Return on investment for that summer renovation project

Home renovations seem to be a fact of life throughout the summer. 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.

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