January 29, 2010

Home Renovations: what's worth doing?

So you want to spruce up your house and make it ready for sale, or just feather your nest for you and your family to enjoy? The latest figures from the National Association of Realtors shows that some projects are worth doing and some really aren't.

In terms of getting your investment back on resale, the best project that returned the most money was the addition of an attic bedroom, with about an 83% return. After that, a basement remodel (75.4% return) and a composite deck addition (80.6% return) were also worthwhile.

What didn't return so much was a remodeled home office, and a sunroom - less than a 50% return, in fact. What also appears to be true when it comes to remodeling these days is that you are better off choosing a project that is mid-range in cost, rather than a more expensive, top-of-the-line remodel. Remember that, and you should see a good part of what you spend come back to you in value when you decide to sell your house.

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