Is Home Remodeling Worth It?
Before you start an extensive or costly home remodeling project you should consider what effect, if any, it will have on the resale value of your home.
Compare your home to others in your neighborhood. If you are over-improving compared to the homes around you, it is highly doubtful you’ll recoup your investment.
Kitchen and bath renovations are generally the most expensive but they may not be the best way to add value to your home if you are planning to sell in the near future.
Renovations that give you the best return on investment are: replacing an entry door, adding a wood deck or an attic bedroom, replacing a garage door or minor kitchen or bath remodeling.
Renovations that give the least return on investment are: remodeling a home office, adding a sunroom, adding a back-up power generator or adding a master suite.
Before finalizing any remodeling decision, consult with a REALTOR familiar with real estate values in your neighborhood to get a second opinion about whether the project you are considering would be a sound investment.
