Q: What's better for resale value, refinishing your hardwoods or adding a bathroom?
Q: What do you think is the better return on investment, refinishing your hardwood floors or adding another bathroom? A:The answer might be surprising! It's the hardwoods. According to NAR’s 2022 Remodeling Impact Report
The report compares value-added estimates from REALTORS to cost estimates from the National Association of The Remodeling Industry (NARI)
A homeowner who refinishes hardwood floors for $3400 may recover $5000 more when the home is sold- that's 147% return on investment! A homeowner who spends $80,000 to add another bathroom may only recover around $50,000 at closing, a 63% return.
Two of the three interior projects that break even or better are flooring related: refinishing hardwoods(147%), adding NEW hardwood flooring (118%), and upgrading insulation(100%)
Using an experienced Realtor is an important step to getting the most money for your home when you sell it. There are lots of tools we can use to show you how your home's value compares to others and where to use those tools to your benefit. If you would like a complementary home evaluation by me, please feel free to reach out. I would love to create a property analysis for you! If you are considering buying in the next year, please reach out to me so I can assist you in preparing to purchase a home in the future!
CONTACT AUBRIE LAYNE FOR A COMPLEMENTARY HOME EVALUATION TODAY!
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