When it comes to redecorating projects with the greatest return on investment, kitchens & bathrooms always win! A minor kitchen reno, can get you an average of 70% cost recouped. This project includes replacing cabinet fronts, the appliances, and installing new counters, new flooring, sinks, and faucets.
A minor kitchen remodel may rank high on the Cost vs.Value Report in terms of return on investment, in reality, both kitchen and bath remodeling offer strong value. In fact, bath projects seem to be more popular, perhaps because homeowners are being cautious in their spending and remodeling these smaller spaces is more affordable.
Selected 2010 Cost vs Value Report Statistics - Nationwide Return on Investment:
Deck addition -- 72.8%
Major kitchen remodel -- 68.7%
Bathroom remodel -- 64.1%
New roof -- 59.5%
Family room addition -- 62.5%
Master suite addition -- 63.0%
Two-Story addition -- 65.0%
Basement remodel -- 70.0%
Source: 2010 Cost vs.Value Report, (REALTOR® Magazine, Jan. 2011).