A Model Home: Renovation Projects That Boost Resale Value

by Allison E. Beatty
KitchensAndCabinets.com Columnist
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If you're wondering whether a large kitchen remodeling project will pay off when you sell, take note: a minor renovation is actually more likely than to pay for itself than a major one is, when the time comes to put your house on the market. Other projects that typically pay back 90 to 95 percent of their costs include siding replacement and mid-range bathroom remodeling.

While many people undertake home renovation for the long-term, one cannot always predict what the future holds. A job transfer or layoff could force you to move, leaving behind that new $50,000 kitchen.


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Try Minor Kitchen Remodeling

If you think you might sell your home sometime in the next decade, consider doing a minor kitchen remodel instead of a major makeover. Your home renovation costs will be lower and you'll sleep better at night. On average, this type of project costs about $15,000, with about 98 percent being returned during resale.

The best way to make back home renovation costs in the kitchen is to give the room a facelift, according to an annual survey by Remodeling magazine. It may take years to pay off larger projects that include major structural work and the latest and greatest products. A minor kitchen remodeling includes:

Refinishing the cabinets
Installing some new appliances
Adding new laminate countertops
Replacing your sink with a mid-range sink and faucet
Adding vinyl flooring
Painting

Replace Vinyl Siding

New vinyl siding can have a big effect on a house's first impression. If your house has older siding that needs repair, consider replacing it with today's low-maintenance products. This is one home renovation project that can pay off handsomely--103 percent on average--during resale time. Remodeling magazine estimates that a vinyl siding project with upscale materials would cost about $10,000.

Bathroom Remodeling Pays Off

A mid-range bathroom remodeling project is estimated to cost $10,000. This work involves updating a 5-foot by 7-foot bathroom by adding:

New plumbing fixtures
A porcelain and steel bathtub
4-inch square ceramic tile around the bathtub
A solid surface countertop and sink
A medicine cabinet and light fixture
A ceramic tile floor

Recouping Home Renovation Costs

There are many variables that affect how much your house is worth--and how much someone will pay after a remodeling. It's best to consult with a real estate agent to get an estimate of your home's value before and after the remodeling. As you plan your next project, take these survey guidelines, along with the agent's recommendation, into account.

Source

Remodeling

About the Author
Allison E. Beatty is a syndicated real estate writer who has been writing home improvement columns for 15 years.

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