Should I Sell or Renovate?

There are a lot of factors that impact the answer to this question. If you absolutely love your neighborhood, and can't find a suitable home in your price range nearby, renovation may be the answer for you. However, if you are renovating simply in order to sell in the next year or two, you should be aware that money spent on renovations will likely not be fully recouped by an increased selling price for your home.

The following statistics were collected in 2002. They indicate the percentage return that home owners received on renovations conducted in their home.

Bathroom addition: 94%
Two story addition: 94%
Bathroom remodel:  88%
Basement remodel: 79%
Family Room addition:  79%
Siding replacement:  79%
Master suite remodel: 75%
Window replacement: 74%
Major Kitchen remodel:  67%
Roof replacement: 67%