Originally posted at My IndyWaterfront Blog
Spring has arrived. As a result many Geist homeowners will consider whether to renovate their existing home or buy a new home in Geist.
Renovations are always good news. If you don't move you will enjoy the new look and feel of your home. If you eventually move it will increase the resale value of your home.
The question is how much!
Let me give you some examples of renovation costs and returns in the Geist/Indianapolis area. If you were to make a bedroom in the attic and spend $50,000 or so you could expect a 71% return. A major kitchen remodel (this would include cabinets, flooring, appliances and countertops) would be about $60,000 and would return about 60%. I've included a picture my kitchen after it was remodeled.
Renovation or remodeling that deliver less return would include things like a sunroom addition or a home office remodel. Those typically would return less than 50%.
Be sure to check out the complete remodel costs and returns list. If you need a couple of good names of contractors who do excellent work; I am your Geist Real Estate Agent resource! I can definitely give you some names for folks to interview.