Home Improvements That Make the Most “Cents”

Monday, February 02 at 10:20 AM
Category: Personal Finance

Looking to spruce up your home but wondering which home improvements make the most “cents”? There are two sides to looking at the worth of home improvements. The first is the personal value you place on having your home look the way you want it to. The second side is looking at which renovations have the best return on investment when you go to resell your home. Since the first side is well, personal, we can’t give you any insight there. However, we will look at the other side of the coin – renovations that often attract buyers should you decide to resell your home at some point.

Though kitchens tend to be one of the costlier renovations, they also tend to be the most popular feature to draw a potential home owner in and keep them there. After all, the kitchen is often where many people spend the majority of their time. A minor kitchen remodel in 2014 averaged $18,856 and owners recouped 82.7 percent of the cost, according to the 2014 Cost vs. Value Report.* The best ingredient to spice up your home may just be a renovated kitchen.
Doesn’t it make you feel even more fresh and clean stepping out of a new shower into a chicly remodeled bathroom? You’re not the only one who agrees which is why in 2014 bathroom remodels recouped on average 72.5 percent of the $16,128 average cost of a bathroom remodel, according to the 2014 Cost vs. Value Report.* So if you want to cause a splash that goes further than the bathtub, consider remodeling one or more of your home’s bathrooms. 
Master Bedroom
Who makes a home purchase? The adults and not the kids or future house guests! The adults want a bedroom they can feel comfortable in and enjoy. You’re more likely to interest a potential home owner with a remodeled master bedroom than you are a remodeled second bedroom. A master suite addition averaged $103,844 in 2014 with owners recouping 67.5 percent of the cost, according to the 2014 Cost vs. Value Report.* Doing this type of remodel won’t be a snoozer for your home’s value. 
More Resources
Looking for additional insight on home improvements? Follow our Pinterest board, “Improve Your Home.”*
It just may make the most sense and cents to do a kitchen, bathroom or master bedroom remodel in your home. 

Links marked with * go to a third-party site not operated or endorsed by Arvest Bank, an FDIC-insured institution.

Article edited by blog admin on 2/27/15.

Tags: Financial Education
Angela Downer on 3/10/2015 at 2:43 PM
I'm trying to sell my house, and I haven't had a lot of luck so far. It is an older house, and I don't have too much money for a renovation. I'm glad you listed your first tip about renovating the kitchen, and that might be all that I need to do. As long as the kitchen looks good, hopefully people will start showing a greater interest in my home.

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