Home Improvement Projects Rate of Return on Investment
Featured, Financial by Meredith Portman
Thinking about adding a deck or revamping the kitchen so you can up the price of your home before you sell? You might want to crunch the 2009-10 cost vs. value numbers, complied by Remodeling magazine, before you do.
Projects found to have the highest return on investment:
- Replacing entry door with steel one.
- Converting attic space to a bedroom.
- Adding a wood deck.
- Installing vinyl siding.
Project that had the lowest rate of return on investment:
- Home office remodel.
- Adding a sunroom.
The data includes national and regional averages on over 20 common home improvement projects ranging from kitchens and baths to roofs and decks. Data for both midrange and upscale projects is provided on:
- Average cost of project.
- Added resale value.
- Percentage of investment recouped.
- Change from last year’s report.
Bottom line: Unless you do the work yourself, you’ll probably get less return from the project than you put in, so plan on staying in your home a while to enjoy it.
One Comment on “Home Improvement Projects Rate of Return on Investment”
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February 11th, 2010 at 1:12 pm
Looking at the cost vs. value shows an attic conversion to be a high rate of return on investment; newer homes have roof truss systems which make an attic upgrade impractical for most do it yourselfers.