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KellyZitlowgroup

KELLY ZITLOW, NMLS 164330
Vice President, Certified
Planning Mortgage Specialist®
Certified Instructor


Office: 480.725.0150
Cell: 602.561.6760
Fax: 866.308.2074
KellyZitlowGroup@houseloan.com 

Renovation Home Loan

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Maybe you’ve found a fixer-upper in the perfect neighborhood. Or you want to update the home you’ve lived in for years. You see the potential, but aren’t sure how to pay for the costs. A renovation loan maybe just the thing you need for that home that needs a little TLC.

Boost your home’s value with renovations that are worth the effort and cash. Here are a few of the top projects that could give you the most value in the long run.

PAINT: Generally considered the top upgrade that a homeowner can make for the least cost.

 

Average Cost: $976 - $2,722
Average Return: Varies – Blue rooms could increase sale price by $5,440

FLOORING: Industry specialists recommend choosing new and neutral flooring.


Average Cost: $1,508 - $4,276
Average Return: Hardwood – 70% to 80%

KITCHEN: A good first step would be to refinish hardwood floors, cabinetry, walls, windows, woodwork, and counters. If budget permits, replace fixtures and hardware to round out your finishes.

 

Average Cost: $21,198 - $63,829 (Remodel, Non-Upscale)
Average Return: 59% - 81.1%

BATHROOM: Investing some money into refreshing the look of your bathroom could help increase your home’s value and may be a big selling point.

 

Average Cost: $19,134 (Remodel, Non-Upscale)
Average Return: 70.1%

LANDSCAPING: Attractive landscaping like trees and shrubs can boost value to about 15% compared to homes without well-maintained landscaping.


Average Cost: $1,446 - $5,317
Average Return: 105% to 303%

The following sources are deemed reliable but not guaranteed:
https://www.homeadvisor.com/cost/painting/paint-a-home-interior/ | https://www.zillow.com/blog/blue-kitchens-sell-for-more-216631/
https://www.homeadvisor.com/cost/landscape/install-landscaping/ | https://www.nar.realtor/sites/default/files/reports/2016/2016-outdoors-remodeling-impact-report-09-27-2016.pdf
http://www.remodeling.hw.net/cost-vs-value/2018/ | https://www.homeadvisor.com/cost/flooring/install-flooring/
https://www.realtor.com/advice/home-improvement/will-hardwood-floors-provide-a-good-return-on-investment/