2. Upscale Master Suite Addition
- Cost of upscale master suite: $137,891
- Average resale value: $110,512
- Percentage of cost recovered: 80.1%
- Best return: 124.4% in Seattle
- Worst return: 48.4% in Detroit
Creating a dream master suite with a sitting area, a large master bath with custom stone vanities, custom bookcases, a gas fireplace and a large walk-in closet will leave you with a fabulously high remodeling tab that won't be repaid when you resell your home ? unless you live in a luxury home in a high-cost area where the real estate market is hot.
A luxury master suite that makes you the envy of the neighborhood won't make you money. Don't over-improve for the neighborhood, you'll never see return on your investment. Consider other homes in the area before making such a significant improvement.
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