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Top Remodeling Projects - Cost vs. Value

If you are planning to stay in your current home or looking to do some spruce ups to be prepared to sell, homeowners want to know what will give them the most bang for their buck so to speak. Having a major system that is not in good shape will hurt the value of a home, such as a leaky roof, or an older or non-functioning heating system. Ensuring that these systems are in tip-top shape does not have the highest payback, but, if they are in need of help, they will drive your price down. For example; roofing in the New England Area,  a homeowner can expect to see a return on their investment 54.6%, but a home needing a roof could cause the buyer to negotiate for an amount higher than the cost of replacement.

Being careful that all remodeling projects fit in with the surroundings is important. Before you decide to put on an addition that will make your home larger and more impressive than the neighborhood can support may not be a good idea. However finishing a basement, while it may not have the highest return, would add needed living space and give a bigger return than an unwise addition.  The same applies for converting attic space to living space.

Adding a marble bathroom to a home that is mostly carpet and vinyl may not be the best choice, when a more mid-range option is available. Upgrading to a mid-range tile, perhaps adding a cabinet package available at home improvements stores, with cabinets, solid surface top, and faucet for around $500 may be the better option. And, remember you can never go wrong with a fresh coat of neutral colored paint.

So all in all think smart.  Looks that are new and well cared for yield higher returns than going the extra mile for the higher end.  So, save some money and reap a larger return!