Home improvements that pay you back

1. Remodeling the kitchen. 60%-120%

You can expect to recoup 60%-1120% of your invstment on a kitchen remodel, as long as you don’t go overboard. You should never make your kitchen fancier than the rest of the house, or the neighborhood.

 

2. Bathroom addition. 80%-130%

If your home only has one bathroom, you can recoup a large chunk of your investment by adding another one. It’s estimated that you can recoup 80%-130% of whatever your spend adding a bathroom.

 

3. Adding square footage. 50%-83%

Adding more square footage to your home with a new room can be an incredibly expensive project. However, you can typically recoup between 50% and 83% of your initial investment. Just make sure you keep costs under control.

 

4. Deck addition. 65%-90%

If you make your deck and your backyard more appealing, your house will be more appealing to prospective buyers when you decide to sell. Homeowners can recoup 65%-90% of their investment by adding a deck.

Enhanced by Zemanta

5 Home improvement projects to avoid

1. Gourmet kitchens with high-end accessories: Costly kitchen additions don’t pay off when you list your home for sale. In general, too much customization in a home turn buyers away.

2. Whirlpool baths: Potential buyers will not pay extra for a newly installed whirlpool bath. In addition, the costs for installing a whirlpool tub can be prohibitive and raise energy bills.

3. Home office remodeling: The average home office renovation costs around $28,000, and you will receive about a 46% return on investment for this pricey remodel.

4. Garage additions: Homeowners who build a garage typically only see a 62% return on an investment that costs tens of thousands of dollars. Not a good idea if you plan to sell soon.

5. Expensive landscaping: Creating an over-the-top backyard paradise won’t add to your asking price. So, if you plan to sell your home in the next few years, you won’t recoup the cost of expensive landscaping in the sale.

 

Enhanced by Zemanta