Top 10 Home Improvements for ROI
Written on Apr 21, 2009 by Charles Kim
Every market is unique to its own region and the numbers below are based on U.S. national averages (Remodeling Online Survey by Hanley Wood, 2008). For example, a swimming pool in Seattle,WA will be valued less by buyers than a swimming pool in Phoenix, AZ.
In general the research found the follow:
- Siding Replacement (Fiber Cement) – average costs are $13,212 and the return on investment is 88.1%
- Deck Addition (Wood) – average costs are $10,347 and the return on investment is 85.4%
- Siding Replacement (Vinyl) – average costs are $9,910 and the return on investment is 83.2%
- Minor Kitchen Remodel – average costs are $21,185 and the return on investment is 83%
- Siding Replacement (Foam Backed Vinyl) – average costs are $12, 132 and the return on investment is 79.7%
- Windows (Vinyl) – average costs are $10,448 and the return on investment is 79.3%
- Windows (Wood) – average costs are $11,384 and the return on investment is 79.3%
- Bathroom Remodel – average costs are $15,789 and the return on investment is 78.3%
- Major Kitchen Remodel – average costs are $55,503 and the return on investment is 78.1%
- Deck Addition (Composite) – average costs are $15,039 and the return on investment is 77.6%
Locally, I would also add that home owners who invest in finishing out basements which are common spaces in the NW will find the added livable square footage will net a return on average of about 75% - 85% on investment. Consult your local real estate expert and have them perform a market analysis of the area before you invest in any major remodel to help you make the right choice.
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