Many
homeowners are turning to home improvements
(in place of buying a new home) as a way
to get the "livability" they want
out of the home they’re in. Others
use home improvements as a way to make the
house they’re trying to sell more valuable
in a buyer’s mind. Whatever your reason
for investigating home improvements, you
need to know the return to expect from your
investment.
Percentage of investment recouped at resale*
150%
REMODELED KITCHEN A kitchen update can be very profitable.
Be careful not to splurge. Keep it
simple.
50%
EXTERIOR PAINT OR
VINYL SIDING Adding or
replacing siding and painting the
trim can make your house look almost
new again.
100%
LANDSCAPING
A nice lawn with a colorful flower bed will provide "curb appeal."
The few hundred dollars invested may yield several thousands in profit.
50%
FINISHED ATTIC Expect more from your investment
if the renovation does not take away
from the looks of your home. This
improvement adds more if it adds an
extra bedroom in a small house.
100%
FIREPLACE
A good investment, especially if it’s energy-efficient, such as a
gas-powered model.
40%
FINISHED BASEMENT
This improvement provides additional
living space without a costly addition.
If the basement has an access door
from the outside, the project becomes
more valuable.
90%
SECOND BATH
This is not seen as an "extra"
anymore, but a must have for buyers.
40%
HEATING SYSTEM
Replace it only if your old system
doesn’t work. Depending on what
your buyer’s interests are, a
new energy-efficient furnace may or
may not be a selling point.
80%
ROOM ADDITION
For the most out of your investment
dollars, this should be either a family
room or a third bedroom.
35%
NEW WINDOWS AND DOORS Buyers appreciate
changes that update the look of a
house. Energy-efficient windows can
add a lot of resale appeal.
75%
REMODELED BATH A master bath is big among buyers
now, so put your money here. If there’s
only one bath, install two sinks or
a double vanity to handle the family’s
morning routine.
30%
GARAGE
Its value increases if you are in
a part of the country with a harsh
climate.
70%
MASTER SUITE
To keep costs down, try to find extra
space if you’re interested in
this improvement. By combining existing
rooms and spaces, you’ll eliminate
the major structural work that can
diminish your return.
?%
SWIMMING POOL
Depending on where you are in the
country, this luxury item may or may
not affect resale profit.
70%
DECK A deck provides a place for entertainment
and family time, which is popular
among today’s buyers.
?%
SKYLIGHT OR ROOF
WINDOW It’s hard
to estimate how this renovation may
affect profit upon resale. Consider
how an operable skylight or roof window
may improve an area that is otherwise
dark or underventilated.
*Rates of return will vary depending upon area
of the country and trends.
