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 some of the
results:
Replacing a main entry door 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.
Adding a new deck also adds a lot of value. Depending on the materials
used, you can expect to get back three-quarters of the money invested.
Another high-payback project is the garage door. This once again
demonstrates the importance of a home’s “curb appeal.”
If you’re tackling a big project, such as a basement renovation, you’ll be
glad to know that, according to the study, a project like this adds a lot of
value.
Finally, minor improvements to 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 today.