Bathroom And Kitchen Renovations Improve Value of Boulder Real Estate

Your Boulder real estate will undoubtedly appreciate but why not improve that appreciation potential and enjoy the benefits of a nicer kitchen or bath for the duration of your stay in your new home?

Often homeowners, particularly those that purchased an older house, may be less than thrilled with their kitchen or bathrooms. Yet, some new homeowners are tentative to start major projects right away. If you have the available money or financing, you might want to consider tackling these remodeling projects sooner rather than later.

This Boulder Realtor has long felt that bathrooms and kitchens are two of the biggest items that help sell a house. Not surprisingly, homeowners typically receive the best return on investment for repair and remodeling costs to these areas as opposed to any other part of the house. In fact a recent report on MSN House & Home noted that homeowners who remodel kitchens and bathrooms almost always recoup 90 percent or more of their costs, while owners who finished a basement usually got back less than 50 percent.

To ensure that you make an educated decision before embarking on any home improvement project, it is important for you to understand the factors that determine the payback value of renovation projects.

  • Where you spend your money is a key factor. Kitchens and bathrooms will likely provide the best dollar-for-dollar return, while finishing a basement or adding a pool the least.
  • The scope of the project will greatly impact your return. There is a big difference in scope between staining your cabinets a different color as opposed to adding granite or quartz counter tops and gourmet appliances such as stainless steel or the new bronze finish showing up in popular magazines such as Architectural Digest and Dwell.
  • The value you receive for a particular renovation also depends on how coveted that feature or item is at the time you put your house on the market.
  • When you sell, the cost of remodeling will also affect how much money you can recover for your expenses. If the cost for a buyer to remodel a similar house is low, they will likely be less willing to pay significant costs for your renovations.
  • The strength of the real estate market when you are selling your home can also influence the cost you will recoup for your improvements.

Whether you plan to sell your home in six months or six years, why not enjoy your surroundings now while increasing the value of your home?

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