Do you have a renovation project in mind – and wonder how much value it will add to your home? Remodeling Magazine recently did a study of renovation projects, comparing costs to added value. Here are the Top 5 results:
1) Replacing a main entry door. This has a return on investment of over 95%. After all, the entrance to a home is one of the first things a prospective buyer notices.
2) Adding a new deck. Depending on the materials used, you can expect to get back three-quarters of the money invested.
3) Replacing or installing a Garage door. This once again demonstrates the importance of a home’s “curb appeal.”
4) Basement renovations create a lot of value because of the additional room it can create. One can use the basement for guests, recreation or revenue.
5) Bathrooms and kitchens – such as adding new countertops or cupboards, can also be good investments that mostly pay back when you sell your home.
Of course, these figures are averages and can vary widely depending on location, type of property, and other factors.
Need help determining how a particular home improvement might impact the selling price? Call me today to discuss.Posted by Tony Cikes on