The Money Pit
Home Improvement Tips & Podcasts
My oldest child has recently moved out and my wife and I find ourselves alone in our empty nest after almost thirty years in this house! We’d eventually like to move to a smaller home but for the next few years,…
It definitely pays to consider projects carefully and invest in those that’ll deliver immediate enjoyment as well as a strong return on investment down the line.
Before entertaining design dreams or making a move toward the local home improvement center, wise empty-nesters should browse Remodeling Online’s Cost vs. Value Report, which provides recent data on popular improvements and corresponding costs recouped, according to U.S. region. Project scales, elements and costs are included among the categories, and can help you judge just how far to go with your plans.
For instance, a Major Kitchen Remodel may be a tempting empty nest home renovation project, especially when you see that 78.1 percent of the cost could be recouped at selling time, but the less-is-more route of a Minor Kitchen Remodel actually nets a higher return on investment at 83 percent.
Whether a master suite, spa-like bath or home theater is in the works, keep future needs and a future sale in mind. In other words, avoid anything that’s too dramatic design-wise, too personalized to appeal to the general home-buying public, or reconfigurations that subtract precious living or storage space. Neutral color schemes maintain home value and help make sure that your empty nest home renovations are appreciated by any potential future home buyers.
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