If you have watched any home improvement shows, you’ve probably seen how they seem to sink huge amounts of money into a home to give it new life. While the transformation of a home might seem mighty impressive, it is important that you take one major factor into consideration. What is the return on the investment?
It is interesting when you consider the difference in the sale price for a home that wasn’t renovated and one that was. According to some sources you could lose as much as half the money that you put into a remodel when the sale price before and after the remodel is taken into consideration. It is very rare that a remodel is going to be worth the money.
On the other hand, repairs are usually well worth the cost, and when it comes to simple, cheaper methods to improve the appearance of your home, painting or landscaping will give a good return on your investment.