What's The Home Update That Has the Best Return on Investment?
Posted by Jenny Durling on Sunday, January 10, 2016 at 6:07 AM By Jenny Durling / January 10, 2016 Comment
If you are thinking of selling or simply want to improve your home, what's the #1 think to do? According to HGTV, it's a minor bathroom remodel.
That's right! Most home improvements do not return what you spend on them, however a minor bathroom remodel averages a 102% return on resale. It's actually the only update they concluded would gain you money. 2% is not alot, but it's certainly better than LOSING money.
You can replace or re-glaze your tub, install a new tile surround, floor, toilet, sink, vanity and fixtures for around $10,500. You'll get back an average of $10,700 on the resale. It may only be a couple of hundred bucks but a major bath remodel will likely leave you losing 10-15% of what it cost you.
Don't get me wrong. If you are not looking to sell but plan to live in your house for a number of years, then go ahead and make the updates that you truly want for yourself. Just realize, that when it comes time to sell, that steam shower and heated floors you are dying for are not likely pay for themselves.