With the popularity of all the DIY shows on television, Billy and I are finding more and more homeowners wanting to take on improvement projects. Some are doing these projects for their family's enjoyment, while others are wanting to add value to their home prior to listing it for sale. As you will see, some projects will give you a much higher return on investment than others. We always recommend using a licensed professional for any of the larger projects.
Below is a list that shows the national average for cost recouped according to Realtor Magazine.
Minor kitchen remodel (88%)
Bathroom remodel (85%)
Major kitchen remodel (81%)
Family room addition (80%)
Deck addition (77%)
Master suite (75%)
Attic bedroom (74%)
Siding replacement (73%)
Window replacement (69%)
Home office (55%)
Projects that may increase your home’s value include: Jacuzzi (4 jets or more); permanent hot tub; in-ground pool; security system; sprinkler system; substantial out buildings; and vaulted ceilings. These may not add value to your house: above-ground pool; ceiling fans; garden pond; and light fixtures.
In the Reno Sparks area, in-ground pools are not always popular with buyers, especially buyers with young children. This means buyers may no put an added value on the property because of the in-ground pool.
Mass appeal - Although you may love blue carpet and green tile, not all buyers would feel the same way. Therefore, before making such a unique design decision, stop and think about what would appeal to the average buyer.
Quality - Use quality materials and workmanship. A poorly completed project can actually decrease the value of your property and lead buyers to question all workmanship on the property not just the remodel.
Watch the bottom line - Keep the value of your property within 15 to 20 percent of your neighbors.