The following information is from a national real estate marketing publication. It should be used only as a general guide to ranking the importance of these improvements. Many factors will affect the appraiser’s opinion of these improvements including: location, value range of home, level of improvements in competing homes, market conditions, age of home and quality of improvements.
Percentage of your investment that is recouped at resale:
Remodeled Kitchen: 150%
A kitchen update can reward a seller with a sizable payback. Unless you are selling a luxury home (in which case, very high-end finishings may be expected), it is best to keep the remodelling simple.
Revitalized Lawn and Garden: 100%
A lush lawn and a pretty flowerbed make for good “curb appeal”.
A fireplace holds the promise of cozy family gatherings around the warmth of the hearth.
Second Bath: 90%
An extra bathroom makes life easier for families and makes your home more sellable.But don’t count on a return on luxury features such as whirlpool tub.
Room Addition: 80%
An extra bedroom is attractive to buyers, especially growing families.
Outdoor living space is a desirable asset.
Expanded Master Suite: 70%
To keep costs down, try to find extra space to create this wish list item by combining existing rooms and spaces instead of adding to your house.
Remodeled Bath: 60%
Installing new bathroom appliances such as low-flow toilets can also save you money on energy costs.
Exterior Paint: 50%
A fresh coat of paint can make a “tired” house look “alive” again.
Finished Attic: 50%
In a smaller house, a finished attic can often be a useful extra bedroom.
Finished Basement: 40%
A finished basement can create additional living space for your home.
Heating Systems: 40%
Replace it only if your old system is dysfunctional. Depending upon a buyer’s priorities,a new energy efficient furnace may or may not be a selling advantage.
New Windows and Doors: 35%
If the windows and doors are in bad condition, new windows and doors can improve the look of your home. This is particularly important for windows and doors at the front of your home, as they affect the “curb appeal” of your home. Energy efficient units are an ecological boom, but may be a resale bust.
It is easy to overspend on garages and their associated gadgets, so be careful!
Swimming Pool: 0%
In our West Coast climate, an outdoor swimming pool is not useable for most of the year and uses valuable yard space.