Buying a home to remodel

Is it a good deal?

Read on to find out

Because of good home sales, a resurgence of consumer confidence, and low interest rates, the home-improvement industry is booming. "USA Today" reports that the dollar value of remodeling will surge to about $117 billion -- 8% over last year's level.
Before selling a house, it's frequently a good idea to do some simple fix-ups on it, such as painting and installing new carpet. But people who have just bought homes will sometimes do a lot of heavy remodeling to bring the home up to more modern standards. That can be profitable. In addition to having the enjoyment of living in the upgraded home, these owners can often recoup much of the cost of remodeling when the house is sold. The chart below shows how much various improvements can bring. And, as costs increase over the years, the improvements will increase in value too!

Projects with the highest return
	Average cost	% of cost recouped
Upgrade Kitchen	$6,368	101%
Revamp Kitchen	$20,078	93%
Upgrade bathroom	$6,269	85%
Add bathroom	$11,441	92%
Add family room	$28,736	86%
Add master bedroom suite	$19,210	85%
Add sun room	$21,998	71%
Re-side exterior	$8,592	67%
Source: National Association of the Remodeling Industry

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