Be Careful of These Home Renovations That Could Hurt Your Value

When you’ve owned a home for a while, it’s a given that you’ll eventually want to make some updates. And while your renovations will naturally reflect your lifestyle and personal choices, remember that your home is also an investment in your financial future. Plenty of home improvements add value, but others may work against you.

Before you schedule demo day, be careful of these projects that could negatively impact your value.  

Over-the-top kitchen renovations

If you love to cook, a chef-quality kitchen is probably important to you. But if you think a high-end kitchen will lead to a significant return come listing time, you might be in for a surprise. According to Remodeling magazine’s Cost vs. Value report for 2020, a major, upscale kitchen remodel cost about $135,500, providing only a 53.9% return on investment. A midrange, major renovation ran about $68,500 and yielded only a slightly higher return at 58.6%.

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