The following information is from a national real estate marketing publication. It
should be used only as a general guide to ranking the importance of these improvements.
Many factors will affect the appraiser's opinion of these improvements including,
location, value range of home, market trends, age of home and quality of improvement.
Percentage of your investment that is recouped at resale:
| 150% |
Remodeled Kitchen
A kitchen update can reward a seller with a sizable payback. Just remember though;
splurging on fancy finishing materials or sophisticated equipment may cut into your
profit. Keep it simple. |
| 100% |
Revitalized Lawn and Garden
A verdant lawn and a modest but colorful flowerbed will entice potential buyers. The few
hundred dollars invested may yield several thousands in profit. |
| 100% |
Fireplace
Especially if it is energy efficient, such as a gas-powered model, a fireplace holds the
promise of cozy family gatherings around the warmth of the hearth. |
90%
|
Second Bath
All it takes is a simple 5x9 foot extra bath to make mornings more civilized for most
families. But don't count on a return on extras like a heat lamp or whirlpool tub. |
| 80% |
Room Addition
For the most attractive return of your investment dollars later on, the added room should
be today's popular family room or a third bedroom. |
| 60 - 80% |
Remodeled Bath
A master bath is on many buyer's list, so invest here. If you own only one bath, install
two sinks or a double vanity to handle the morning crowd. |
| 70% |
Expanded Master Suite
To keep costs down, try to find extra space to create this wish list item by combining
existing rooms and spaces. Heavy structural work entailed by adding square feet diminishes
your return. |
| 70% |
Deck
Outdoor living space is a desirable asset no matter where the locale. No maintenance
decking material leaves lots more leisure time, too. |
| 50% |
Exterior Paint
Sprucing up tired siding, trim, etc., can take years off the look of an older house. |
| 50% |
Finished Attic
You can expect to recoup more of your investment if you make sure the renovation does not
detract from the aesthetics of your home. It is especially attractive as an extra bedroom
in a small house. |
| 40% |
Finished Basement
This is a great way to gain added living space without building a costly addition. If the
basement has an access door to the outdoors, the project becomes more valuable. |
| 40% |
Heating Systems
Replace it only if your old system is dysfunctional. Depending upon a buyer's priorities,
a new energy efficient furnace may or may not be a selling advantage. |
| 35% |
New Windows and Doors
Buyers appreciate changes that improve the look of a house, so attractive new French
doors, for example, may be a plus. Energy efficient units are an ecological boom, but may
be a resale bust. |
| 30% |
Garage
Don't go overboard to blend it into your home's architectural style. Its desirability
increases if you live in a part of the country with a harsh climate. |
| 0% |
Swimming Pool
Unless you live where the sun always shines, such as Southern California, this luxury item
can detract from your resale profit. |
