Home renovation costs vary greatly from market to market as well as well as from contractor to contractor. If you plan on living in your home for a long time certain renovations make sense based on your needs and desires. If you plan on selling in the next few years, some major projects are best to avoid as you will only recoup a small portion of what you will spend.
There are some large home renovations you can do that will be worth you time and money that even if you don’t recoup all of your investment will help make the house easier to sell.
Bathrooms are the Best
A mid-range bathroom remodel is on average one of the easiest ways to get the most for your money. Mid-range means $3,000 to replace the toilet, light fixtures, maybe add a new or double sink. If you have a bit leftover you can even update the wallpaper. On average, according to Zillow Talk, a bathroom remodel of this type results in a $1.71 increase in home value for every $1.00 spent on the project.
Pay Attention to the Attic
Adding fiberglass attic insulation is the only renovation that gets more than a 100-percent return on your investment according to Remodeling Magazine’s 2016 data. With a national average investment of just over $1,200, the recoup is around $1,482, a 116.9% return. If you’re willing to go all-out, converting attics into bedrooms is another particularly popular project that also offers a high return, as much as 84.3 percent. Even better? If you have exposed brick, play it up in your listing and you could get nearly 5% above the expected listing price and sell your house 36 days faster.
Check out the other great ideas from Zillow.com that will help you decide on what your next project should be.