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Not all home remodeling projects can help the market value of your property. This guide can help prospective renovators determine which projects are worth the money. Wood Decks A wood deck is not a cheap addition. Properly installed, it can cost an average of $9,539. However, homeowners who later sold their home were able to recover an average of 87.4 percent of the cost. Why? It's all about having an outdoor space. People love being able to sit outside and watch the kids or host friends and family. A deck gives them that space and adds to the aesthetic beauty of the yard. An important tip to remember before adding a deck: some city ordinances require a permit before adding one. Check with local offices to see what paperwork is required. Kitchens Like a deck, a new or updated kitchen can make a big difference in property value. Even a minor redo can recoup an average of 83 percent of the project's cost. Kitchens are the heart of most homes, and most buyers often over-estimate how much time they spend cooking and eating. Even a minor remodel of this nature can cost an average of $18,856. That includes hardware, faucets, paint, sink, countertops, cabinet doors, and appliances. Finished Basement and Attic Not all areas are basement friendly, but for those that are, a finished basement can be a big selling point. People like the idea of having the extra space for a room, game area, or even an office. Though a fully renovated basement with a full bath can cost an average of $62,800, the return is equally great. Homeowners saw an average of a 77.6 percent return on their investment when it came time to sell. Additionally, turning an attic into an extra bedroom can add value. Not only can this bring in more value than building a new room, it is cheaper too. Homeowners saw an average of 84 percent of the cost returned after selling the property. Windows Home remodeling sometimes isn't about redoing a room or outdoor space. Replacing the windows is a good way to save money in the long run and add value back to the property. Swapping out windows can cost as much as $10,900 for insulated wood windows (about $1,000 less for vinyl) but the return is over 78 percent on average. Additionally, the new windows help keep out the cold and heat, meaning homeowners spend less on their cooling and heating bills throughout the year. Spending money on home remodeling is something all homeowners will do at some point. Those who are interested in adding value should research the project before committing to it in order to assess how much the property value will rise due to the renovation. It is important to remember it is not a dollar-for-dollar increase, but it can be substantial. When considering home remodeling, Sacramento residents visit Mills Builders. Learn more at http://www.millsbuilders.com/services/.
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