Renovation cost and recovery
Some renovations are more promising than others when it comes to return on initial investment when it comes time to sell the house. In terms of recovering the money spent on a renovation, the following should give some guidance:
| Renovation |
Average Cost |
Resale Recovery |
| Paint |
$700 |
200% plus |
| Add a Bathroom |
$10,000 |
96% |
| Add a Fireplace |
$4,000 |
94% |
| Kitchen Renovation (minor) |
$8,500 |
79% |
| Kitchen Renovation (major) |
$24,000 |
70% |
| Bathroom Renovation |
$7,500 |
69% |
| Add a Skylight |
$4,000 |
68% |
| New Siding |
$7,500 |
67% |
| Add Insulation |
$1,750 |
65% |
| Addition |
$35,000 |
62% |
| New Roof |
$4,600 |
61% |
| Deck |
$6,000 |
60% |
| Greenhouse Addition |
$17,000 |
56% |
| Replace Windows /Doors |
$12,000 |
55% |
| Add a Swimming Pool |
$24,000 |
39% |
| Source: National Association of the Remodeling Industry |
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