Remodeling Projects to Increase Property Value
Some remodeling projects pay off more than others. These remodeling projects will increase your property value so that you can recoup the cost of remodeling when you sell your house. We’ve included information about how much you can recoup on your investment when you sell your house, much of which we found on the Money Crashers website.
Window Replacement
Adding in energy-efficient windows is a great investment because you recover the money in many different ways: in energy savings, in tax credits and with a property value increase. Expect to make back between 60 and 90 percent of your investment when you sell your house.
New Siding
One of the great advantages of new siding, aside from the fact that you can recoup around 80 percent of your costs at the time of sale, is that this type of remodeling really boosts curb appeal. So not only does it increase your property value; replacing the siding also helps you sell the house.
Deck Addition
Many homeowners love spending time outside, and given the relative affordability of deck additions, this type of remodel is incredibly popular. Even better, you can recoup between 65 and 90 percent of the cost at the time of the sale.
Bathroom Addition
Adding a second bathroom to a home is a major improvement that can help you sell your home when you put it on the market. Expect to recover between 80 and 130 percent of the cost of this remodel at the time of sale. To save money, put the additional bathroom in an underused space, such as a closet, and consider installing a half bath instead of a full bath.
Kitchen Remodeling
Kitchen remodeling is one of the most common ways that homeowners choose to increase property value. Done right, you can recoup between 60 and 120 percent of the cost of a kitchen remodel when you sell your house. To make back the most money possible, keep the cost of your remodel reasonable. It’s easy to go overboard with kitchen renovations. Costly changes such as adding in specialty appliances and knocking down walls can really increase the price, so be cautious about the way you spend your money.
