Realtors, HGTV, and home magazines often quote numbers on the return homeowners receive on their home improvements. A 70% or 80% return on investment for kitchen renovations is a commonly quoted figure. Be careful, simplistic formulas placing values on renovations are misleading.
Tag: return on investment
How Much is a Kitchen Renovation Worth When You Sell Your Home?
Outdated and short-sighted formulas tout unreliable percentages on what a kitchen renovation is worth and on what percentage of the value of your home you should invest in a kitchen remodeling project. Real Estate websites, home improvement TV shows, and other sources quote returns on Investment, ROI’s, for a kitchen renovation between 30% and 80% depending on the renovation. Sadly, these formulas are overly simplistic and misleading.