The short answer is yes, but you may not recoup all of the money you spent. A kitchen remodel generally has an ROI (Return on Investment) of 70 to 80% so if you spent $20,000, you might see $16,000 added to the sales price.
You can recoup upwards of 50% to the cost of a bathroom renovation.
It’s important to distinguish monetary worth (ROI-Return on Investment) from visual appeal. Sometimes even the smallest improvement will add design interest, helping to sell the place.
David Waller has been a leader in interior design for over 45 years. The company offers tips on increasing home value.
- Flooring, especially hardwood: Buyers will sometimes pay over 2.5% just for a home with wood floors. The idea is that wood floors will last for years and sometimes look even better with age; if they become scratched or worn-looking, they can be sanded over and over again so there’s little replacement cost.
- Work surfaces: Good news, Deltona, FL! A new kitchen countertop is one remodeling that can give you an ROI of 70 to 80%, especially when it’s granite. People love granite, because every single slab is unique, with “imperfections” that only add more design interest. If it’s real stone, and not man-made, that’s even better, because “green” products also add value.
- Lighting: This makes your kitchen look bigger and brighter. Worn out sconces and broken ceiling-fans-with-lights are a turn off, and will make buyers go on to the next listing.
- Extra storage: This adds value in the eyes of any buyer, whether it’s shelves, extra cabinetry, appliance garages, or a peninsula with space to store pots and pans. By the way, even better if you have a shed, because that may cause your property assessment to go up in valuation.
- Bathroom: Are you looking to remodel this space, Orange Beach? Even the littlest upgrades add appeal, including replacing a tub or toilet, installing a soaking tub, creating some storage shelves, or placing a new floor.
For inspiration, feel free to come into the David Waller Interiors showroom in Port Orange, FL.