The following interior projects REALTORS® ranked highest to lowest as remodeling projects that would appeal to home buyers (listed along with project estimate costs and the potential return on investment at resale):
1. Complete kitchen renovation
- Cost estimate: $65,000
- REALTORS® estimated cost recovered: $40,000
- Percent of value recovered from the project: 62%
2. Kitchen upgrade
- Cost estimate: $35,000
- REALTORS® estimated cost recovered: $20,000
- Percent of value recovered from the project: 57%
3. Bathroom renovation
- Cost estimate: $30,000
- REALTORS® estimated cost recovered: $15,000
- Percent of value recovered from the project: 50%
4. New wood flooring
- Estimated cost: $5,500
- REALTORS® estimated cost recovered: $5,000
- Percent of value recovered from the project: 91%
5. Add new bathroom
- Cost estimate of project: $59,000
- REALTORS® estimated cost recovered: $29,750
- Percent of value recovered from the project: 50%
6. Hardwood flooring refinish
- Estimated cost: $3,000
- REALTORS® estimated cost recovered: $3,000
- Percent of value recovered from the project: 100%
7. New master suite/owners’ suite
- Cost estimate: $125,000
- REALTORS® estimated cost recovered: $65,000
- Percent of value recovered from the project: 52%
8. HVAC replacement
- Estimated cost: $7,475
- REALTORS® estimated cost recovered: $5,000
- Percent of value recovered from the project: 67%
9. Basement conversion to living area
- Cost estimate: $40,000
- REALTORS® estimated cost recovered: $25,000
- Percent of value recovered from the project: 63%
10. Closet renovation
- Estimated cost: $3,750
- REALTORS® estimated cost recovered: $2,000
- Percent of value recovered from the project: 53%
11. Insulation upgrade
- Estimated cost: $2,100
- REALTORS® estimated cost recovered: $1,600
- Percent of value recovered from the project: 76%
12. Attic conversion to living area
- Estimated cost: $75,000
- REALTORS® estimated cost recovered: $40,000
- Percent of value recovered from the project: 53%