Remodel Your Kitchen or Bath and ROIs

Bath and Kitchen Remodels provide some of the Best Home Improvement ROIs

By Mark J. Donovan

One important item to consider when contemplating remodeling your kitchen or bathroom is the expected return on investment. For some homeowners, having a positive ROI on a kitchen or bath remodel may not be important. They simply want or need the new kitchen or bath no matter if they ever recover the cost for it. For other homeowners, where the finances matter, knowing there is a positive return on investment is essential for moving forward with the remodeling project.
Traditionally remodeling kitchens and bathrooms are two of the best home improvement projects for achieving a solid return on investment.

On average, kitchen and bath remodel ROIs are in the vicinity of 85 to 100% in the short run. Home buyers love to see modern and clean kitchens and bathrooms.

However, achieving a solid ROI on kitchen and bathroom remodels can become elusive if the amount of money sunk into either of the two projects is much more than what the local real estate market can support. This is particularly true if the period of time between remodeling the kitchen or bath and attempting to sell the home is very short.

One way to improve your return on investment with a bath or kitchen remodeling project is to do much of the work yourself, or at least act as the general contractor.

By acting as your own general contractor and hiring all the required subcontractors you could expect to save 10 to 25% on the overall cost of the project. Moreover you could save around 40 to 50% on the overall cost of the remodel if you chose to do much of the remodeling work yourself.

Remodeling a kitchen own your own can be a challenge for the homeowner, however a do it yourself bathroom remodeling project is well within most moderately skilled do it yourselfers capability.

So if you would like to enjoy your home more by modernizing your kitchen or bathroom, and at the same time achieve a solid rate of return on your investment, first understand the real estate market conditions in your particular town and neighborhood.

Then assess your DIY skills and available time, to either act as your own general contractor and/or to do some of the remodeling tasks yourself. From there you can then assess what type of amenities to include in your bath or kitchen remodel and how much of a budget you should allow for the project.

For help on your kitchen remodeling project, see my Kitchen Remodeling Bid Sheet. The Kitchen Remodeling Bid Sheet provides a request for quote checklist section that you can provide to prospective kitchen remodeling contractors. It also includes a comprehensive kitchen remodeling cost breakdown table, in Microsoft Excel format, that allows the contractor to include his projected remodeling costs for every phase of the project.

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