Some home improvement projects can add some serious value and joy to your home!
Whether you just realized that you need it or just plain want it, you are finally ready to sink your brave teeth into a major home improvement project.
Lucky for you we will arm you with all the info you could ask for, so that your project will be as painless as can be.
There are many reasons that you maybe considering adding on some additional space. You may need more bathrooms, more garage bays, or you just plain want to increase your quality of life.
But before you pick up the yellow pages or use our free professional contractor referral service, let's think about some important things to consider.
Most remodeling projects will not recoup their cost right away, so if you are planning to sell right after the contractor dust settles then you may want to do some more research before you bite that bullet.
On the other hand, if you really need space, or if you can wait a year or too, you shouldn't really be to worried about recouping the cost because overtime most remodeling investments do pay for themselves; just not overnight.
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Project: Farmhouse Addition with a 3 Car Garage
Location: Portland, Connecticut
County: Middlesex
Square Feet Added: 3,600
Rooms added: Kitchen extension, dining room,
living room, master suite, master bath, full
basement, 3 car garage with bonus room above.
Total cost: $244,639.00 |
The latest figures on recoup costs:
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84 percent on an upscale bathroom addition, and 95 percent of a more modest one.
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79 percent on an upscale kitchen renovation, and almost 75 percent of a more modest one.
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79 percent on a basement remodel (including large entertainment area, full bath and one additional bedroom-sized room).
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77 percent on a master bedroom suite, whether high-end or mid-range.
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104 percent on a deck addition.
As you can see for yourself, remodeling your kitchen or bathroom does not necessarily make you instantly rich. In fact you will have to wait until you recoup your costs and then some before you call your local real-estate agent.
But let's not forget that these figures a based on average conditions in average neighborhoods. Conduct your own market research to assess what comparable homes with the amenities you plan to add go for near your home. Sometimes, recouping your remodeling costs happens instantly, but it always makes wise sense to do your research first and construction last.
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