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Home Improvement Values
If you're thinking about home improvement, remodeling, or putting on an addition, adding a bath or perhaps just a skylignt - read on. It might help you make (or unmake) the decision.
Remodeled Kitchen
A kitchen update can reward a seller with a sizable payback. Just remember, though, splurging on fancy finishing materials or sophisticated equipment may cut into your profit.
Expected return at resale: 150%
Revitalized Lawn & Garden
A verdant lawn and a modest but colorful flowerbed will entice potentials. The few hundred dollars invested may yield several thousands in profit.
Expected return at resale 100%
Fireplace
Especially if it's energy efficient, such as a gas-powered model, a fireplace hold the promise of cozy family gatherings around the warmth of the hearth.
Expected return at resale: 100%
Second Bath
All it takes is a simple 5 x 9 foot second bath to make mornings more civilized for most families. This is not an "extra" anymore, but rather a must have for buyers.
Expected return at resale: 90%
Room Addition
For the most attractive return on your investment dollars later, the added room should be a family room or an additional bedroom.
Expected return at resale: 80%
Remodeled Bath
A master bath is on many buyers' wish lists, so invest here. If you have only one bath, install two sinks or a double vanity to handle the morning crowd.
Expected return: 60 to 80%
Deck
Outdoor living space is a hugely desireable asset no matter where you live. No-maintenance decking material leaves lots more leisure time, too. If you are putting on a deck to sell the house, keep to the basics.
Expected return: 70%
Finished Basement
This is a great way to gain added living space without building a costly addition. If the basement has access to the outdoors (a walkout), the project becomes more valuable. Note, a finished basement will not be counted by an appraiser as an additional room in most cases.
Expected return: 40%
New Windows and Doors
Buyers appreciate changes that improve the look of a house, so handsome French doors, for example, may be a plus. Energy efficient units are an attractive amenity with resale appeal. If your windows and doors are really worn, then their replacement become almost mandatory. Again, shop around and secure a cost-efficient job.
Expected return: 35%
Swimming Pool
This is a personal preference luxury item which may or may not affect resale profit.
Expected return: 0%