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SHOULD I RENOVATE?
Return on Investment
Are you getting the highest return on investment from your renovation? Some renovations are more promising than others when it comes to selling your house. In terms of recovering the money spent on a renovation, the National Association of the Remodeling Industry offers these stats:
Renovation Average Cost Resale Recovery
|
| Renovation |
Average Cost |
Resale Recovery |
|
| Paint |
$700 |
200% plus |
| Add a Bathroom |
$10,000 |
96% |
| Add a Fireplace |
$4,000 |
94% |
| Kitchen Renovation (minor) |
$8,500 |
79% |
| Kitchen Renovation (major) |
$24,000 |
70% |
| Bathroom Renovation |
$7,500 |
69% |
| Add a Skylight |
$4,000 |
68% |
| New Siding |
$7,500 |
67% |
| Add Insulation |
$1,750 |
65% |
| Addition |
$35,000 |
62% |
| New Roof |
$4,600 |
61% |
| Deck |
$6,000 |
60% |
| Greenhouse Addition |
$17,000 |
56% |
| Replace Windows / Doors |
$12,000 |
55% |
| Add a Swimming Pool |
$24,000 |
39% |
Before You Start an Energy - Efficient Retrofit - The Building Envelope
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