How to Profit from Home Renovations
What Gets the Best Return on Renovations to Your Home?
Surprise! Renovating the exterior will get you a bigger return on your investment when it comes to home improvement project. Sure, it may not be as satisfying as remodeling the spare room, or redesigning the kitchen, but people take notice from the outside.
What Type of Return Can I Expect?
For siding repairs, according to Remodeling Magazine, vinyl siding jobs on average cost about $12,528, and come with an 80 percent return rate. That’s a high percentage rate, and something not to pass up! But since investing on the exterior is one of the best investments for your money, you are probably wondering what is the worst investment?
What is the Worst Home Improvement Investment?
An investment with the least rate of return would be home remodeling. The worst way to spend your money would be to remodel a home office. From Remodeling Magazine, the average cost of this job would be $28,094, with only a small return rate of about 54.6 percent.
It’s probably more visually satisfying to have a shiny new office, or a newly furnished living room, since you can get everyday pleasure from these improvements. A new furnace, roofing or siding project may cost more money, but the good news is that these more expensive improvements do not go unnoticed and have a great resale!
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