The Importance of ROI (Return on Investment) When Remodeling

Your guide to starting a kitchen or bathroom remodel

Planning on kicking off a kitchen or bathroom remodel in the next few months? If so, you probably already have a vision for the project—you just need to plan it out. This is where the proverbial rubber really meets the road. You’ll need to find materials, line up contractors, and answer that all-important question: just how much is this going to cost me? Remodeling isn’t easy, and that’s where we come in!

In this article, we’ll review how to find high-quality materials, how to maximize your ROI, and why you should talk to an experienced remodeling professional.

Focus on your return

Most homeowners have two objectives when remodeling their kitchen or bathroom. First, they want to complete a transformative project that revitalizes the space and their home. Second—and perhaps more importantly—they want to add long-term value to their home. If that’s your priority, then everything you do and plan needs to be seen through the lenses of ROI.

Simply put, your ROI is how much value you add to your home compared to how much you spend to add that value. One of the reasons why kitchen and bathroom remodels are so popular is because of their relatively high ROIs: homeowners, on average, see an 80.5% return on kitchen remodels and a 70.1% return on bathroom renovations. To beat the average—and get a better return—you’ll need to find ways to minimize your upfront costs without sacrificing quality.

Invest in high-quality materials

In your kitchen, buying high-quality countertops, cabinets, and appliances is worth it in the long run. High-quality materials hold their value longer and are far more appealing to prospective buyers down the road—which is what you’ll need if you want your project to pay off. The more money you invest in materials, the better your kitchen or bathroom will ultimately look. In particular, luxury kitchen and bathroom remodels can generate significant interest in your home! Professional remodeling companies, such as ours, can help you decide on which items are worth significant investment, and which you shouldn’t splurge on.

Of course, that’s not the only benefit of working with a pro. Let’s explore this idea further.

Plan on working with professionals

Many homeowners start their remodel with an ambitious plan to do everything themselves. This typically falls apart, even for the handiest of homeowners. First, your time is more limited than you might think: if you only have a few hours every Saturday to commit to remodeling your kitchen, that means your kitchen is going to be half-finished—and therefore unusable—for several months while you slowly chip away at the project.

Homeowners also lack the experience and tools needed to complete certain tasks. Sure, you can lay your own snap-and-lock vinyl flooring. But, are you prepared to slope your shower floor? A professional is better suited to helping you complete plumbing installation work, including installing new sinks, toilets, bathtubs, and more.

If you’re currently planning a remodel, talk to our team here at Advantage Design + Remodel. We’re experienced and helpful home remodelers, right here in Southeastern Wisconsin! Our team is a great resource. We can meet with you to review your project, plan out your remodel, and find high-quality, long-lasting materials for your new kitchen or bathroom. We’d love to chat with you about your vision for your home, so that you can Love Where You Live!

For more great tips on planning a kitchen or bathroom remodel, check out this helpful infographic.