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The Best Home Renovation Projects That Hold Their Value

home renovation projectsIt’s the depths of winter but spring will be here before you know it. With that your thoughts might be turning to that home renovation project you’ve been waiting for. Now’s the time to get the final plans and cost in place so when the weather turns nice you can hit the ground running.

A home renovation isn’t simply painting a room or putting down new carpet. Those things are nice to do and are needed from time to time. When I say home renovation I’m referring to big projects…ones for which you might want to call in a contractor. For the most part these are projects that are going to cost thousands of dollars, maybe even reach into 6 figures.

With that much money at stake it’s important to do your research ahead of time. One of the big issues is how much return you can expect to receive on your home renovation investment. You don’t want to dump $20,000 into a project only to see it’s value dwindle to nothing.

We’ve been thinking recently about finishing our basement. We could add several additional rooms of living space there along with perhaps a bathroom. We know it would add value to our home life (giving us more personal space) and add value to the home itself. But how much money to put into it is the real question. What could we expect to get back in value if we ever sell our home?

With that in mind, check out this infographic from Contractor Quotes. It shows the typical cost of each major home renovation and what you can expect to recoup in cost when you sell your home.

Home Renovation Projects That Increase a Home’s Value

home renovation

Questions: What stands out to you about the infographic? Were your surprised by anything? Do you have any home renovations underway or in the planning stages? How much would you spend to increase the value of your home?

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  1. My laundry area…yes, area is in my creepy unfinished basement/cellar. I hate it. But I love your ideas for linen closet. You are so creative. Thanks for sharing.

  2. Great points. Thank you for sharing this. Love the infographic. Planning to do some home renovations for this year for my home hopefully, it all goes well. Cheers!

  3. Wow, great post! Renovating your home can definitely be a fun experience while adding value to your home. Most of these projects have a pretty good ROI rate. Thanks for sharing!

  4. The long-term benefits of renovating your home are definitely worth considering in many cases, especially if the recoup reaches 80% or higher! As you say, doing adequate research is the most important step, and it’s especially important that one uses the right materials for the right job. Great post!

  5. home renovation Townsville says

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  7. For a sweet home, It’s must need a smart bathroom. I think, If you make your bathroom through low budget it will be a big mistake. So, Obviously your bathroom budget to be a good amount. And, Overall your Home Idea is very beautiful.

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  9. Very interesting infographic. I think there are a lot of different factors to consider – age of home, condition of home, how long you plan on staying, etc. You definitely need to do your research, think about your situation and decide if a renovation is right for you. Thanks for sharing!

    • I definitely think it matters how long you will stay at the home. If you plan to be there short term (3-7) years, then many home renovations don’t make sense.

  10. Great infographic. I think the kitchen is the main splurge area. We tend to spend over and over for kitchen stuff even we don’t need them. Just the other day my wife bought the most costly removable backsplash tiles of them all. And we don’t even own the place, we live in a rented flat. The landlord won’t mind, of course, but I’m not sure for my bank account.
    Maybe you should write an article for tenants as well. Something on how to save on renovation and not spend fortunes on a property that you don’t own. I think some people need to return down to Earth…

  11. I am converting my attic to a bed room and put a window there. My kid would love this place to be his bedroom. And, I just want him to experience what I did when I was a kid because having an attic bedroom was really amazing!

  12. We’re looking to do a bathroom remodel at our home, and I hope these numbers are true. Ultimately, I don’t expect many remodeling projects to recoup their cost if we ever sell our home.

    A major caveat here is that you’ll be selling your home and will get much of the remodeling expense back. But what people may forget, however, is that your home is meant to be enjoyed while you’re living there, and making improvements with the goal of making money back on them isn’t such a smart goal. Better to spend the money for the sake of enjoying the improvements while you’re living in the house, and let the financial return come as it will, if ever.

  13. I’m a little skeptical about these numbers. I have replaced multiple roofs, and they have never been close to 20K!

    But yeah, most home renovations will never pay off 100%. That’s why I try not to spend too much on my home, despite the fact I could remodel and upgrade all year long. At a certain point, it needs to be “good enough.”

  14. So all of these lose money. Sounds like home renovation with the intent to increase resale value is a bad investment. I’d only pursue a project if 1) the home would not sale otherwise 2) there is a risk of damage to the home without performing the work or 3) personal enjoyment.

    • “So all of these lose money.” Yes…it would seem so. They add value to the home but not as much value as you put into the project. I agree with your assessment…I wouldn’t pursue a big project like these except for the reasons you listed.

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