However, the ROI of a bathroom renovation often follows the same pattern as kitchen renovations. In terms of return on investment, exterior renovations are the ones that rule and have done so for the past 30 years, according to the Remodeling report. In fact, four of the top five jobs with an ROI greater than 100 percent are outdoor improvements. Bathroom renovations will recover between 87.7 and 93.5 percent of your investment, according to the report Cost vs.
As in the kitchen, don't go crazy. Install new accessories, illuminate the room with paint and put grout back in the bathtub. A new mirror and lamps can easily transform the look of a bathroom. When looking to add value to your home, invest in the essentials, such as updated HVAC systems, insulation and updated electrical panels.
Incorporating renewable energy elements such as geothermal heating, solar panels and wind energy can attract energy-conscious buyers. In addition to square footage, a home's usable space is important in determining its value. Unfinished garages, attics, and basements are generally not counted in usable square footage. So, if you have a 2,000 square foot home with a 600 square foot garage, that's just 1,400 square feet of living space.
The impact of a project or improvement varies depending on the market you are in and the current value of your home. For example, based on data from our home improvement value calculator, a finished basement in Portland is 5 times more valuable than finishing a basement in Atlanta, representing an increase of approximately 13% in the average value of a home compared to 2.5%, respectively.
