Report: Best remodel projects to invest in

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Homeowners planning a remodel who also want to sell their house in the future might consider choosing a project based on its potential impact on the home’s resale value.

KARE 11 ran a story last night following Remodeling Magazine’s Cost vs. Value report, which collected data on remodeling projects in areas like Minneapolis and compared the cost of the project against the cost recouped in resale value.

Remodeling Magazine's Cost vs. Value Report named a wooden deck addition as the project with the best return in the Minneapolis area.

Remodeling Magazine's Cost vs. Value Report named a wooden deck addition as the project with the best return in the Minneapolis area.

A wooden deck addition topped the list, with 81.8% of the project’s cost recouped, followed by vinyl siding replacement at 80.7% recoupment.

A minor kitchen remodel (about $21,000) came in third, with 79.5% costs recouped.

But Jason Fabio of Ispiri Design Build Remodel told KARE the kitchen remains your best bet if you can only pick one room to invest in.

Fabio and other remodelers say transforming a kitchen continues to give the best bang for the buck come re-sale time.

“Everyone likes to gather in a kitchen. So on a smaller kitchen we’re expanding those so people can gather. So we don’t have that capacity problem,” Fabio added.

Both a deck addition and a kitchen remodel affect spaces where family tends to spend a lot of time, so they’re good choices whether you’re eager to move or you want to be able to enjoy the space for years to come.

Fabio and the other remodelers interviewed belong to Minnesota’s chapter of National Association of Remodeling Industry (NARI), of which Warners’ Stellian is a platinum-level sponsor. NARI is a not-for-profit organization that promotes ethical and sound business practices within the industry. Choosing a NARI member for a remodel is a must for securing the investment in your project as it is committed to protecting the rights of its customers — the nation’s homeowners.

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http://www.flickr.com/photos/mdu2boy/ / CC BY-ND 2.0
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2 Responses to “Report: Best remodel projects to invest in”

  1. Teri Larsen Says:

    Kitchens are a great bet for return on investment. They do need to be done right, however. That doesn’t mean expensive; rather, the remodel needs to be done with the total value of the home in mind. And, hiring an interior designer to make sure the remodel blends with the rest of the home isn’t a bad idea, either!

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