Whether you want to update your living space to better fit your needs, or are thinking of selling your house in the near future, starting a home improvement project is no small task.
“Home renovations can be a stressful, time-consuming, and expensive process,” notes Laurie March, home improvement and remodeling expert.
Having an idea of the return you’ll receive on your investment at sale time is one way of deciding whether or not the project is worth the cost, or it can help you prioritize projects.
General estimates of how much you could get back
In an average residential market, several kinds of projects can recoup more than 80% of the investment for the cost of the job, notes Remodeling Magazine‘s “2014 Cost vs. Value Report.” The report details more than two dozen typical renovations in the midrange or upscale category, from replacing doors or windows to adding rooms. For example, if you install upscale fiber-cement siding to your house, expect to recoup up to 87% of the cost of the job, notes the report. You can search the report for trends over time, for regions, or even city-specific data.
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