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Some residential real estate projects may be lucrative

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

Before selling their homes in Florida, some homeowners may naturally wonder whether they should update their houses or sell the properties as is. For example, would upgrading a kitchen lead to a better sale? What about the bathroom? Let’s take a glimpse at some common residential real estate remodeling projects and whether they generally provide good or poor returns on a homeowner’s investment.

For starters, the kitchen may cost nearly $70,000 to fully update. When it comes to resale, though, researchers reported that homeowners generally recoup less than 60% of their investments. The same is true for bathrooms, where remodeling projects may cost half as much but yield a return on investment of less than 60%.

For homeowners who are thinking about turning either their attics or their basements into livable spaces, the basement is usually the smarter choice. Why? Because basement renovations are typically more cost effective than attic ones and still produce greater profits. However, out of all of the home projects that a homeowner may complete, installing a brand-new roof appears to be the most lucrative one. According to research, homeowners could very well recover 107% of the money they put into new roofs when they sell their homes.

Just as dealing with remodeling can be challenging for homeowners looking to sell, figuring out the legal aspect of a residential real estate transaction can seem daunting. However, an attorney in Florida can walk homeowners through the sales of their homes, making sure that their rights are not violated during their transactions. The attorney’s main aim is to make sure that clients’ best interests are protected from the time that they decide to sell their homes to the moment they reach the closing table.

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