real estate

6 best home fixes for the money

No. 6: Upscale master suite addition
No. 6: Upscale master suite addition © Rodenberg Photography/Shutterstock.com

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.

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.

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
MORTGAGE & REAL ESTATE NEWSLETTER

Timely market news and advice for consumers ready to buy, sell or invest in real estate. Delivered weekly.

Blog

Holden Lewis

Will the last homeowner please turn out the lights?

The homeownership rate keeps sinking. Now it's at its lowest level since 1994.  ... Read more

advertisement
Partner Center
advertisement

Connect with us