People ask all the time, as they are preparing to sell a home, “What projects should we do, or not do?” We know kitchens and bathroom remodels are the way to go, but how do you quantify this? What project will allow me to recoup the highest percentage of my investment, best bang for the buck?
I recently discovered an amazing trove of data that included stats for Fort Wayne, IN 2019. Spoiler alert… not a single project yielded a dollar-for-dollar return.
The best you could do is spend about $8k to add stone veneer to your exterior. You’re likely to see about an 85% return on your money. I’ve seen this done a few times on older homes, and it definitely updates the curb appeal.
After that, you can do a “minor remodel in a mid-level home”, according to Hanley Wood Media, a data collection firm that tracks information in cities across the country. You can expect around a 73% return there. I would interpret that to mean refacing cabinets, maybe some new counter tops, and/or some snazzy new matching appliances in a $100-200k home.
Call Patrick Gillan with The Antrim Group for advice on preparing your home to sell and maximizing your equity. (260) 420-5730
Source data: Hanley Wood Media, Inc.