Kitchen and Bath Remodels Increase Home Value
Popular media and industry publications often analyze the return on investment of a kitchen and/or bathroom remodel. Remodeling 2015 Cost vs. Value Report, conducted by Remodeling, found that on average, a homeowner can expect to spend approximately $16,700 on a midrange bathroom remodel and will recoup approximately 70% of the cost at resale.
The average cost of a midrange kitchen remodel is almost $57,000, and a homeowner can expect to recoup approximately $38,500 of that cost when they sell their home. Bath and kitchen remodels increase home value, and homes with renovated kitchens and baths tend to sell faster than those that need updating.