A house is not just a home; it is also an investment. And, like other investments, it requires upkeep to maintain and even increase its value. Repairs need to be made and improvements and renovations are required to stay current with design styles, trends and colors.
Some updates are extremely cost effective for resale; some updates are not. And some may simply be “necessary in order to comply with personal tastes, preferences and lifestyles of the current owner, without care for resale.
Regardless of the motivation, home updates have value whether it’s in enjoyment to the inhabitant or simply about increasing the price of one’s home.
This info graphic provides some guidelines on specific home renovations and how they relate to the return on investment. So, before starting on a home improvement, consider the ROI.
Infographic courtesy: personalincome.org