By Dona DeZube, FrontDoor.com | Published: 11/01/2007
Turning an unfinished attic into a 15x15 third or fourth bedroom with a 5x7 bath really pays off in hot housing markets where older, close-in neighborhoods offer homes with easy commutes but smaller square footage.
The payoff for remodeling this existing space is higher than the payback for adding new space. Even putting in a modestly priced master suite addition typically costs about twice as much as finishing an attic and the return (82.4 percent) is lower.
Copyright 2007 Hanley Wood, LLC. Reproduced by permission. Complete city data from the Remodeling 2007 Cost vs. Value Report can be downloaded for free at www.remodelingmagazine.com/costvsvalue.
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