Florida Remodeling and Return on Investment

Remodeling your home can be a great way to adapt it to your current needs and avoid buying a new home. Although a remodeling project should be tailored to your specific requirements, it's also important to keep in mind how it may be perceived by future buyers. After all, your goal should be to increase your home's value. Here are a few things to keep in mind regarding Florida remodeling and return on investment.

Project Scale Matters

Any renovation can be completed at different scales. A kitchen, for instance, can cost from $10,000 to $100,000. Scale can be important. In some cases, an upscale project provides higher returns than a low-end one, and vice versa. It really depends on how desirable the added features are to potential home buyers. 

Spending too much on a renovation can be a mistake if the returns are not there. Spending too little can be a mistake as well if it fails to remain in good use for a long period of time. So, it really comes down to finding the right balance of cost versus return.

Florida Remodeling and Return on Investment

If you are limited in what renovations you can afford, remember that some features offer greater value than others. Remodeling Magazine provides a cost vs. value report every year on the Greater Orlando area. According to their 2018 report, the following Greater Orlando Florida remodeling projects provide the greatest return on investment. 

  • Garage Door Replacement 92.2%
  • Manufactured Stone Veneer 83.7%
  • Minor Kitchen Remodel 77.3%
  • Wood Deck Addition 75.8%
  • Midrange Universal Design Bathroom 67.9%
  • Siding Replacement 63.3%
  • Roof Replacement 62.8%

View Remodeling Magazine's 2018 Orlando Report for full details and a list of other types of remodeling projects. 

DIY or Hire

As you plan out your Florida remodeling project, you may be debating whether to do-it-yourself or hire a professional. If you do not have the experience, know-how, and skillset to DIY, then you really should consider hiring a contractor. A poorly completed renovation or one that does not comply with building codes can end up costing you more in the long-run. Some things are better left to professionals.

Florida remodeling projects can be expensive, so understanding and maximizing the return on investment should be important. With the right information, you can make wiser decisions on what projects to complete and how to complete them. The information above is merely a general overview and should not be construed as professional advice. Please contact a professional for more specific information for you upcoming project.

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