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A few days ago we wrote an article on the projects that provide the best returns, today we’ll be discussing the 5 projects that have the worst returns. Every year the great folks at Remodeling Magazine put together a report titled, Cost vs. Value. The report investigates and ranks the best and worst projects for the home as it relates to the value it creates compared to it’s cost. We’ve parsed through the data to come up with the projects where you get the least bang for your buck. Take a look for yourself at the rest of the list, as well as your specific region.
#5–Major Kitchen Remodel– Cost recouped= 68.9%
Remodel Magazine states that a major kitchen remodel as: “Update an outmoded 200-square-foot kitchen with a functional layout of 30 linear feet of semi-custom wood cabinets, including a 3-by-5-foot island; laminate countertops; and standard double-tub stainless-steel sink with standard single-lever faucet. Include energy-efficient wall oven, cooktop, ventilation system, built-in microwave, dishwasher, garbage disposal, and custom lighting. Add new resilient flooring. Finish with painted walls, trim, and ceiling.”
#4–Composite Deck Addition– Cost recouped= 64.4%
Construction of an average size (16’x20′) deck with a job cost of $16,798 netted an average return of $10,819.
#3–Master Suite Addition– Cost recouped= 64.1%
Remodel Magazine describes a master suite addition as: “Add a 24-by-16-foot master bedroom suite over a crawlspace. Include walk-in closet/dressing area, whirlpool tub in ceramic tile platform, separate 3-by-4-foot ceramic tile shower, and double-bowl vanity with solid-surface countertop.” Average cost of $115,810 saw an increased resale return of $74,224.
#2–Backup Power Generator– Cost recouped= 59.4%
Average job cost of $12,721. Resale value increase of only $7,556.
#1–Bathroom Addition– Cost recouped 56.2%
Add a full 6-by-8-foot bathroom has an average job cost of $42,233 and a resale value of $23,727.