Which Home Improvements Add Value To Your Home?

by on May 8, 2009

With many homeowners deciding to stay in their homes, rather than moving, I thought it would be a good idea to point out which home improvements provide the best return on investment.

What follows are best estimates for the most typically consistent remodeling projects I have seen across the country. Unless otherwise noted, the maximum time between remodeling and re-sale must be 5 years; otherwise the value-added figures are void.

Kitchen:
Low: $15,000
Includes: new cabinets
High: $20,000+
Includes: counter-tops & re-wiring, structural changes, relocating plumbing, custom cabinetry & top-of-the line appliances.
Return on Investment (ROI) – 80% – 110%

Bathroom:
Low: $7,500
Includes: new fixtures
High: $10,000
Includes: tile floor, re-piping
Return on Investment (ROI) – 80% – 115%

Room addition:
Low: $30,000
Includes: Family/Bedroom
High: $40,000
Includes: Master Suite (don’t forget to add the cost of bath) will add much more value to a home than a private office or 4th bedroom
Return on Investment (ROI) – 50% – 110%

Converting an attic, basement:
Low: $10,000
Assumes no structural change
High: $15,000 & up
Return on Investment (ROI) – 25% – 40%

Adding a deck
Low: $5,000
The warmer the climate, the better the value
High: $10,000 & up
Value added:  size of deck, complexity of design and added amenities (spa, trellis work) influence cost.
Return on Investment (ROI) – 40% – 60%

Re-painting
Low: $1,200
High: $1,500 & up
Return on Investment (ROI) – 40% – 60%

Source: Home Remodeling Magazine

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