo, remodeling a home office and, suprisingly, finishing your basement. Your individual circumstances may dictate different returns as will your neighborhood, location in the country and how unique to you (aka not mainstream) the style. One thing to keep in mind, "Don't exceed the ceiling for the neighborhood, or you won't get your money back."
In all of these cases, the use of technology can enhance the return. The returns on kitchens and baths are higher generally because buyers have emotional attachment to these rooms. Adding enhancements to the remodel that affect a buyer's lifestyle or how they live in those rooms is smart. If you can sensibly include technologies that add comforts and conveniences or add entertainment enjoyment, you will strengthen that emotional bond. Therefore, technology, albeit a small portion of the overall remodel cost, can have a significant value in sealing the deal.
Additional sources:
- Value of Connected Appliances
- NEWS: Rackspace Partnership Announced
- NEWS: AMCEST Central Station Partnership Announced
- HDMI Explained Finally
- This Isn’t Your Mother’s Kitchen
- Getting Started in Home Control and Automation
- Higher Prices: Are Specialty A/V Dealers Ripping You Off?
- Will Consumers Pay for Energy Management?
- Comparing 3D Systems
- Is 3D Struggling to Become Mainstream?
Give and Get. Find out how.
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