Are you thinking about remodeling your kitchen or your bathroom? You may want to weigh the pros and cons before splashing out on any costly upgrades. Finances are obviously the most important to take into account, which is why Money Talks News compiled a list of the worst home renovations for your money. Here are 7 of them:
7. Master suite addition (midrange)
Average cost: $136,739
Return on investment: 58.5%
Many homeowners dream about having a master suite however, if you are hoping to make a good return on investment, this midrange addition is not going to pay back well. Things are a little different if enjoyment is what you are after.
6. Bath remodel (upscale)
Average cost: $67,106
Return on investment: 54.7%
The ultimate bath remodel could include expanding your bathroom to 100 square feet and adding features such as a freestanding soaker tub and a 42-by-42-inch tiled shower as well as dozens of other inclusions but this type of remodeling is one of the worst home renovations you can do from a financial standpoint.
5. Bathroom addition (upscale)
Average cost: $91,287
Return on investment: 54.7%
The payback may not be great on an additional bathroom, but it can be a convenient and enjoyable investment provided you can afford $90,000 or more.
4. Bathroom addition (midrange)
Average cost: $49,598
Return on investment: 54%
This addition lies somewhere between luxury and economy. For $49,000 you could add a 6-by-8-foot space to your home with various features including a 30-by-60-inch fiberglass tub-shower, low-profile toilet, new lighting and several other inclusions.
3. Major kitchen remodel (upscale)
Average cost: $135,547
Return on investment: 53.9%
Another luxury project that is worth doing if pleasure is all you are after, but if financial return is your motivating factor steer clear from this major kitchen remodeling.
"Feedback indicated that larger discretionary projects, such as kitchen, bath, and master-suite remodels, tend to be too individualized to provide broad appeal," researchers said, according to Money Talks News.
2. Grand entrance (fiberglass)
Average cost: $9,254
Return on investment: 53.3%
Adding a grand entrance to your home may not be as expensive as other projects but when it comes to investments, this is another one of the worst home renovations you can make.
1. Master suite addition (upscale)
Average cost: $282,062
Return on investment: 51.6%
The cost of adding a high-end master suite to your home far outweighs the return, which amounts to just 51.6%. If you are just after pleasure though, then a 30-by-20-foot new space complete with features such as a spacious sitting and lounging area, stone hearth with gas fireplace and bar should do the trick.
Zoe Papadakis ✉
Zoe Papadakis is a Newsmax writer based in South Africa with two decades of experience specializing in media and entertainment. She has been in the news industry as a reporter, writer and editor for newspapers, magazine and websites.
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