Jersey Shore homeowners choose to make home improvements to their homes for many different reasons and some justify the remodel as an “investment” they will get back once they sell their home. However, some home improvements don’t put a substantial amount of money back in your pocket once your home sells.
If you are planning home improvements to your Jersey Shore home or even adding an addition, here are some projects you should be aware of that typically have the lowest return on investment when a home sells.
Adding a home office will provide you with one of the lowest returns at resale. Home offices are becoming more popular as more people start working at home. According to homeadvisor.com the average addition of a home office will run you anywhere from $108 sq ft to $261 sq ft. If you choose to create a home office, make it so it can be easily converted into a bedroom to increase your return on your investment.
Updating a bathroom is always a good idea but adding a new bathroom from the ground up won’t return you as much money as you think at the time of sale. The average cost of adding on a bathroom to a home is $52,000 and only about 52% of that is recouped at the time of resale.
In-Ground Swimming Pool
There is nothing more relaxing than taking a refreshing cold dip in your private pool during the hot days of summer. You can expect an in-ground pool to cost you upwards of $20,000 or more for upgrades. If you live in an area where everyone on your block has an in-ground pool, don’t expect your home’s value to sky rocket when you add one. Many times homeowners recoup only 30% of the value of it back at the time of resale.
When we lose power to our homes during the dead of winter or the heat of summer it can make life very uncomfortable. When we lose power for an extended period of time, many homeowners dream of buying a whole house generator and a few make the leap to purchase one. A high-quality generator used as a back-up to your home can cost on average $12,135. You can expect to recoup about 59.9% of your purchase price at the time of resale according to Yahoo Finance.
Adding a sunroom on to your Jersey Shore home may add more space to your home but it will be costly. The average sunroom addition can cost $75,726 and offers only a 48.5% return on investment. This isn’t the sunroom kit you can purchase from a local hardware store. This is an addition to your home that consists of a new roof, foundation, and windows.
If you are unsure if a particular home improvement is worth it when it comes to adding a large return value at the time of resale, contact us.
The Ferzoco Group is only made of the best experienced real estate agents who are here to work for you. Contact us today via email or give us a call directly at (609) 399-5454 so we can provide you with an exceptional experience.