Your home is likely the biggest purchase you've ever made. As your most valuable asset, any amount of time, money, and energy you put into it is a serious investment. As with any investment, it's important to understand what kind of return to expect. This is especially true when it comes to remodeling or renovating your home. While there will be an initial expense, the value that it adds to your home can mitigate much of the cost. Of course it depends on your budget and plans as to how much of the cost of the update can be recouped. The infographic below compares both the cost of a remodel based on room and size in south Louisiana to the national average, as well as the estimated resale value of that update.
*Midrange bathroom remodel example - Update of an existing 5x7-foot bathroom, replacing all fixtures, installing a 30x60-inch porcelain-on-steel tub with a 4x4-inch ceramic tile surround. A new single-lever temperature and pressure-balanced shower control will be installed, along with a standard white toilet. A solid-surface vanity counter with integral sink, a recessed medicine cabinet with light, ceramic tile floor, and vinyl wallpaper are also included.