Best return on your remodeling dollar
Want to recover the most for your remodeling dollar at resale?
Keep it simple, pay to have it done right and don't overimprove.
Moderately priced materials and finishes could be a smarter bet than top-of-the-line treatments, says Howard Morrel, associate real estate broker with Brown Harris Stevens in New York City.
"Use quality, but the least ornate option -- the simplest form of renovation that you can do," he says.
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In a neighborhood of $100,000 homes, adding a $50,000 kitchen may give you the edge over the competition at resale, but it probably won't boost the sale price much, says Pat Vredevoogd Combs, past president of the National Association of Realtors and vice president of Coldwell Banker AJS Schmidt Realty in Grand Rapids, Michigan.
A 2014 report by Remodeling magazine listed 35 professional projects nationwide (no do-it-yourself), along with estimated costs and return at resale. When it came to adding the most dollar value at resale, here are the six that topped that list, from sixth-best to best.