Return on investment for that summer renovation project

Home renovations seem to be a fact of life throughout the summer months. Homeowners are frequently faced with updating the kitchen, bathroom or finishing the basement, among many other things. Often it is hard to know just what projects will give the highest rate of return. The National Association of REALTORS conducted an 8 week survey between June and August of 2010 to see on average what projects produced the best rate of return for home owners. Here are a few of their findings:

Job Surveyed                                      Job Cost    Resale Value       Cost Recouped

Entry Door Replacement (steel)             1,218               1,243                  102.1%

Minor Kitchen Remodel                         21,695             15,790                    72.8%

Basement Remodel                              64,519             45,186                    70.0%

Bathroom Remodel                               16,634             10,337                    66.2%

Deck Addition                                       15,620             10,337                    66.2%

Home Office Remodel                           28,888             13,235                     45.8%

To see the full list of jobs that were surveyed follow this link or for more real estate information visit ChrisSalmans.com and find me on Facebook, Twitter & Youtube.

Chris Salmans
Sales Representative
Century 21 United Realty Inc.
705.743.4444 bus
ChrisSalmans.com
Top 21 Award Winner 2010