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Tips to Homeowners

November 08, 1987|Armand L. Fontaine

Question: I am contemplating remodeling to my home and would like to know what projects will increase property values if I decide to sell my home within three years.

Answer: The home-improvement contractor magazine, Remodeling Contractor, annually lists the projects, based on a nationwide poll of average costs and returns on investment when your home is resold.

Again, this year the greatest return on investment for a home-improvement project is in adding a fireplace. According to the magazine, the average cost of adding a fireplace is $3,350, and the return on the investment on resale is 138%.

The second best investment is adding a full bath at an average cost of $8,200, with a return of 122%. A minor kitchen remodel that costs an average of $7,300, returns 92%, while a major kitchen remodel that costs $19,500, returns 90%.

Reroofing returns 85% and a bathroom remodel returns 80%. A $29,000 room addition will return 72%. Of the many projects listed, the lowest return is 33%, on a $19,500-swimming pool.

These are national averages and the figures relating to swimming pool additions are probably much higher in California than they would be in other states where weather conditions are not as favorable.

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