No. 6: Upscale master suite addition
Picture adding a sumptuous hotel suite to your home -- an extra-large sleeping suite, complete with sitting area, fireplace, kitchenette and luxurious bathroom.
According to the Remodeling magazine survey, this project can potentially add the most dollar value to a home at resale. But it was also the most expensive project on the list. And in terms of the percentage recouped at resale (about 56 percent nationally), it offered one of the lowest returns on the dollar, according to the report.
The right reason to remodel
Want to get the most bang for your remodeling buck? With any remodeling project, it's smart to do it for your own enjoyment and not count on getting all the renovation costs back at resale, says Combs.
One feature in an upscale master suite addition that can help with resale: a fireplace, says Dick Gaylord, past president of the National Association of Realtors and broker with Re/Max Real Estate Specialists in Long Beach, California.
Not only would it be featured in the listing, but it can make the home easier to sell because "many people love" a master suite fireplace, he says.