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Expected Return on Investment for Home Renovations

If you are considering renovations to sell your Philadelphia Area home, make sure you research your renovation project to ensure you are making a wise financial decision, are able to do the renovation work, or get at a minimum of three price estimates, and given your budget you get the best return on investment!
Some home renovations may improve the quality of life, but they may not increase the value of the home. If the Philadelphia area home you are renovating is in a lower price range neighborhood, don’t make renovations that you would find in homes in a higher price neighborhood. For example, homes that are selling in you area have Formica countertops and standard cabinets in the kitchen.  Then you should not be renovating your kitchen with granite countertops and custom cabinets.

Below is the expected return on investment for some home renovations:
• Exterior Paint (50% – 100%)
• Interior Paint (50% – 100%)
• Bathroom Renovation (75% – 100%)
• Kitchen Renovation (75% – 100%)
• Furnace/Heating System Upgrade (50% – 80%)
• Roof Shingle Replacement (50% – 80%)
• Basement Renovation (50% – 75%)
• Recreation Room Project (50% – 75%)
• Install a Fireplace (50% – 75%)
• Flooring Upgrade (50% – 75%)
• Window/Door Replacement (50% – 75%)
• Build a Deck (50% – 75%)
• Construct A Garage (50% – 75%)
• Install Central Air Conditioning (25% – 75%)
• Build a Fence (25% – 50%)
• Interlocking Paving (25% – 50%)
• Landscaping (25% – 50%)
• Asphalt Paving (20% – 50%)
• Add A Swimming Pool (10% – 40%)
• Install a Skylight (0% – 25%)

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October 5, 2010 - Posted by | Uncategorized | , ,

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