Maybe you’ve remodeled your kitchen, complete with stainless steel appliances and quartz countertops, or maybe you put in a large swimming pool. You should see that investment pay off when it comes to sell, right? Well, not always.
As an example, the National Association of the Remodeling Industry estimates the cost of a kitchen renovation at approximately $60,000. However, the National Association of REALTORS® estimates a 67 percent return on that investment.
Homeowners need to keep in mind that cost does not equal value.
“I have seen a lot of homes in which the owners have done major updates, but it just doesn’t make sense given the neighborhood,”. “Before you spend $60,000 on a kitchen renovation, consult a local appraiser who can give you a before and after assessment to help you determine where your money is best spent.
Good luck.
