Some home improvements provide more of a payback when you sell the house down the road.
Here’s a list of the four home improvements which will provide the biggest payback when you sell.
- Adding square footage – while this can be a very expensive project, adding to the size of a house can re-coup between 50-83% of your initial investment. Putting a bonus room on top of your front facing garage increases the square footage without having to enlarge the foundation.
- A deck addition – adding a deck makes a house feel larger and allows you to enjoy your backyard during the warmer months. Typically you can get between 65-90% of your investment back .
- Re-modeling the kitchen – one of the most important rooms in the house is the kitchen. A well done project will get you between 50-120% back when you sell the house but remember not to over-do the project. A million dollar kitchen in a $500,000 home won’t be fully appreciated by future buyers.
- A bathroom addition – the second room buyers check out is the bathroom. While re-modeling a bathroom will recoup a lot of the renovation costs adding a second bathroom to a one bathroom home is huge. Many home owners find that they get between 80-130% of the cost of the project.
If you are thinking about buying a home or renovating your present home, speak to me about how I can help you to finance any of these projects in your mortgage and pay low interest rates.
dcarlson@jencormortgage.com
403-245-3636 x 2027
By: Dave Cooke – DLC Jencor