We saw this online report for 2023 return on investment on
remodeling projects; it had some interesting and surprising data.
Check out some of the data:
Garage Doors 99%
Window Replacement-Vinyl 71%
Wood Deck Addition 46%
Adding Faux Stone 108%
Composite Deck Addition 38%
Minor Kitchen Remodel- Midrange 79%
UPSCALE Primary Suite Addition 20%
Bath Remodel-Midrange 64%
Data source: 2023
Remodeling Cost vs. Value Report-South Atlantic
https://www.remodeling.hw.net/cost-vs-value/2023/
We have 7 tips that can save you money and stress if you
are considering a remodeling project.
#1 Write Your Vision
Write
down in detail your remodeling vision with a complete list the products,
fixtures and finishes you want.
#2 Cost Saving
Trade the
savings on lower-priced items for the ability to afford higher-priced items you
deem more desirable to YOU. Here is an Example. If you’d like to spend on a “focal”
or more prominent light fixture you love, why don’t you select more modest
fixtures for hallways, laundry room, garage? Or maybe not the most expensive
counter tops for your kitchen but counter tops that still give you an awesome
look but about 10-20% less in price.
#3 May Sell
Do not go
wild on items that are costly to change out if you want a better return on
investment.
What the
most personalized home feature you ever seen?
For me it was custom purple counter tops in the kitchen including
flooring and wall color…they really liked the color purple.
#5 Interview Contractors
Getting a
couple estimates on the exact same work, make sure to compare apples to apples.
Sometimes
the lowest price does not mean it is the best contractor for you. Ask for references
or to see their work.
#6 Verify
Verify
your contractor is truly licensed in the field of work they will be doing for you. Also, that they have proper insurances and
are bonded. This is important, we could tell stories on this topic alone.
#7 Think Hyperlocal
Get your estimates for projects and talk with
an experienced local real-state professional about home values in the
neighborhood and what YOUR ROI might be.
No matter what your return on the investment maybe you still may want to
proceed forward BUT IT’S BEST TO BE WELL-INFORMED.
Thinking of selling a property? We would love
to let our knowledge go to work for you. It’s a big decision, we know. We’re to
help!
Brandi Cook + Vikki Crossland
803.645.3325 | info@aikenhomes.com
Meybohm Real Estate
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