We can connect you with the best lenders offering the lowest rates for your home improvement project. What’s not always so easy is determining what home improvement projects add the most value. Some home improvement projects seem like a good idea at first but in the long run won’t add enough resale value to your home to make the investment worthwhile, should you ever want to sell.
Here are the five major home improvement projects, defined as costing at least $10,000, that will come the closest to paying for themselves, followed by the five projects that offered the lowest returns on investment, according to Remodeling Magazine’s 2014 Cost vs. Value Report:
THE BEST:
- Attic bedroom – Average cost: $49,438. Resale value increase: $41,656. Recouped investment: 84.3 percent.
This would include converting unfinished attic space to a new 15-by-15-foot bedroom and a 5-by-7-foot bathroom with shower, extending HVAC to the new space, adding four new windows and a dormer. If you need advice or professional assistance when it comes to window installation, Total Roofing & Reconstruction is a great choice.
- Minor kitchen remodel – Average cost: $18,856. Resale value increase: $15,585. Recouped investment: 82.7 percent.