Will the Improvements You Make Pay Back?

Important question! When getting ready to sell their home, most people start to question the value of making improvements to their home.  Which improvements will pay back?

Project

Cost

Average Payback

New heating or air conditioning

$2,000 - $4,500

100% for heating and 75% for air conditioning

Minor kitchen remodeling

$2,000 - $8,500

94% to 102%

Major kitchen remodeling

$9,000 - 25,000

90%

Adding a bath

$5,000 - $12,000

92%

Adding a family room

$30,000

86%

Remodel the bathroom

$8,500

77%

Add a fireplace

$1500 to $3,000

75%

Build a deck

$6,000

73%

Remodel a home office

$8,000

69%

Replace windows

$6,000

68-74%

Build a pool

$10,000 +

44%

Install or upgrade landscaping

$1500 - $15,000

30-60%

Other issues that can affect the payback value include:

* Kitchen and bathroom remodeling projects consistently return the most in resale value.

* Sometimes the cumulative effect of smaller projects like fresh paint, ceiling fans, and new doors can pay back in resale more than a single larger project of approximately the same cost.

* Trends affect value. Be careful to check out what new homes are doing before you start your remodel.

* Cost of the improvement can vary from area to area. If remodeling costs are high, you may not recoup as much. Be careful to hire a reputable contractor when you consider a remodel on your home.

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