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9. Adding Space to Add Value

A two-story addition that includes a new bedroom and full bath upstairs and a family room with a fireplace downstairs is a huge investment, costing, on average, $147,000 nationally. You'll see about $104,000 of that investment returned to you at sale time, or 71 percent, according to the CVR.

Before you start a large project, know the value of your home and the value of the biggest, best home in your immediate neighborhood. Add your current home value and the cost of the addition. If that number is more than what the best home in your neighborhood is worth, you're unlikely to recoup your money. Instead of remodeling, consider whether you should move to a new home.

More Smart Home Updates:

1. Spruce up or replace your siding.
2. Add a deck.
3. Tweak your kitchen.
4. Repair or replace windows.
5. Overhaul your kitchen.
6. Strip the bathroom.
7. Find cash in the attic.
8. Earn bucks from the basement.
9. Add space to add value.
10. Add low-cost landscaping.

More About Home Finance:

• FrontDoor's Home Value Guide
• Top 10 Value-Adding Updates
• Best Home Updates Under $500
• How Much is My Home Worth?
• 5 Worst Home Updates