Profitable Home Renovations - KALB-TV News Channel 5 & CBS 2

Profitable Home Renovations

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PINEVILLE, La. (KALB News Channel 5) For the first time in 6 years, CenLa home owners are seeing return investments from renovations done to their properties.

"You want when somebody walks into the house, that they feel like they won't for the next one or two years, hopefully they won't have to do anything. That is the point you want to get the house to. Whether you are going to flip it or you are going to put it on the market for sale or if you just want to stay there," said Paige Walker.

Central Louisiana home owners can experience an increase in property value with the right renovations.

"Kitchens are very important. It wants to when somebody walks in you want them to say wow. To give you an idea, when we finish this project, they will see about a 110% return on the dollar that they spent," said Paige Walker.

"An average return on a remodel of a bathroom is about 65% on an average nationwide. So you are going to re coop some of your money back," said Paige Walker.

Minor touch ups can also be done to improve the overall look and value of a home.

Home owners can paint the interior neutral colors, add crown molding, replace hardware and coordinate lighting fixtures

Along with interior renovations, installing energy efficient windows can increase a home's value while decreasing the electric bill.

"National statistics on windows is about 71% return, and that is not including the money that you are going to save as far as utility costs. So that is a really good investment," said Paige Walker.

As the Central Louisiana economy continues to grow, realtors say they are confident the market will continue to climb.

"We have people every day that are calling us that are moving here with new jobs. I think CenLa is growing. A lot of people are moving up. So they are moving from one sub division that might be 100 to 125 thousand and moving up to 175 thousand dollar house. With the interest rates where they are, I mean it is a great time to buy," said Paige Walker.

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