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If you’re anything like me, you may be considering starting a remodeling job around your home. My home was built in the early 1900’s, and could definitely use some modern updates. I figured I would be adding to the value of the house while transforming it into the home of my dreams; I quickly learned that calculating return on investment with remodeling projects isn’t always that black and white, and?some projects don’t recoup their costs as well as others. ?
Before diving into any projects, I?recommend?reading?Remodeling Magazine’s Cost vs. Value Report.?Every year, the magazine compares the average cost of popular remodeling projects with the value those projects retain when the house is sold. I was amazed at the cost that some projects did (or didn’t) recoup when the house was sold. The latest report came out a few months ago, and below are the 5 upscale remodeling projects with the WORST paybacks.?
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Master Suite Addition ? 52.7% recouped
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Bathroom Addition ? 53.0% recouped
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Garage Addition ? 53.6% recouped
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Roofing Replacement ? 55.5% recouped
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Bathroom Remodel ? 57.2% recouped
On the other end of the spectrum, upscale remodeling projects that had better cost-recouped percentages were garage doors, window replacements?and siding replacements (including foam-backed vinyl siding). Doing your research before diving into a new remodeling project can help you ensure you are getting the most for your money in the long run.
