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Best (& Worst) Remodels for Resale in Cincinnati 2018

Getting the Most Out of Your Home Sale

Everyone wants to get the most money possible out of their home when they sell. When we first begin thinking about selling our home, we often begin making lists of everything we think needs to be done. The reality is that there are a lot projects on that list that will cost considerably more than you think and return considerably less than you hope. Just because the recoup isn’t 100%, however, that doesn’t mean a project isn’t worth doing. Tackling some of these remodels (and avoiding others) could bring you a quicker sale when the sign goes in the yard. They can also make you stand out in your neighborhood when multiple homes are available.

The Cost vs. Value of Remodeling in Cincinnati

Best and Worst Remodels in CincinnatiIn Remodeling Magazine’s 2018 Cost vs. Value Report, data for Cincinnati, OH reveals that the average remodel recouped 58% of its cost. Some projects recoup their costs better than others; mid-range bathroom additions, for example, recouped an average of 53.9% while mid-range bathroom remodels recouped about 61.1%. Just a few years ago, those numbers were reversed. The extent, location and even timing of your remodel can affect your resale value.

To effectively determine the value of a large home improvement project, Cincinnati homeowners have a lot to consider. Owners planning to make full use of a remodeled room will get far more value out of it than someone looking to quickly “flip” a home. But unless you intend on spending the rest of your days in the same home, remodels should be partly viewed through the lens of resale value.

Just as buying a car known for its value retention is a good investment, investing in a home remodel that recoups its costs is wise. Reading a single report on the subject doesn’t equip a homeowner with perfect knowledge, but it enables them to make a more informed decision that can wind up saving them thousands of dollars. All of the following information is from Remodeling Magazine’s 2018 Cost vs. Value Report.

Top 5 Best & Worst Remodels for Resale Value in Cincinnati

5 Best Mid-range Projects

    • Manufactured Stone Veneer (exterior facade)

$8,191 Avg. Spend
96.1% of Cost Recouped

$10,704 Avg. Spend
75.3% of Cost Recouped

$21,002 Avg. Spend
74.9% of Cost Recouped

$1,476 Avg. Spend
69.5% of Cost Recouped

    • Bathroom Remodel

$18,854 Avg. Spend
61.1% of Cost Recouped

5 Worst Mid-range Projects

    • Backyard Patio

$53,742 Avg. Spend
39.4% of Cost Recouped

    • Major Kitchen Remodel

$63,216 Avg. Spend
51.9% of Cost Recouped

    • Bathroom Addition

$44,176 Avg. Spend
53.9% of Cost Recouped

    • Universal Design Bathroom Remodel

$16,245 Avg. Spend
54.2% of Cost Recouped

    • Roofing Replacement

$20,841 Avg. Spend
56.4% of Cost Recouped

Does Remodeling Increase Resale Value?

Yes, but the increase is rarely in proportion to the cost of the remodel. Small repairs are typically more cost-effective. If you are planning on putting your home on the market, even the National Association of Realtors recommends that you “spend as little money as possible.” Instead, they recommend that homeowners “focus on minor and inexpensive ‘polishes’ and ‘touch-ups.'”

Here are 4 great touch-up ideas for the bathroom:

  • Bathroom Plumbing: Inspect and repair plumbing lines and fittings. Replace the toilet, lavatory faucet and shower head to give the bathroom a “new, clean feel” for as little as $1000.
  • Bathroom Walls: Repair cracks in the drywall and paint the room in a neutral color. Wall repairs along with a fresh coat of paint can cost as little as $500 and can eliminate stains or mold growth and make the room appear and smell like new.
  • Bath Fixtures: Matching towel racks, paper dispenser and light fixture provide a consistent and modern décor to the bathroom. High quality, attractive fixtures may often be purchased and installed for under $500.
  • Bathroom Tile: Replace linoleum or worn wood flooring with a neutral-colored ceramic tile. An average-sized bathroom can have tile installed for under $1,500.

Combined, making these improvements before an open house can make a world of difference. Notice that none of the above recommendations call for a full remodel and instead ensure improving the interior appeal of your home to potential buyers. Any capable do-it-yourselfer can even While the national average cost for a bathroom remodel is about $18,500, a typical bathroom update with repairs like those described above can cost as little as $3,500. Both options can help get a home sold, but one – a bathroom update – offers a much higher return on investment than the other.

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Mid-range Vs. Upscale Remodels in Cincinnati

On average, mid-range remodels recouped slightly more of their costs than upscale remodels in Cincinnati. The difference is almost negligible, but given the inherent high cost of an upscale remodel, even half a percentage can represent thousands of dollars – dollars that a homeowner would no doubt prefer stay in their pocket. Bathroom remodels provide an excellent example. Upscale bathroom remodels in Cincinnati recouped only 54% of their costs while mid-range bathroom remodels brought back 61%.

The most important difference between mid-range and upscale remodels, besides cost, is the purpose behind the remodel. The reason a homeowner might be willing to pay twice as much for a remodel is because those costs are offset by the advantages and improvements to standard-of-living that a remodel can provide. Turning a child’s room into an office, for instance, may not positively affect a home’s resale value but instead simplifies the homeowner’s day -to-day and improves his or her lifestyle.

Whatever you decide as a homeowner know that money isn’t everything. Each homeowner’s situation and preferences are different; a remodel that may make sense for one won’t necessarily be a good idea for another. The important thing is to inform yourself as a homeowner and make the best decision to increase you and your family’s standard-of-living.

Let ProMaster Complete Your Remodeling Project

Once you’ve decided that a remodel is for you, why not hire an ethical and on-time craftsmen to complete it for you? For $79 you can invite a professional craftsman – not a subcontractor or salesman – to look over and evaluate your entire project or projects, providing options, ideas and costs. You don’t have to worry about the caliber of person your letting into your home; our craftsmen are extensively background-checked and drug-tested, and you’ll receive a bio, picture, and phone number to the craftsman you’ll be meeting before they ever set foot on your property.

Call (513) 322-2914 or use the “Reach Out” form below to schedule a Home Repair Hero to complete your remodel project!

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