A question that we commonly hear from clients is which home remodeling projects yield the best investment. There are obviously a number of variables that can play into this equation, and not every home improvement project will end up adding value to your home.
That being said, popular home improvement projects in Central Florida include bathroom remodels and pools. Is one investment better than the other? If you're contemplating putting your money in any of these areas, let's take a closer look at the pros and cons of taking on these two home improvements:
Time and time again, putting your money into remodeling a bathroom has proven to be a smart decision for many homeowners. In fact, according to US News, the typical bathroom remodel will yield a 62 percent return on investment, making this one of the best rooms in your house to put money into.
The bathroom is one of the fastest rooms in your house to become outdated. Today's buyers want a property that they won't have to put a lot of work into, and a dated bathroom can be a big turnoff to someone that is looking for a turnkey home.
There are obviously a number of different improvements that can be made to a bathroom, but not all of these improvements will yield tremendous value. For homeowners wanting to revamp a master bathroom, be sure to include 2 sinks, a custom shower, and great lighting. For a home that features 3 bedrooms and 1 and a half baths, consider bumping out the size of the half bathroom so that a shower and tub can also be accommodated.
For Florida homeowners, adding a pool to the backyard can be a very attractive amenity for both you and future buyers of your property. However, when it comes down to adding value to your property, a pool actually yields one of the lowest returns on investment that you can make to your home.
The typical in-ground swimming pool will cost anywhere from $17,000 to $45,000+ to install, and you'll end up paying thousands of dollars more to keep the pool insured, secured, and maintained. While many luxury homes in Central Florida do include swimming pools, it may not be worthwhile to invest in one yourself if you don't plan to use it frequently.
If you do plan to install a swimming pool in your backyard, make sure that it is at least up to the standards of the other pools in your neighborhood. While pools are desirable features in luxury Florida homes, a pool that is not up to par with the competition can actually take away from the value of your home.
So, all in all, if you were going to put your money in one home remodeling project, a bathroom remodel is likely the better choice over an outdoor swimming pool. To learn more about smart remodeling improvements that you can make to your home, please feel free to contact us at Empire Custom Builders, an award-winning building and remodeling contractor located in Central Florida.