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 http://www.deseretnews.com/article/700219729/Kitchen-remodeling-trends-for-2012.html?pg-all http://www.realestate.com/advice/1ho-best-home-improvements http://www.karet1.com/pdf/Geo_Case, Study RedGreen.pdf http://www.heatingsystemguides.com/buying-guides/average-prices-heating-system.html http://www.remodeling.hw.net/2011/costvsvalue/national.aspx http://www.nahb.org/generic.aspx?genericContentID-168605 http://www.homeadvisor.com/cost/heating-and-cooling/install-a-boiler/