It's closing day, congratulations. Break open a bottle of champagne and enjoy. Ready to renovate? Before you pound that first nail, always look ahead to your home's resale value. Certain modifications give better resale value than others.
Because a remodel has a predicted high resale value doesn't mean it actually will turn over a profit or even break even at sale. Despite your best efforts, market forces often conspire against you, bringing you formerly "high value" projects into the red.
Still, it's good to start on a good foot, and these projects tend to look the most attractive to buyers.
- Siding Replacement - Upscale
- Bathroom Remodel - Mid-Range
- Minor Kitchen Remodel - Mid-Range
- Siding Replacement - Mid-Range
- Two-Story Addition - Mid-Range
- Attic Bedroom - Mid-Range
- Bathroom Remodel - Upscale
These are the take-it-or-leave it remodels. Historically, they have been found to retain their value, and tend to at least break even.
- Major Kitchen Remodel - Mid-Range
- Deck - Mid-Range
- Basement Remodel - Mid-Range
- Window Replacement - Mid-Range
- Window Replacement - Upscale
- Bathroom Addition - Mid-Range
- Roofing Replacement - Upscale
- Bathroom Addition - Upscale
- Major Kitchen Remodel - Upscale
- Roofing Replacement - Mid-Range
Do these remodels because you want them, not because you expect to make a killing upon resale. Your idea of a high-value remodel may be a remodel that the subsequent buyer is anxious to tear out.
- Family Room - Mid-Range
- Master Suite - Mid-Range
- Master Suite - Upscale
- Sunroom - Mid-Range
- Home Office Remodel - Mid-Range