If you are considering a remodeling project and plan on selling your home at some point in the future it is wise to consider which remodeling projects are most profitable for you. Some remodeling projects add very little value to your home even though you may spend thousands of dollars. Only a few projects result in recovering 100% or more of project costs. A recent study completed by the Texas Association of Realtors provides great insight into which projects would most likely result in recouping the money spent on a remodel project as well as possibly contributing to a home selling more quickly and at a higher price.
The Worst Remodeling Projects for Recouping Expenses: These projects typically recoup only 25.5% of the project cost upon resale of the home.
- upscale/luxury projects
- bathroom expansion
- master suite expansion
The Top Remodeling Projects for Recouping Expenses:
- Fiberglass attic insulation (recoups up to 163% of costs) Check out this video to learn how to do this yourself.
- Manufactured stone veneer projects (recoups up to 157% of costs)
- improving curb appeal
- improving energy efficiency
If you are considering a remodeling project talk to your real estate agent to help you determine if the project is a good fit for your home. A good realtor will give you market insight so you know what features help sell a home in your area.
If you are looking to buy or sell a home in the Lake Conroe or surrounding areas or looking for a realtor in any other location drop me an email.