There are lots of questions to ask yourself when you're talking about your home and tossing around the idea of remodeling.

That's because whether you're looking to add aesthetically pleasing décor to a room, or looking to sell your home, you're still looking to add value without spending a lot of money. And believe it not, many times the money that it costs you to remodel doesn't add up to the value you'd hoped to have received.

It's important to know what can be done to add value, without wasting money on unnecessary improvements. According to Remodeling magazine's annual Cost vs. Value Report for 2014, by replacing the front door—or sometimes simply painting it—you can add, on average, a 96.6 percent return on the amount you spent on the door and add that value to your home. That's great value.

Most people like to remodel rooms that they spend most of their time in, like the kitchen. They're not wrong. Updating kitchens and bathrooms is still one of the most profitable, if not difficult, ventures you can undertake, often adding 82.7 percent of the cost back to the overall value of the home. And while that sounds well and good, the average minor kitchen remodel still averages out to about $19,000. Not exactly pocket change for the average consumer.

Sticking with small renovations and growing as you run out of ideas is always a good rule of thumb. By replacing or fixing things all over the house - guttering, energy saving windows, heating and cooling elements, and small decks - you can add value without having to knock down walls. If you're in the adventurous, “We need a new room” category, you can easily convert an attic or other usable space into a bedroom or powder room and have a return of 84.3 percent. That's not to say that adding on a spare bedroom and expanding your house isn't profitable, but there are a lot of factors you should think about before taking that step.

Here are three renovations with great returns on investment:

  • Deck addition (wood): 87.4 percent
  • Garage door replacement: 83.7 percent
  • Minor kitchen remodel: 82.7 percent

Here are three renovations with not so great returns on investment:

  • Home office remodel: 48.9 percent
  • Sunroom addition: 51.7 percent
  • Master suite addition: 67.5 percent

Remember that while these are monetarily based figures, you still can't put a price or return on what a change would mean to you or your family. If you want to add that game room or bed that hangs from the ceiling, do it. Just remember that it's your home, and you should enjoy it as much as possible. Contact me today for a consultation. I will be happy to answer any questions you may have, and/or help you determine the value of your home.

Page Plager and Blaise Bugajski
Property SELLutions
Ph: 770-639-SOLD
Info@PropertySELLutions.com
www.PropertySELLutions.com

Contact us today if you are looking to buy or sell a home in the Greater Atlanta, Georgia area - including North Fulton, Forsyth County, Gwinnett County, Cobb County or Dekalb County.

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