When it comes to remodeling, there’s what we want — maybe a gazebo, a chef’s kitchen, heated floors, a star-viewing deck. Then there’s what we need — a new roof, maybe, or bedrooms enough for the entire family. Finally, there’s what makes investment sense. How much of a project’s cost will you get back when you sell the house?
The good news is that with home values on the rise, the payback from many home renovations is rising too. That’s according to Remodeling Magazine, a trade publication, which recently released its 30th annual Cost vs. Value report. The report covers return on investment for a broad range of common home improvement projects — from garage-door upgrades and bathroom remodels to window replacement and two-story additions. Some projects were considered “midrange” and others “upscale,” depending on the size of the projects and whether they incorporate higher-end trim and amenities.
How does your renovation project measure up as an investment?
See where it fits in this rundown from the report — which ranks the 29 remodeling jobs by percentage of project cost that homeowners can expect to recoup when selling the home.