Remodeling your home is an expensive and time-consuming endeavor. With that in mind, you, of course, want to make sure the projects you take on will be worth all the trouble.
Today, we’ll list a few home upgrades that bring a good return on investment, as well as a few that don’t. The percentages below reflect those of Silicon Valley; the numbers may vary for different markets.
According to Remodeling Magazine, garage door replacements will bring an approximate 208% return. The magazine also stated that minor kitchen remodels will bring an average 147% return, and adding on to a wooden deck in your backyard can get you an average return of about 146%.
Interestingly enough, though, the study found that patio remodels will only bring a 79.5% return on investment, on average. Also, upscale kitchen remodels can actually cause you to lose money. The average upscale kitchen remodel in the will bring you an 85% return on investment on average. Similarly, upscale master suite additions also bring a low return—just 82% on average.
As you can see, not all home upgrades are worth taking on. If you have any other questions or would like more information about how to choose improvements to make to your home before you sell (or even just for your own enjoyment), feel free to give us a call or send us an email. We look forward to hearing from you soon.