Top Ten Home Improvements Based On Percentage Return
September 6th, 2009 categories: Buyer Resource, Seller Resource
The National Association of Realtors releases information for consumers that helps guide them regarding home improvements that return value to the owner’s home each year. These annual reports are great, and really show that the National Association of Realtors is on the side of the general public by giving tips to add equity to property.
The top home improvements in terms of Percentage Return are as follows:
Home Improvement #1. Upscale Siding Replacement
Cost: $13,177
Home Value Added: $11,424
Percentage Return: 86.7% of cost.
Home Improvement #2. Adding Wooden Deck
Cost: $10,601
Home Value Added: $8,676
Percentage Return: 81.8% of the cost.
Home Improvement #3. Minor Kitchen Remodeling
Cost: $21,246
Home Value Added: $16,881
Percentage Return: 79.5% of the cost.
Home Improvement #4. Replacing Windows With Midrange Wood Windows
Cost: $11,512
Home Value Added: $8,946 in value
Percentage Return: 77.7% of the cost.
Home Improvement #5. Midrange Bathroom Remodeling
Cost: $15,899
Home Value Added: $11,857
Percentage Return: 74.6% of the cost.
Home Improvement #6. Renovating An Attic Into A Bedroom
Cost: $48,398
Home Value Added: $35,694
Percentage Return: 73.8% of the cost.
Home Improvement #7. Finishing A Basement
Cost: $61,011
Home value Added: $44,467
Percentage Return: 72.9% of the cost.
Home Improvement #8. Adding A Second Story
Cost: $146,538
Home Value Added: $103,553
Percentage Return: 70.7% of the cost.
Home Improvement #9. Adding A Garage
Cost: $57,272
Home Value Added $38,161
Percentage Return 66.6% of the cost.
Home Improvement #10. Adding An Upscale Bathroom
Cost: $74,345
Home Value Added $49,100
Percentage Return: 66.1% of the cost.
PLEASE NOTE: These numbers are based on National Averages, and are NOT specific to Sonoma County. We hope the %’s serve as a guide, as the dollar costs and dollar returns may vary.
