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Renovations That Add Value to Your Home

FIVE RENOVATIONS THAT ADD VALUE TO YOUR HOME KEY AVERAGE RETURN ON COST INVESTMENT (ROI) ROOFING AND SIDING RENOVATION A working roof is essential, but a replacement could improve energy efficiency and bring a stronger ROI. FIBER-CEMENT SIDING G $13,500 The functional and aesthetic 78% elements of new siding also attract buyers. Consider how different materials affect ROI. ROOF REPLACEMENT L $22,000 57.8% 2 BATHROOM VINYL SIDING The ROI for a bathroom remodel depends on how many baths your home has and what you put into it. LO $12,000 ADDING A FULL BATH 69.5% |AVERAGE VALUE 10% TO 20% ADDED OF A HOME'S VALUE FULL BATH REMODEL $17,000 62.2% KITCHEN REMODEL MINOR KITCHEN UPDATE The kitchen is the heart of the home, a top home buyer consideration, and has one of the highest returns on investment. $20,000 72% MINOR KITCHEN UPDATE: new cabinets, fixtures, appliances, flooring or countertops MAJOR RENOVATION: restructuring the layout, plumbing or electricity of your MAJOR KITCHEN UPDATE kitchen. LS $60,000 The materials and appliances will impact cost and ROI. Su 65.7% KEEP YOUR RENOVATION BUDGET AT AROUND 15% OF YOUR HOME'S VALUE FOR THE BEST RETURN. FINISHED BASEMENT LO $64,000 66.8% AVERAGE COST OF HOT WATER HEAR/ BOILER – INCLUDES STANDARD AND HIGH-EFFICIENCY GAS AND OIL SYSTEMS PATIO UPGRADE Homes with an outdoor entertaining space are increasingly important to homebuyers. FINISH UNFINISHED ROOMS Cost to install: Materials and design will largely impact cost and ROI. $5,000 Increase your home's value and your family's usable space by finishing the attic and basement. Annual heating costs without AC $2,700-$3,30o WOODEN DECK $10,500 Finishing the basement, a $63,400 average cost, could add $42,300 to your resale value and a $50,100 average attic renovation could increase the resale value by 70% $36,300. If remodeling your basement, consider installing a new heating and cooling system. The 30-70% in utility savings over time may be worth it. COMPOSITE DECK* *Note: A composite deck is more expensive, $15,500 but requires less maintenance, which 62.8% may make it more valuable to you. GEOTHERMAL SYSTEM Cost to install: BRICK OR PAVER PATIO $25,000 Annual heating and cooling cost: $987 L $5,000 - $15,000 (depending on added accessories) 70% SOURCES, Study RedGreen.pdf

Renovations That Add Value to Your Home

shared by rosetta on Nov 20
Explore the most popular home improvements that add value to your home with this infographic from Citizens Bank. Large home remodeling projects can be financed through home equity loans and lines of ...


Citizens Bank


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