Don’t expect your home’s value to increase by the amount you spend on the project, and you won’t be disappointed.
Remodeling projects almost never pay for themselves, let alone make money when you sell your home, says Remodeling Magazine’s Cost vs. Value Report.
You’ll recoup more of your costs if you keep your project in line with what’s standard for your neighborhood. Resist the temptation to overimprove.
The projects with the highest returns — replacing your front door with a mid-range steel door, replacing your siding with fiber-cement siding and adding a wooden deck — still recoup nor more than 85% of remodeling costs when the home is sold.
If selling is your main concern, fix any maintenance problems before you remodel. Buyers don’t want to spend money replacing missing shingles or repairing leaky faucets. If your home is seriously outdated, modernization projects might help it sell faster, even if you don’t recoup all of your expenses.