Joseph Talbot, Real Estate Broker - HOME IMPROVEMENTS THAT IMPROVE VALUES

CHAPTER 10 Bedroom and Attic Renovations When planning home improvements to increase sale value, renovations of the bedrooms and attic spaces are often overlooked. However, these remodelling efforts can make the house more appealing and help it stand out to buyers during an open house or viewing. Adding a room to your home can easily cost many thousands of dollars. If you build a new primary suite, you might see a 66% return on your investment. If you add a family room, expect a 62% or less ROI. However, adding another bedroom to your home is the exception to the rule. Another bedroom makes your house much more appealing. You can save money on renovations by dividing a large space with a wall to form an extra room. To qualify as another bedroom, however, the room will need a window that meets the building code for egress and minimum square footage requirements. It is also a good idea to have a closet as well, but not mandatory.

RENOVATING YOUR BEDROOM

Making renovations to increase the sale value of a home requires careful attention to the ROI. As we have seen, kitchen upgrades or adding a swimming pool rarely add the cost of construction to the selling price, often returning an ROI of less than 25%. By expanding your bedroom, you're looking at an ROI anywhere between 40% and 80%. Smaller projects that can bring a decent ROI include: expanding the bathrooms and installing large, deep 68

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