| Some remodeling jobs
add value to your home; some actually decrease the marketability. Which are the most cost
effective in terms of return on investment when you sell your property? According the the National Association of
Home Builders, improvements that yield the highest return are:
Minor
kitchen remodel |
104% |
Kitchen remodeling can really pay off! |
| Bathroom addition |
98% |
| Major kitchen
remodel |
95% |
| Master suite
conversion |
91% |
| Family room addition |
88% |
| Attic bedroom
conversion |
84% |
| Bathroom remodel |
82% |
| Exterior remodel |
75% |
| Deck addition |
72% |
| Sun space addition |
67% |
| Home office addition |
59% |
In
planning your remodeling project, just remember that the above figures may not apply to
your particular job. Don't go overboard with gold plated faucets if you expect to recoup
98% of the cost of your new bathroom. Conversely, don't expect a yield as high as 98% if
you install a fiberglass tub surround and the least expensive fixtures you can find.
Family rooms and home office projects in basements are far less appealing than those built
above ground.
The most common improvement that
actually detracts from a property's marketability and value is a swimming pool. Many
potential buyers look at a pool and see nothing but expense of upkeep and danger to small
children. In fact, some buyers who would otherwise love your home won't even look at a
property with a pool. Their reaction: "It would cost too much to fill it in and
landscape the area!"
 When you get ready to sell your home, be
realistic about the desirability of the improvements you have made. Sometimes a minor face
lift is all that is needed for increased marketability and a faster sale, but not
necessarily a higher price. If you are in doubt, have a professional appraisal or consult
your REALTORŪ for an honest opinion.
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