thousands of dollars. So, to maximize the return on such a significant investment, carefully consider just how much you are willing to spend and what is in demand in your market. Also, remember these are averages, so you may recapture more or less on your investment.
Another consideration when looking to add value to your home (and make it more functional while you live there) is to add entirely new rooms. Clearly, this is a large step involving an even larger investment in nearly every possible case. Room additions are not cost-effective if you plan to sell within the next few years. That said, if you plan on staying where you are for a while to enjoy your additions, they can result in a reasonable ROI. Some are more financially worthwhile than others, as below:
Primary bedroom suite: 52% Deck: 70% Bathroom: 62%
As you can see, there is a relatively large range in the ROI involved, though not as large as a less ambitious remodel. A careful reading of the data shows that some of the most expensive projects (a sunroom addition averaged over $72,000 nationwide) provide the lowest returns. Of course, there is a wide variance in building costs. According to Remodeling magazine, a 200-square foot sunroom addition with footings and slabs-on-grade foundation can cost up to $70,000. However, a survey conducted on HomeAdvisor.com found the average cost of sunroom additions ran around $16,315. Remember to allow extra cash for unforeseen expenses that could arise.
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