Thursday, April 28, 2011

Home Remodeling Projects with a High Rate of Return

By Mark J. Donovan

Kitchen and bathroom remodeling projects are two of the best home remodeling projects you can do for maximizing the rate of return on your investment. Prospective home buyers value updated kitchens and bathrooms more than any other home remodeling project. Landscaping also offers a high rate of return, as it provides the curb appeal for luring the prospective home buyer into the home. Once in the home, the newly remodeled kitchen and bathroom often seal the deal.

All other home remodeling projects offer less of a return on investment, and/or a longer time to recoup the investment, so consider your time horizon on how long you plan to live in the home after completing the project. If for example the housing market is in a recession or in a depression, as is the case today, you may want to think long and hard before investing more good money after bad.

With any home remodeling project, develop a good set of plans and a timeline so that you can better understand and control all of your costs and schedules.

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