By Mary Hobson
Home remodeling is a well-recognized way to help increase property value.
Many people use the equity that they have in their house to finance major remodeling projects, such as refitting the kitchen or improving a bathroom.
There are several types of projects that can not only add value to a house, but also make it more likely to sell.
Top Two Returns on Investment
According to market research commissioned by Remodeling Online, the addition of a room to a house is at the top of the list for return on investment.
This makes sense, as this effectively makes the house larger, and so steps up the "tangible value for money" factor.
Second on the list, with around a 90% return on investment, is kitchen remodeling.
The kitchen is the room which makes the largest single impact on new buyers, so it should be in good condition.
Even if the remodeling project is relatively minor, it can have a large impact on the price of the house and its ability to sell.
Other Investment Returns
New sidings, followed by bathroom remodeling, both give between 80% and 90% return on investment, and also have a large impact on first impressions of a house.
Down the line comes interior decoration; here it is necessary to be somewhat cautious as tastes are individual, and it is often wise to choose relatively neutral colors and themes.
Pools, decks and outside home remodeling projects tend to give around a 50% return on investment, and most people will undertake this kind of remodeling project for their own satisfaction and pleasure, rather than as a purely monetary project.
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