Your Adult Community Real Estate Place
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If you find yourself wondering what it would be like to have a larger kitchen, an extra bathroom or even a
main floor family room, you are probably wrestling with the dilemma, "Should I renovate or just move?"
It is never easy to uproot your family and move to a new home, especially if you have settled in and grown
comfortable where you are. This is why we are often tempted into over-improving our homes instead of
just moving to something that meets our changing needs. While it is difficult to separate emotions and
memories from financial considerations, it is often helpful to step back and look at what sort of return you
get when investing in a major renovation.
The Appraisal Institute's most recent Renovation And Home Value survey lists the 10 renovations that
have the greatest financial return at resale time. In a poll conducted annually, 200 appraisers nationwide
are asked to rank renovations by their return on investment. The results are summarized as a percentage
of the money spent on each renovation that a homeowner can expect to recoup when they finally move.
AVERAGE RETURN ON INVESTMENT
Kitchen. . . . . . . . . . . . . . 68% Return
Bathroom . . . . . . . . . . . . . 64% Return
Painting . . . . . . . . . . . . . 64% Return
Finished Basement. . . . . . . . . 50% Return
New Furnace. . . . . . . . . . . . 50% Return
Family Room Addition . . . . . . 49% Return
Landscaping. . . . . . . . . . . . 45% Return
Extra Apartment. . . . . . . . . . 42% Return
New Windows/Doors. . . . . . . . 39% Return
Central Air Conditioning . . . . . 38% Return
If you have questions or concerns regarding renovating or remodeling your property, we would be happy
to provide a complimentary consultation. As your neighborhood experts, we can assist you in making the
best decision.
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Victor and Dorothy Picazio Your Real Estate Consultants...For Life!
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