Projects that Boost Resale Value and How to Preserve Equity in your Greatest Investment... Your Home!
Dear Readers,
First off, thank you for all the love on this newsletter. It really makes me happy to know how many people read this and get something out of it. Remember that we build and project manage as well as we write (if not better!). So please keep us in mind for upcoming projects!
Now down to it. Let's talk about about ROI on home improvements. Who doesn't love making good choices with their money right?
Kitchen projects specifically earn a return on investment of more than 72%, according to the latest Cost vs. Value report from Remodeling Magazine. This is a very very cool article that breaks down what you can expect to recoup on various projects. Please click here to check it out! And then come back and read what else I have to say because I'm just getting started!
It is more common than not to be startled by what it costs to remodel a kitchen, or anything for that matter. With extreme inflation, Covid supply chain madness, and everything else that's going on construction has become a big ticket item.
That being said, I think the sticker shock and the fear around spending hard earned cash on remodeling projects is not new. This is an age old tale. Even the uber wealthy can get on high alert when reviewing an estimate and coming to terms with the costs of their dreams.
It's important to remember that the #1 cause of equity loss in a home is deferred maintenance. So when you are dumping money into your home and the bank account is taking a hit, try to remember that you are transforming that money into a new form. Home ownership creates generational wealth and without proper care and maintenance it can leave a lot of stress for the next generation to deal with. So much so that people end up selling homes leaving a huge amount of money on the table due to an outdated and failing structures.
When embarking on the investment of a remodel money changes form from a number in your bank account that used to be large, to a number that is now much smaller. That can be psychologically difficult and stressful for most people. Try to keep in mind that the decrease in bank account balance has morphed into something that feels like a cost, but in all actuality is an investment with a quantifiable return. Most home improvements have massive return on investment. The return on home improvements is astonishing really. You can't reliably find that kind of ROI in the stock market most of the time.
Lastly but not leastly we have finally put up the beginning of our gallery on our website so you can check that out by clicking here. Links to previous articles I've written can be found in our permanent collection on our blog by clicking here.
Please keep us in mind for any of your upcoming projects, we LOVE referrals and appreciate your support so very much. Thank you !!!
The Kellow Construction Team
