Trying to decide which home improvement project to tackle next? To start you must decide if you are remodeling to improve an area of your home that is in need of some TLC or if you are remodeling to maximize your Return On Investment (ROI). If a specific area in your home needs TLC then your decision is straight forward. However, if all areas of your home are in decent shape and you are looking to maximize your investment in your home then your decision is a little easier.
To get the greatest return on your money, without adding additional square footage to your home, you should consider remodeling your kitchen. On average a Kitchen Remodel will yield an ROI of 80-100%! This is an amazing rate of return on any investment, but the added bonus is that as a homeowner you get to enjoy the benefits of your Kitchen Remodel until you sell your home.
Another room to consider remodeling to maximize your return on investment is your bathroom. As a side note, if you live in a home with more than two bedrooms and only one bathroom you might want to find a way to add an additional full or half bath somewhere in your home. This will dramatically increase the resale of your home. If that is not an option or you already have enough bathrooms for your home consider remodeling your current bathroom. On average bathroom remodels yield an ROI of 80-90%.
One of the main reasons both the Kitchen and Bathroom have such a high rate of return is that most buying decisions (including home buying) are based on emotion. When homebuyers walk into a home that has a run down kitchen or bathroom all they think of is the time, money, and headaches they will need to invest to get the room up to their standards. On the flip side when homebuyers walk into a home that has a fresh updated kitchen it can get them very excited. They know they won