We’re back, with our special “love Your Home!’ Our annual tribute to Valentine’s day – and what it might mean to you home sweet home.
Ever give a gift on Valentine’s Day that didn’t really cut it? Like, tulips instead of roses? Well, that’s too bad!
But – if you want to show your house some love – the same kind of thing can happen….if you invest in home improvements that don’t really bring you much of a return when you sell!
In out first our we talked about how improvements that DO provide a good return..based on Remodeling Magazine’s 2019 cost Vs Value survey. Now? the other end of the spectrum…the nine home improvement projects that might be nice, but which don’t bring you back – too much.
Let’s do a countdown here – Starting with number 10: A universal design bathroom. That will transform your bathroom into one that’s wheelchair accessible . It will cost on average around $33,000. Your return? Around 62% when you sell.
Number 9? This is a big one. Completely remodeling your kitchen! That is on average, a $66,000 job! And when you sell – it will recoup only around 62% of the investment. Not that great – but I bet you and your family would love it –
Number eight! Replacing your roof – with one that’s metal! That will set you back a little less that 39,000 on average, and when you sell,you’ll get back around 61% of your investment.
Next up? a midrange Bathroom addition. Adding a brand new bathroom to your house isn’t cheap, costing more than $47,000…..and at resale? It would bring in a return of only around 60%.
OK, now. Number Six: A bathroom remodel…which brings almost the same return….and adding one from scratch, but it’s more expensive, with an upscale version coming in at almost $65,000…again, returning only around 60% of that at settlement.
Number five on our countdown of the home remodeling projects that will bring the least return when you sell? Well, get ready to write a really big check for this one – an upscale, Major Kitchen Remodeling. Cost? Around 132K….but the return? Less than 60% of that.
OK Number Four? A midrange Master Suite Addition. That sounds expensive, and it is! On average – $131,000. And if you sell you’d get back only about 59% of that investment.
Next up? Another bathroom addition – but this time? Upscale, all the way. Cost? Around $88K….return? About 58%.
Number two…..a Backyard patio! Sounds nice, doesn’t it? Well, that project will cost an average of $57,000…..and when you sell? You’ll get back around 55% of that.
And the number one remodeling project that will bring you the smallest return on your money? An upscale Master Suite Addition! Get ready for this one – on average? Around $271,000. Your return… around 137, which is around 50 ROI.
So there you have it – ten home improvement jobs that bring you a lot less than your investment.
But as we all know, it’s not always about the money. And many of those improvements would mean some very happy times around the house – because as much as you love your home, with a few improvements, you might love it even more!
And totally loving this wonderful place you call home – is worth all the money – in the world.