Anytime time you embark on a remodeling or renovation project there are some things you need to focus first.

1.  How will you pay for it?  It may take some time to work through the process if you are going to finance it.  
2. Will it be worth it when you are all done?  Some things won’t have a monetary value.  You may decide you don’t want to live with a too small kitchen or a bathroom that is pepto bismol pink and blue. It’s difficult to put a price on the enjoyment of your home while you are there
3. Will you need to move out while doing the renovation?
4. Will you get a high return on investment? 

Take some time and think it through  

It’s worth your time and effort to do your research first and carefully consider any home improvement project, especially if you’re banking on recouping some of the cost when you sell your home. It will also save you time and money if you have things thought out before meeting with any contractors. It will be harder for them to upsell you if you have thought this through.

Upscale vs. Mid-Level Projects

Historically kitchen remodels have given one of the highest ROIs.  Mid-range kitchen updates are still high on the list but high end jobs don’t fare so well. You may choose to make those high end changes for your own pleasure and they may be more appealing to potential buyers but you might not see that value in resale prices

Cost vs Value Report

If you check out Remodeling magazine’s Cost vs. Value Report  it will detail which projects will give you the best return for you dollar.

The report covers the average cost of 22 remodeling projects and their average resale value one year later. Mid-range projects tended to do better than upscale ones..

However, you never want to be the best home on the street and price yourself out of your neighborhood.  Always keep that in mind or you may face a loss when it does come time to sell.