Home renovation projects almost always cost more than they return in increased home value. According to the NAR (National Association of Realtors) for every $1,000 homeowners spend on reno projects they get back $638.
Here is the average return per $1000 on typical reno projects:
- Heavy insulated steel entry door – $1,289
- Finish an attic bedroom – $831
- Remodel kitchen or bathroom – $710-$720
- Remodel a home office – $481
- Buy a backup power generator – $589
Some renovations actually reduce the resale value of a home – for instance, in some cases turning a bedroom into a home office.