Keep in mind that these ROI figures can vary depending on your market. Remodeling There’s a lot to be gained from sprucing up the inside of your home too. For one, it increases your own enjoyment—after all, who doesn’t want to love where they live? And if you’re selling, it’s crucial that the good impression from the outside carries through once buyers step indoors. As with any home improvement, there are smarter ways to spend your money. And let’s face it, kitchens sell houses. According to Remodeling magazine, kitchen remodels offer an average return of 79.3% nationwide, making it the best Beware, though—these projects can get pricey. On average, large-scale remodels can run into the tens of thousands of dollars, so it’s essential to carefully consider how much you’re willing to spend and what’s in demand in your market to maximize your return. Additions If you’re looking to add value to your home and make it more functional for yourself, you might consider adding entirely new rooms. But be warned: this is a big step with an even bigger investment. Room additions generally aren’t cost-effective if you’re planning to sell within the next few years. However, if you plan on staying put for a while to enjoy the fruits of your labour, they can offer a reasonable ROI. Some additions are more financially worthwhile than others: • Master suite: 52% • Deck addition: 70% • Bathroom addition: 62% investment for a full-scale remodel. Other worthwhile projects include: • Attic bedroom: 53% • Bathroom remodel: 62% • Basement remodel: 63%
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