Remodeling a home is an exciting and fun process; you’re able to customize your home to fit your living needs, and your home feel uniquely you. Many young couples will opt for a “fixer upper” in the hopes that they can turn their hard work into sweat equity. While most remodeling projects will add value to your home, different projects give a bigger return on your investment. Here are some of the changes you might be looking to make, and what kind of ROI you can expect:

Kitchen – Any good Realtor will tell you that there is value in remodeling kitchens and baths. While having a nice, relaxing bathroom may be nice, most families agree that a spacious and comfortable kitchen is a top priority. The average cost of a kitchen remodeling is $17,000, although high-end or large kitchens can cost up to $50,000 or more. Most kitchen remodels will get you a 70-80% return on your investment, and will often times help your house sell more quickly.

Bathrooms – An average bathroom remodel is $12,500, but you can do sections of the bathroom to help freshen up the look. Paint, a new vanity and a fun shower curtain can do wonders for a bathroom, and can be an inexpensive as $3,000. If you’re planning on putting a lot of money into the kitchen, you’ll want to at least do some kind of work to your bathrooms. On bathrooms, you can expect about a 78% return.

Additions – Adding a bedroom or bathroom to your home can make your house very attractive to buyers, especially if you’re adding a third bedroom or second bath. Many first-time home buyers are looking at 3/2, since they may be newlyweds, or have or are planning to have kids in the next few years, so upping your property from a 2/1 to a 3/2 is a major upgrade. If you’re planning on adding a bathroom, you can expect a 66% return and other additions can have an ROI of between 80-90%.

One of the most important things to keep in mind when remodeling your home is that you never want to over-remodel for your neighborhood, since it makes it extremely difficult to recoup your investment. One great rule to follow is the 15% rule—meaning you shouldn’t invest over 15% of your home’s value on any one home project.

For more remodeling and Aurora real estate information, visit us at PorchLight.com.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

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