To renovate or not to renovate....

Don`t try to cash in on the wrong kinds of home improvements
While all home improvements have the effect of raising the overall value of a home, not all of them are 100% recoverable at the time of sale. Therefore, it`s imperative to do careful research before embarking on renovation work for the purpose of profit.

Here`s a sample list of home improvements with their cost recovery percentage range:

Adding a pool 75 to 90%
Adding a new room 40 to 75%
Remodelling a kitchen 75 to 125%
Adding a new bathroom 70 to 125%
Building a garage 75 to 100%
Adding a patio 50 to 75%
Adding a deck 40 to 80%
Upgrading the attic 100 to 125%
Enclosing a porch 40 to 70%
Adding a fireplace 75 to 160%
Upgrading the basement 100 to 125%
Minor energy upgrade 75 to 100%
Most other common improvements 60 to 90%
 
If you decide to proceed with improvements, avoid extremes in architectural styles and colours. Instead, use neutral, soothing ones - they`re usually the best as tastes vary considerably among buyers.

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