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Don’t let a Home Upgrade Downgrade Your Savings

 

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Whether you’re living in the last home you’ll ever own or the first, you’ll probably want to give some thought about your return on investment (ROI) on any remodeling you do. According to Remodeling Magazine, the amount you recover when you sell your home is at 62.2% compared to 86.7% in 2005. This is a slight improvement from the 57.7% it hit in 2011-2012.

 

Knowing a home improvement project’s value will diminish, as well as the level of enjoyment you and your family will receive from it can help you decide whether you do it modestly, upscale or not at all. Here is a list of the projects with the best and worst ROI based on the magazine’s 2015 Cost vs. Value report that compiles costs, sale prices and desirability of home features from building and real-estate professionals.

 

1. Sunroom addition

  • ROI: 48.5 percent
  • Cost: $75,726
  • Resale value: $36,704

 

2. Home office remodel

  • ROI: 48.7 percent
  • Cost: $29,066
  • Resale value: $14,155

 

3. (Upscale) master suite addition

  • ROI: 53.7 percent
  • Cost: $236,363
  • Resale value: $126,860

 

4. (Upscale) garage addition

  • ROI: 54.7 percent
  • Cost: $85,592
  • Resale value: $46,791

 

5. (Midrange) bathroom addition

  • ROI: 57.8 percent
  • Cost: $39,578
  • Resale value: $22,875

 

6. (Upscale) bathroom addition

  • ROI: 58.6 percent
  • Cost: $76,429
  • Resale value: $44,750

 

7. New (upscale) composite deck

  • ROI: 58.9 percent
  • Cost: $36,385
  • Resale value: $21,437

 

8. (Upscale) major kitchen remodel

  • ROI: 59 percent
  • Cost: $113,097
  • Resale value: $66,747

 

9. (Upscale) bathroom remodel

  • ROI: 59.8 percent
  • Cost: $54,115
  • Resale value: $32,385

 

10. Backup generator

  • ROI: 59.9 percent
  • Cost: $12,135
  • Resale value: $7,263