If you’re looking for a good ROI, you may want to steer clear of these
Homeowners may want to tap the brakes on those trendy white Carrara marble countertops if they’re looking to get a return on investment for home renovations.
That’s according to a recent report from NerdWallet, which pulls from Remodeling magazine’s 2019 Cost vs. Value report when stating, “An upscale kitchen renovation recoups just 59% of its cost in added value.”
Next on the list is one that’s more likely for the average home seller: DIY painting. The report cites data from Opendoor asserting that a low-quality paint job can result in the seller losing out on as much as $1,700. This may be bad news for the 47% of homeowners who stated at the beginning of last year that they were more likely to take on a project than hire it done.
And while various HGTV shows may have homeowners ready to bust down some walls, the NerdWallet report advises against it in regard to an expanded master suite. If the renovation results in the loss of another bedroom, sellers could end up with their home listed at a lower price point.
