Where to Invest Your Money When Improving Your Home?

According to the latest statistics your money spent on a major kitchen, or bathroom remodel will be less likely to be recouped than if you spend that same amount of money on basic maintenance like new siding. New siding recouped almost 93 percent of its cost. The other home improvement likely to return more will be a minor kitchen remodel about $15,000, which returned almost 93 percent. Roof and window replacements will return 80 percent or more.

Buyers do not want to think that their new house may require basic repairs. Maintenance items can go through the budget very quickly.

A nice kitchen and bathroom are still very important and can be a great investment you can make to your house. These are the two big rooms that buyers are looking for.

If you're thinking about investing money into home improvements this year, keep a few things in mind. How well will your investment pay you back, and what is the most important place to invest. Of course if you live in a neighborhood of $200,000 homes you don't want to remodel and spend $50,000 on your kitchen, it will be hard to sell your home for more than $200,000.

In the hottest markets, investing for a kitchen or bath remodel is a good investment, sometimes returning more than 100 percent of the cost. Kitchens and baths are areas in a home where you can see how the money has been spent. These are the most expensive areas of the home in terms of remodeling. And are areas where most people spend most of their time at home.

Maintenance items are more important for resale, if the roof is curling and the siding is bad you may not even be able to sell the house. Even with a newly remodeled kitchen or bathroom a potential buyer will overlook those items knowing they have to replace the roof or siding. Every homeowner's first priority will be to keep the existing structure sound. It is always better to take care of the maintenance items then to spend thousands to redo your kitchen or bath room.

Start by thinking about your investment from a buyer's perspective. It is better to have a new roof and a dated kitchen or bath. Most buyers have a limit on what they can spend for a house. When they know they don't have to spend money on the basic maintenance items, then they're more likely to buy the house and consider remodeling the kitchen or baths themselves. More than 70 percent of buyers who purchased a home knew what they were going to remodel before they even closed on the deal.

In review check your houses maintenance before considering a major remodel, and take care of the basics first.



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