As we are closer than ever to hitting a recession and house prices tumble further, it is a wise choice to line-up a home renovation and here’s why.
Statistics show that a Bathroom Remodel or a Universal Bathroom Design renovation will on average yield over 70% return on investment, which attributes to the home having better resale value and improved overall lifestyle. Different aspects of home renovation will however yield different potential return on investment and not all renovations are high yielding in value. A simple renovation of your front door or garage door for example will yield exceptionally, whilst a renovation for room addition(s) will perform poorly due to its associated cost of investment.
It is also important to remember that not all Bathroom Renovations are created equal. Your idea of a luxurious bathroom upgrade or over-the-top personalised finishings that add little practical value will provide poor return on investment. Instead, consider functionality and minimalistic appearance to appeal to a wider audience especially if you are planning to sell in the near future.
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