Tips for Building Room Additions that Will Have a High ROI
If you want to remodel your home but you are looking for something that will bring you a high ROI (return of investment), you should be definitely looking for room additions. Today, we will discuss the most common choices when it comes to home additions. Here are some suggestions:
- A roof replacement will cost you about $21,000 but will bring you a ROI of approximately 60%.
- Creating an attic bedroom will cost you about $52,000 but will bring you a ROI of about 73%.
- A master suite addition is probably one of the most costly room additions you can consider because it can reach an amount higher than $100,000. The fact that almost 70% of this investment pays off makes it worth the money!
- Building an additional bathroom can reach up to $40,000, but its percentage of ROI is nearly 63%.
- Replacing the siding of your home will cost you more than $11,000, but the ROI for this job is nearly 73%.
- A family room addition is also quite a popular home improvement project which costs about $85,000 on average. The ROI of this project is more than 61%.
- A major kitchen remodel costs about $59,000, while a minor one is just $20,000. Small remodeling projects have a higher ROI (72%) while the bigger ones have about 62%.
- Creating an office space at your home can cost you more than $25,000 but if you are a freelancer who needs some privacy space, it is totally worth the investment. The ROI of this type of addition is more than 45%.
- A basement game room or gym remodel. This is a really useful addition which costs about $ 65,000 but has a really high ROI of about 80%.
- Small repairs that require just a little investment like a window or entry door replacement may cause less than $1,000 but have the highest ROI (more than 100%).
For more information regarding the current prices of room additions and the time it will take to upgrade certain rooms in your home, you can refer to A-Towne Builders’s local team or remodeling professionals at (205) 545-4146. We are conveniently based in Birmingham, AL, so we can also come for an inspection if you want to have an accurate upfront price for your home upgrade project!