Which Home Improvements Pay Off at Resale?

Posted by on Apr 14, 2017 in Writing | No Comments

One question I get a lot is about the return on investment from home remodels. Property owners should always be thinking of resale value, and there are so many things that create value and others that seem like they would but don’t. Sometimes, it’s just the right thing to do to improve your property for your own enjoyment, and not worry about the return.

Realtors will tell you, generally speaking, that the best return comes from kitchens and master bedrooms, along with everything that goes to the first impression: Fresh paint, carpet or flooring, landscaping, a great looking front door. A new front door, according to the NAR report, will consistently bring back what you pay for it.

Decisions about spending money for remodeling or updating are great to run past your Realtor. Because we see new homes frequently, we stay up on trends. We work with buyers regularly, so we see what buyers prefer in homes. Your decisions might need to vary depending on how soon you plan to put your home on the market. Your Realtor can help you make wise choices that will assure you get the return on your investment.

Here is a list of the Top Mid-Range and Upscale Projects:

Mid-Range Projects:

  Job Cost Resale Value Cost Recouped
Attic Insulation (fiberglass) $1,326 $1,600 120.70%
Manufactured Stone Veneer $7,968 $8,375 105.10%
Basement Remodel $64,343 $65,000 101.00%
Entry Door Replacement (steel) $1,338 $1,120 83.70%
Deck Addition (wood) $9,287 $7,625 82.10%
Garage Door Replacement $1,599 $1,220 76.30%
Family Room Addition $80,340 $59,000 73.40%
Minor Kitchen Remodel $19,316 $14,000 72.50%
Two-Story Addition $167,164 $118,833 71.10%
Master Suite Addition $110,197 $73,750 66.90%
Bathroom Remodel $16,342 $10,650 65.20%
Major Kitchen Remodel $58,536 $36,250 61.90%
Siding Replacement $13,584 $8,400 61.80%
Roofing Replacement $19,097 $11,000 57.60%
Backyard Patio $47,937 $26,000 54.20%
Deck Addition (composite) $16,193 $8,125 50.20%
Entry Door Replacement (fiberglass) $3,206 $1,500 46.80%
Bathroom Addition $39,109 $17,000 43.50%
Backup Power Generator $12,305 $4,500 36.60%

Upscale Projects:

  Job Cost Resale Value Cost Recouped
Garage Door Replacement 3,259 2,750 84.40%
Grand Entrance (fiberglass) 8,159 6,200 76.00%
Universal Design Bathroom $13,965 $10,000 71.60%
Major Kitchen Remodel 117,240 82,000 69.90%
Window Replacement (vinyl) 14,767 10,200 69.10%
Master Suite Addition 236,186 154,400 65.40%
Window Replacement (wood) 18,013 11,000 61.10%
Deck Addition (composite) 36,478 21,000 57.60%
Bathroom Addition 76,092 38,333 50.40%
Bathroom Remodel 56,234 22,500 40.00%