The question: Which home improvements will increase the net worth of my home, and how much of my investments can I expect to recoup?
The answer, according to the Keller Williams Green Team:
1. A fresh coat of neutral-toned paint on the interior can make selling your home easier. A professional exterior paint job can recoup up to 75% of its cost.
2. Full kitchen remodeling (at an average of $39,000) can recoup 80% of its cost, while refinishing an outdated kitchen (at an average of $15,000) can recoup 87%.
3. Adding an extra bathroom at an average cost of $14,200 can recoup 81% of its total cost!
4. Adding a deck for about $6,000 can usually recoups 75% of its cost, making it a very cost-efficient and inexpensive addition (especially compared to other outdoor improvements).
5. Don't add a swimming pool, unless it's for your family's enjoyment! Pools have virtually no resale value at all.
In short, basic is better. Prioritize fixing problems over luxurious additions and simple improvements over unnecessary, costly ones.
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