You don't want to spend more than 10 to 15 percent of your home value on a single room. If you spend more, the value of the renovation won't increase the value of your home proportionately. Take a look at the latest data on how much the average homeowner spends upgrading their kitchens. If you are going to buy a repair device, you would obviously spend more as a percentage of your total house and vice versa.
Others go into even more detailed details and break down how much you should spend on each room in the house (e.g., the amount of money you spend on remodeling your home also depends on the purchase price of your home and comparable properties in the neighborhood). The key is to always think in terms of spending a fixed amount on remodeling based on the percentage value of the property. The more you spend on remodeling as a percentage of your home's value, the greater the risk that you won't get back the money you invested in remodeling. The big question all homeowners ask themselves when it comes to remodeling is how much they should actually spend to increase their chances of not only getting their money back, but also of earning a positive return if they decide to sell.
You'll also want to spend money remodeling the right things so that more potential buyers will appreciate the remodel. It might make more sense to upgrade these rooms, rather than adding a home office or spending a lot of money renovating a pool area. So, here's a general guide to how much to spend on remodeling based on the value of your home. By doing this, instead of guessing for yourself, you could be more sure what your current home is priced at and whether it's worth spending a lot of money on.
