Jimmy The Renovator: How Much Are My Renovations Worth?

how-much-does-it-cost-to-renovate

Renovations are like Art, some people might like them, and some people will not. Make sure you do it right, or the you could actually decrease the value of your house.

This is how: When an educated buyer walks into a house, and they don’t like the renovation, and they know they have to re-do or demolish the renovation, that is an added cost. Take for instance a basement, if your basement is not finished, it just needs to be finished. If the basement is finished badly, then it will cost more money to demolish the basement and then start from that point. The same scenario goes for the whole house.

Percentage recovered upon resale
Kitchen upgrade: 75% to 100%
Bathroom upgrade: 75% to 100%
Interior painting: 50% to 100%
Roof replacement: 50% to 80%
Replacement of furnace or heating system: 50% to 80%
Expansion (addition of family room): 50% to 75%
Doors and windows: 50% to 75%
Deck: 50% to 75%
Installation of hardwood floor: 50% to 75%
Construction of a garage: 50% to 75%
Fireplace (wood or gas) 50% to 75%
Central air conditioning: 50% to 75%
Finished basement: 50% to 75%
Wood fence: 25% to 50%
Interlocking paving stones on driveway: 25% to 50%
Landscaping: 25% to 50%
Asphalt driveway: 20% to 50%
Pool: 10% to 40%
Skylights: 0% to 25%

Here are some hot renovations trends this year to think about:

– Home theatre
– Hardwood floor in kitchen
– Laundry room on main floor
– Whirlpool bath
– Built-in kitchen appliances
– Office on the ground floor
– Kitchen island

stats taken from homeatstyle.com

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