For some people, a home improvement project on a Saturday afternoon is almost irresistible. It can be a quick way to spruce up your home to simply mix things up or a strategy for adding more value to your home's equity. Whatever the situation may be, it's rarely a good idea to spend or do more than necessary, especially if the end goal is to get all or even more of your money back when it comes time to sell.
The following is a list of the top ten best and worst home improvements in terms of dollar returns, according to the Remodeling magazine's 2009-10 Cost vs. Value Report:
Best
- Steel Entry Door Replacement - 128.9% of costs recouped
- Fiber-Cement Siding Replacement - 83.6%
- Attic Bedroom - 83.1%
- Deck Addition - 80.6%
- Vinyl Siding Replacement - 79.9%
- Foam-Backed Vinyl Siding Replacement - 79%
- Minor Kitchen Remodel - 78.3%
- Wood Window Replacement - 77.3%
- Vinyl Window Replacement - 76.6%
- Upscale Vinyl Window Replacement - 76.5%
Worst
- Home Office Remodel - 48.1% of costs recouped
- Sunroom Addition - 50.7%
- Upscale Master Suite Addition - 55.7%
- Garage Addition - 55.9%
- Upscale Bathroom Addition - 57.9%
- Backup Power Generator - 58.9%
- Mid-Range Bathroom Addition - 59.9%
- Upscale Roofing Replacement - 60.5%
- Upscale Deck Addition - 60.8%
- Upscale Bathroom Remodel - 61.6%
Every area is different so if you are not sure where and how to spend your money on a remodel project, the best place to start is by talking with your local real estate agent. They will give you a good idea of what is selling well in your area and how much is enough. A good rule of thumb to keep in mind is: Think practical, not emotional.
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