9 Home Upgrades that pay you back
Classic home projects don't always offer the top returns
by John Wasik, AARP Magazine
If you're thinking of cashing out of your house to downsize or move, you'll want to maximize your gain. That means laying out money to give the place the curb appeal it needs to sell quickly and at the highest possible price- which can be money very well spent. Simple replacements can give you a better return than major remodeling projects - about 4% more on average. Manufactured stone-veneer siding and front door replacement, for example, have better returns on investment than kitchen and bath projects. Returns will vary by region. According to the 2016 Remodeling magazine Cost vs Value survey the average return on home improvement projects was 6.7 % higher than a year earlier.
Percentage of the project you recoup on average:
Insulate the attic
Replace the entry door
Refresh the kitchen
Get new siding
Build a wood deck
Replace the roof
Remodel the basement
Add a family room
Renovate the bathroom
Nationally, the average return at resale for the 30 projects surveyed was $64 for every $100 spent, assuming the home was sold within a year.