Which home remodeling projects are worth your money?
A continuing conundrum for home owners is, “which home remodeling projects are worth your money?” The answer can vary from year to year and season to season. U.S. News and World Reports says, “Even if you’re not planning to sell your home anytime soon, it’s an inevitable question when you consider remodeling: How much will this improvement add to the value of my home? Surprisingly, much of the time the answer is not as much value as it costs to actually make the improvement. But some home renovations bring you more bang for your buck than others.” Their article has good discussion of home improvement projects and lists the five renovations that give the highest percentage of returns and five that give the least.
Renovations that bring the greatest percentage return on investment:
- Entry door replacement: 96.6 percent
- Deck addition (wood): 87.4 percent
- Attic bedroom: 84.3 percent
- Garage door replacement: 83.7 percent
- Minor kitchen remodel: 82.7 percent
Renovations that yield the smallest return:
- Home office remodel: 48.9 percent
- Sunroom addition: 51.7 percent
- Bathroom addition: 60.1 percent
- Backup power generation: 67.5 percent
- Master suite addition: 67.5 percent