Wednesday, April 16, 2014

So How Much is Your Planned Renovation Going to Add to the Value of Your Home?


Remodeling projects make life more pleasant and more beautiful. But you're not likely to get your investment back when you sell. Lower-cost projects, like enhancing curb appeal, are more likely to pay for themselves

Other projects that provide a good return, according to The Wall Street Journal:

Replacing siding with fiber-cement panels can return 79.3 percent of project cost.

Replacing a garage door recoups 75.2 percent of costs, on average.

Master bedrooms, gourmet kitchens and fancy bathrooms generally recoup less than 60 percent of their costs.

A National Association of Realtors survey of more than 3,900 appraisers, sales agents and brokers provides these other estimates:

Installing insulated vinyl windows earns back 71.2 percent.

A deck addition brings back 59.7 percent of costs.

A new roof will return 56.7 percent of costs, while building a garage brings about 54.7 percent of costs at selling time.

Expensive master-suite additions pay off with only a 52.1 percent return.

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