The Best (and Worst) Projects for Your Home’s Resale Value
Are you looking for a specific renovation project that will improve the resale value of your home more than the cost of the project? Your return on investment is important but not all home projects add much value to your house. Here are the best and worst projects if you want the most bang for your buck.
Best: New Fireplace
Photo: Courtesy of manufacturer
Best: Resale Value Conversion to Bedroom
Worst: Backup Generator
Worst: Backyard Patio
Worst: Bathroom Addition
When considering a bathroom addition, it's important to ask, "Does the house need a new bathroom, based on the number of bedrooms?" A bathroom involves expensive renovation. And it only adds resale value if you really did need a half-bath in the hallway. However, bathroom remodels see better returns.
Worst: Master Bedroom Addition
An expanded master bedroom can be an expensive resale value project. And, today's buyers don't really care about making master bedrooms larger. Further, as a general rule, only plan a master bedroom addition if you want it and you're planning on staying in the house for years to come. Plus: Ideas for bedroom storage
A full sunroom needs careful design, proper insulation and a lot of maintenance. And potential buyers may end up asking, "Why not something else?" Think about a gazebo or screened porch to increase resale value instead. Plus: How to Build a Gazebo
Worst: Window Replacement
Window replacements can vary greatly for resale value. And good projects may be as high as 70 percent return of investment. But casual window installations aren't expected to add much value at all. Look for replacements where you can expand windows for more light or greatly improve their insulation.