Certain residential real estate projects may produce good ROI

On Behalf of | Oct 3, 2019 | Residential Real Estate

Homeowners who are thinking about selling their homes may be debating whether they should spruce up certain areas of their homes first. For instance, perhaps they should modernize their kitchens. Or, maybe they could replace their HVAC systems. Here is a look at a few projects that may or may not be worth completing before attempting to sell residential real estate in New York and elsewhere.

First, research shows that updating a kitchen costs about $68,000. Unfortunately, homeowners who fully remodel these rooms may recoup just under 60% of the money they pour into these renovations. In the same way, a bathroom remodel can easily cost $35,000, and homeowners can expect to recover around 57% of the investments they make in these rooms.

When it comes to remodeling a basement or an attic, a basement remodel is generally the better option. The reason for this is that a basement remodel tends to be less expensive, yet generate more profit than an attic remodel. Replacing an old roof is arguably the best move that a homeowner can make when trying to sell. Research indicates that a roof may cost a homeowner more than $7,000, but the homeowner can expect to receive 107% of his or her investment back.

Now may be a wise time to sell a home before the winter season arrives. Of course, outside of dealing with remodeling projects, the residential real estate selling process can seem daunting due to the legal complexities it can involve. Fortunately, an attorney can help a home seller to navigate the legal aspect of this process to ensure that his or her rights are fully protected from start to finish in New York.