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Monday, July 25, 2011 

Which home improvements add the most value?

Statistics show that summertime is the most popular season for home improvements and renovations. Whether you plan on reselling or it’s just for your own pleasure, your home is one of the biggest investments you’ll make, so consider the value that the renovation will add.

This infographic takes an interesting look at each section of the house. Red numbers are the average cost of the job, Yellow is the average resale value, and Blue is the average percentage recouped. Click on the image to make it larger.

 

The data was compiled in a report by Remodeling Magazine, they compared the average cost fo 35 popular remodeling project in 80 US cities in 2010.

Posted by Zoe S

8 Comments » | Permanent Link
  • ComFree Blog

    A list of the Top 10 Canadian home renovations was also released recently: http://blog.comfree.com/2011/07/21/top-10-canadian-home-renovation-projects/

  • Anonymous

    ooh! Love it! thanks for sharing….now all we need is someone to make a
    talented infographic out of it.

  • Raffy

    Interesting article that missed the best ROI one can get in a renovation that is lanscaping. Here’s a link to a study done by Money Magazine explaining this:

    http://landscapeontario.com/landscaping-builds-equity

    In fact a Clemson University research study found that landscaping can provide a higher that 100% ROI:

    http://www.cnyhomeexpo.com/landscaping-can-result-in-more-than-a-100-return-on-investment/

  • http://www.communityguy.ca Ben Lucier

    Certainly not a pleasant infographic for those looking to do quick reno-flips. :) It looks like these numbers don’t apply to complete gut jobs though, but rather individual projects.

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  • Rooferok

    I can tell you the roof part of the graphic is wrong, at least in canada. 

  • http://www.communityguy.ca Ben Lucier

    What’s wrong with it? Too pricey? 

  • http://twitter.com/andrew_goodman Andrew Goodman

    I think it’s healthy that we begin to see the “real” reasons for putting money into a home. Although the numbers may not be 100% accurate, now that endless asset inflation of real estate is winding down, it will become clearer that putting fancy finishes and new rooms on homes is not a way to “make” money. So now that the facts are on the table, people can assess their reasons for doing these jobs in a more rational way… other than doing it to “make money” as some of the TV shows still try to sell it… (1) Because they love their home; (2) Because they want something to look good, feel good, work better, more space, etc.; (3) Because it’s good to keep up with renovations every year so you don’t run into problems. Nothing wrong with any of that. But we’re entering an era of more sober choices and that means we don’t need to believe that renovations are investments. In many cases they are simply about consumption or enjoyment… or if it’s broken, you must fix it.

    Bottom line is the home isn’t a piggy bank. It’s a cost like anything else (even if that’s deferred, amortized, or partially recouped). People should plan their finances accordingly.

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