Getting Your Home Ready To Sell ?
Here are the returns you can expect from your renovations
Type Of Renovation
|
Cost
|
Expected Return as %
|
| Paint |
$700 |
200+ |
| Add a Bathroom |
$10,000 |
96 |
| Add a Fireplace |
$4,000 |
94 |
| Kitchen Renovation (minor) |
$8,500 |
79 |
| Kitchen Renovation (major) |
$24,000 |
70 |
| Bathroom Renovation |
$7500 |
69 |
| Add a Skylight |
$4000 |
68 |
| New Siding |
$7,500 |
67 |
| Add Insulation |
$1,750 |
65 |
| Addition |
$35,000 |
62 |
| New Roof |
$4,600 |
61 |
| Deck |
$6,000 |
60 |
| Greenhouse Addition |
$17,000 |
56 |
| Replace Windows /Doors |
$12,000 |
55 |
| Add a Swimming Pool |
$24,000 |
39 |
Renovation Average Cost Resale Recovery
Source: National Association of the Remodeling Industry.
At a glance, you can immediately see that there are some things that will get you a superb return on your investment when you sell your home. If you do some painting, add a bathroom or fireplace you'll see a good return.
If you renovate your kitchen you'll still see a good return, but only you can decide what you do before trying to sell your home. As an example...adding a swimming pool just before selling is not a good idea.
We were recently asked which home renovations would add the most value to any home, and our answer was that we would chose to renovate the kitchen, followed by the bathrooms in your house. 9 other Real Estate Experts contributed to this excellent article about the Ultimate Value Adding Reonovations
There were real estate agents, designers and TV personalities who gave their input!
