Best Remodeling Investments for 2006
Are you trying to decide the best return for your remodeling project for 2006? This wonderful time of big dreams and goal setting has put a handful of projects in my lap for the coming year. Reading this article from the National Association of Realtors is making me glad we are remodeling the bathroom and not the kitchen this year.
Kitchen and bathroom remodeling projects are returning more of a homeowner’s investment than ever before, according to the 2005 Cost vs. Value Report published by the National Association of Realtors in REALTOR® Magazine and by Hanley Wood LLC in Remodeling magazine.
Many homeowners who complete midrange bathroom remodels can expect to make money; the cost on a national average for this project is $10,499, and the return is $10,727, or 102.2 percent, compared with 87.5 percent in 2002. On average, major midrange kitchen remodels cost $43,862 and return $39,920, or 91 percent of the costs to remodel, up from 66 percent in 2002.
Nationally, homeowners who add an attic bedroom spend an average of $39,188, and on resale, they recoup 93.5 percent of the cost. Master suites, however, do not fare as well; an upscale addition, which costs $137,891 on average, returns only $110,512 on resale, or approximately 80.1 percent of the remodeling expense.Realtor.Org.Hat Tip Hot Property at Business Week.
My mom told me to put the statue in the ground, just seems wrong to me but I did it. ...
What about RE/MAX Commercial? Where this classification came from?
I am pretty sure RE/MAX Commercial in volume sales must be above ...
Well Tom, once again you have said it much better than I could have. Unfortunately the folks at Move, ...
It certainly does not bode well for a fast recovery in the economic climate. This will affect all real estate ...
I HAVE 25 YEARS EXPERIENCE IN TELECOMMUNICATIONS..HOW DO I APPLY AT KAI. 
Definitely not a fan of Move Inc.!!! 
A lot of you really need to go back to kindergarten and learn to spell correctly. If you cannot spell ...
In 2008, there was an extension to push first-time home buyers to purchase their homes quickly since the program did ...
I also need HELP and don't know what to do about my problem. I have a garden apartment off ...
I have the same situation. I sold my home in July and am scheduled to to close in a few ...
Pingback by Home Improvement Ideas » Blog Archive » 5 Tips Before You Remodel Your Bathroom on 18 April 2006:
[...] TheRealEstateBloggers also discuss when to remodel a bathroom. [...]
Comment by Brandon Hopkins on 18 April 2006:
Thanks for the article. The BusinessWeek article was great!
Brandon Hopkins
Comment by M. Neuford on 7 September 2009:
There definately is a large difference in the cost of a kitchen remodel as compared with the cost of bathroom remodeling. Since the bath is such an important room when selling a home, updating your bath rather than kitchen could be a smart move in today’s economy. This is especially true if you need to sell now for some reason. I will not only increase the value, but will help it move faster.
Comment by BuildSmart on 25 September 2009:
I agree the bathroom is a very important factor for your homes value and appeal. However, I would say if someone was looking to buy a home the kitchen would stand out more. Everyone knows a kitchen remodel can be very costly and if they are going to buy a home that needs the kitchen updated it can scare them away being they would have to spend a lot of money to update it. The kitchen in my opinion is much more appealing than if the bathroom was remodeled. I would stick the money into the kitchen and try to fix the bathroom up with new flooring, vanity, toilet, and some inexpensive accessories if you would like to move the home for more money.
If you are in Northwest Indiana and you need more information on Kitchen and Bathroom Remodeling visit: http://www.buildsmartservices.com/index.php?option=com_content&view=article&id=26&Itemid=70