Which upscale home renovations give the best return on investment when you sell your home?
The Remodeling 2017 Cost vs. Value Report compares average costs for 29 common remodeling projects in 99 metropolitan areas, and looks at the average value that each project returns if the home is sold a year after the remodeling work is completed. Here is Remodeling’s ranking of the return on investment for 10 popular upscale projects, in which materials and amenities are more luxurious.
The Bankrate Daily
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Garage door replacement
Resale value: $2,810
Cost recouped: 85 percent
Who wants a plebeian garage door when they can have an upscale, fine-looking garage door with windows in the top panel? This project returns a big chunk of its cost in resale value.
The existing bedroom lacks a fireplace? Then add a 32-by-20-foot, upscale master suite on the side of the house. The bedroom has a sitting area with a gas fireplace and bookcases. The bathroom has a walk-in dual shower enclosed by frameless glass, a soaker tub and a partitioned area for a luxury toilet.
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Resale value: $35,456
Cost recouped: 59.1 percent
The 35-square-foot bathroom isn’t big enough? Expand the bathroom to 100 square feet within the home’s existing footprint. This upscale version has a glass-enclosed shower, a soaker tub and a heated floor.
This is the upscale renovation that brings the least return on investment, but it still has an ROI higher than 50 percent. On the back of the house, add a 16-by-20-foot composite deck with boards arranged in a simple linear pattern, with railing all around. A three-step stairway leads to the yard.