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Top 10 Renovations that Reap Returns on Investment
Making the most of your home improvement investments can be tricky, subjective, and sometimes - expensive. As a real estate professional, I’m often asked by potential sellers to price homes higher than market value based on the improvements that owners have made to the house. Unfortunately, I have to help sellers see that not all improvements are the same in terms of reaping a return. Why? In the eyes of prospective buyers - value can be all a matter of taste. Every year, we look to Remodeling Magazine to spotlight the best renovations for the money, and every year there are some tried and true favorites, and sometimes a few surprises.
Steel Entry Door Replacement Job Cost: $1,137 Resale Value: $974 Cost Recouped: 85.6%
Garage Door Replacement Job Cost: $1,496 Resale Value: $1,132 Cost Recouped: 75.7%
Wooden Window Replacement Job Cost: $10,708 Resale Value: $7,852 Cost Recouped: 73.3%
Vinyl Siding Replacement Job Cost: $11,192 Resale Value: $8,154 Cost Recouped: 72.9%
Basement Remodel Job Cost: $61,303 Resale Value: $43,095 Cost Recouped: 70.3% Wood
Deck Addition Job Cost: $9,327 Resale Value: $7,213 Cost Recouped: 77.3%
Minor Kitchen Remodel Job Cost: $18,527 Resale Value: $13,977 Cost Recouped: 75.4%
Attic Bedroom Addition Job Cost: $47,919 Resale Value: $34,916 Cost Recouped: 72.9%
Vinyl Window Replacement Job Cost: $9,770 Resale Value: $6,961 Cost Recouped: 71.2%
Major Kitchen Remodel Job Cost: $53,931 Resale Value: $37,139 Cost Recouped: 68.9%
If your property is now listed with a REALTOR® or Broker, please disregard this offer, as it is not our intention to solicit the offerings of other REALTORS® or Brokers. The information contained herein is deemed reliable but is not guaranteed. ©ProspectsPLUS!, Inc. www.prospectsplus.com
These project values are based on a national average. What’s interesting to see is how home improvement values break down even further on a regional level. Thinking of making improvements? Use their handy calculator today at http://www.remodeling.hw.net/cost-vs-value
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