I was recently asked if a particular renovation would add value to the home. A very wise question, as many homeowners spend a lot of money on renovations expecting that value is being added. However this is not always the case.
The following is a list of the top 4 renovations that you can expect payback potential:
1. Bathroom (75-100%)
2. Kitchen (75-100%)
3. Interior Painting (50-100%)
4. Exterior Painting (50-100%)
The four LOWEST payback potential renovations are:
1. Building a fence (25-50%)
2. Asphalt paving (20-50%)
3. Adding a swimming pool (10-40%)
4. Installing a skylight (0-25%)