Fast, Responsive, and Professional

Articles

What Renovations Generate The Most Revenue For Your Home

Rent It Network - Wednesday, February 19, 2020

Home renovations are a popular method of restoring life to a property.  This can involve replacing and remodeling broken, damaged or outdated areas of your home.  Performing these updates can improve the overall aesthetic of your home and increase the curb appeal. While you may have an area of your home you can’t wait to remodel, the following improvements have been reported by HGTV to generate highest return on your investment. 

  1. Minor Bathroom Remodels: Bathroom additions can really add a touch of class to small and older spaces. Bathroom additions are often small and can be done at little cost to a homeowner or investor. Most bathroom remodels include additions to the tub, floor tiling and sink leading to a return of almost 75 percent when you consider the increased value of your property.
  2. Decks and Patios:  While the addition of a deck can be expensive and range between $10,000 to $15,000, most additions generate a return of around 90%.  Performing minor repairs to the stairs and railings and paintjobs of your current deck can also improve the curb appeal and produce a higher return. 
  3. Major Kitchen Additions: Complete kitchen remodels involving islands, countertops and the addition of stainless-steel appliances can be expensive ranging up into the mid $40,000s. HGTV experts recommend budgeting 10 to 15 percent of your total home  remodel expenses into improving your kitchen as it can be the gathering point of many household conversations and activities; and a key selling point of your property. Remodels of this kind are expected to generate near 80% return of repair costs in home sales or rent payments. 

When you’re in the market for a property management company that can help analyze and determine the best renovations for your home contact the experts at Rent It Network today. Rather it be a bathroom remodel, the addition of a deck or patio, or a complete kitchen remodel, a Rent It Network specialist will be eager to help you take a collaborative approach to make the most of your home’s value. Text the rental experts at Rent It Network at 813-534-4662 today!