7 Renovations You Don’t Want To Waste Your Money On

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Home renovation is a $400 billion business. But that doesn’t mean every renovation is a successful one. So how do you know which ones bring home the ROI and which ones you shouldn’t waste your time – and money – on?

We consult Remodeling magazine’s Cost versus Value Report to find the highest return on investment for home projects. But how about the ones that don’t pay you back?

Here are seven you should be wary of.

1. Mid-Range Bathroom Remodel

7 Renovations You Don’t Want To Waste Your Money On// <!—->// //

“The average cost is $16,634 with an average resale value of $10,668. The cost recouped is 64%,” said WCVB. A high-end bathroom remodel fares even worse, with a $76,429 spend providing a 59.8% ROI.

2. Master Suite Addition

“The average cost is $108,090 and the average resale value is $68,146, putting the cost recouped at 63%,” said WCVB. Where it’s feasible to create an attic bedroom instead, the ROI is significantly better, at 77.2% with $55,696 spent on a midrange project.

3. Family Room Addition

With an average cost of $85,740, a family room addition typically pays back $53,624 for a 62% ROI. Direct those funds toward a deck addition instead, and this desirable amenity will pay you back with an 80.05% ROI and will cost just $10,048 on a midrange project.

4. Garage Addition

You’ve got to really want a garage knowing that “the average midscale job cost is $60,608 with an average resale value of $35,876. The cost recouped is 59%.”

5. Bathroom Addition

Looking to add a bathroom instead of renovating one? This will cost $40,710 but only return 53% or $21,695. Perhaps you might want to reconsider that expensive tub and shower, fancy vanity, and tricked-out toilet, and instead do a couple of easy fixes—painted cabinets, and new lighting and hardware.

6. Sunroom Addition

While the idea of a serene spot to soak in the sun sounds ideal, the ROI is not. The $75,224 spend will only bring you back $36,540, for a 49% ROI.

7. Home Office Remodeling

The only project with a lower ROI than a sunroom is home office remodeling. With an average cost of $28,888, the ROI is only 46% or $13,235. Perhaps working from the couch isn’t so bad after all.

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About thenoelteam

As a Broker with RE/MAX Alliance, I work energetically for my clients whether they are a buyer or seller. I help you achieve your goal of owning a home or getting the best price for your home in the shortest time possible. After graduating from UCLA with a degree in communications and finance, I was licensed in 1977 and since then I have sold over 3600 properties amounting to over $1 billion in sales. I currently rank in the top 10 in home sales for Colorado. I offer the same quality of service and superior communication to all clients, ranging from starter homes to multi-million dollar estates, commercial and income properties, relocations and foreclosures My goal is to provide you with the best representation possible whether you are buying or selling. Over the years, one of the things that I've discovered is that there is a difference in the way individual Realtors do business. For me, I have always felt that honesty and personal integrity are the foundations upon which a successful business and career are built and sustained. I have an extensive background and knowledge base in real estate, including financing, which has enabled me to provide outstanding, quality advice and service not found with many agents today. My commitment to communication creates a positive relationship between my client and myself that results in a successful property sale or purchase. My passion for real estate, commitment to my clients and personal integrity has helped me to achieve success placing me in the top 1% of all brokers in nationwide. In my career, I have earned a number of awards and received considerable recognition for my success but the most significant recognition comes from the fact that over 75% of my business comes from past clients. My success is a true measure of my client satisfaction.
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