Will That Kitchen Renovation Pay You Back?

That's always the question when it comes to renovations: Will the investment you make to upgrade your home come back to you when you sell? No matter where you live in the United States, there's a guide to help you decide.

Making that renovation decision is not only about money, of course. Sometimes it's a question of needing more space and choosing whether to stay and expand or move to a new house. It might be that you simply can't stand to see that 1970's era avocado green kitchen any more, or the turquoise and black tile in the bathroom. But after you've dealt with all the emotional and family issues, there's still the cost. Will you get your money back when the time comes to sell?

For the 19th year, RemodelingOnline has published its Cost vs. Value Report. This comprehensive report looks at the cost of 25 different remodeling projects. They combine that with data collected from more than two thousand Realtors® on resale values, and present the results in chart form. There is a chart for the country as a whole and for each of nine regions of the United States.

And the winners are…(drum roll, please)…the two rooms with the most plumbing! Nationwide, the projects that return the most at sale are kitchen remodeling – either minor or major – and bathroom remodeling. In the Pacific (West Coast) region, RemodelingOnline found that a minor kitchen remodeling or bathroom remodeling are actually worth MORE at resale than they cost.

Of course, you always want to use good sense on any home improvement project. Before choosing a contractor, seek recommendations from friends and family. Ask the contractor for proof of insurance and a written commitment to price and schedule for your work. Read the contract carefully and don't sign anything unless you understand it completely.

If the time has come for a change around your house, by all means do what's right for your family's needs. Using the Cost vs. Value Report, you'll have confidence that the choices you make will also suit your financial needs.