It makes sense to assume that because home improvements are, by nature, improving your home. Hence, they must increase its overall value, too, right? Sadly, that’s not always the case. While some updates (new windows, minor kitchen remodels. Also, somewhat surprisingly, a new garage door). Hence, nearly pay for themselves. Therefore, the projects below don’t earn quite the return on investment (ROI) you may think they should. That doesn’t mean you shouldn’t embark on these upgrades—especially if they’ll make you love your home more. Just don’t expect to earn back every penny you spent on them when it’s time to sell your place.
Adding A Backyard Patio
This project could earn you about 55 percent of the initial cost, a pretty disappointing number considering a deck addition has up to a 76 percent ROI. Patios just don’t dazzle people the same way a deck does, and they often require maintenance or expensive repairs (if, for example, you install a concrete patio, and it cracks).
Adding An Upscale Master Suite
A massive sleeping area complete with custom built-ins, a gas fireplace, a walk-in closet, and an attached luxurious bathroom may seem like the stuff of dreams, but this kind of high-end renovation will only recoup about half of what you spent, according to the most recent Cost vs. Value report from Remodeling magazine. That’s likely because of the custom nature of an upscale remodel—that ornate wood trim or sleek marble vanity that you love (and broke the bank for) may not appeal to buyers.
Completely Remodeling Your Kitchen
You can expect an 80 percent ROI on a minor kitchen remodel, but just a 60 percent ROI if you do major work, including replacing your cabinets with custom versions, swapping out the counters, installing built-in appliances, and adding under-cabinet lighting. It’s true that people love an upgraded kitchen—but if you’re spending big bucks on your materials, you’ll rarely be able to recoup that cost. Bottom line: Splurge at your own risk!