Achieving your dream home doesn’t come cheap. Major overhauls can cost you more than your investment. The last thing you want is to invest in upgrades that don’t give a full return such as the following:
Blame it on HGTV for encouraging your major kitchen renovation. However, a mid-range kitchen remodel is estimated to surpass its resale value by over $20,000. This costly investment will only take two-thirds as a return. Consider repainting or changing cabinets and other hardware. This will give your kitchen a beautiful update without breaking the bank.
You may want to put your bathroom makeover on hold if you only aim to increase your property value. Luxurious bathroom renovation only generates an estimated of 58% of your expenses.
Master bedroom expansion
A master bedroom that comes with all the bells and whistles can cost as much as $100, 000. Its ROI is pegged at two-thirds or half of its price. The extra space and extravagant amenities may sound enticing, but the renovation cost isn’t practical if you are tight on budget. Consider affordable alternatives that can give a luxurious vibe to your master suite.
Investing in these major upgrades are also time-consuming. Consider all the possible expenses and the ROI before renovating. If you’re planning to re-sell it’s better to complete minor, but worthy improvements.