Why Invest in Your Home?
Let’s face it – remodeling can be expensive, time consuming, and just plain inconvenient. So why should you do it? Simply put, the pros definitely outweigh the cons in the long run.
Remodeling adds value.
How much value? According to the 2019 Cost vs. Value Report that compares average costs for remodeling projects with the value those projects retain at resale in 136 U.S. markets:
- Upgrading to a Grand Entrance Door increases average resale value by $6,257.
- Adding Vinyl Replacement Windows increases average resale value by $11,644.
- Adding Wood Replacement Windows increases average resale value by $13,422.
These are some impressive numbers that simply cannot be ignored! As you can see, investing in your home is one of the best financial decisions you can make. Whether you’re planning on staying in your home for the next 25 years or selling it next month, understanding your expected Return On Investment (ROI) is extremely important.
Which brings us to the next question: Can you afford a remodel?
While cost is definitely one of the biggest concerns for homeowners, and it’s no secret that renovations can cost big bucks, remodels don’t have to cost an arm and a leg.
Not only are there many relatively inexpensive and easy renovations that can be done to add value and appeal to your home, www.moneycrashers.com gives some great advice on how to make the changes you need without breaking the bank.
2019 NATIONAL AVERAGES