Moneywise: Your Home is Your Investment
People aren’t trading houses as often right now; instead they’re staying put and trying to boost the value of their investments with strategic renovations.
Unfortunately, the upgrades they think add most value to their homes and the ones that actually do, may not be the same!
Here’s a rough estimate of the value added by specific renovations and upgrades:
- Painting and decor, interior – 73%
- Kitchen renovations – 72%
- Flooring upgrades – 68%
- Bathroom renovations – 68%
- Painting, exterior – 65%
- Window/door replacement – 57%
- Main floor family room addition – 51%
- Fireplace addition – 50%
- Basement renovation – 49%
- Furnace/heating system replacement – 48%
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