Different markets value amenities differently. Adding a central air conditioner in Charlotte, NC, may add significant value, while putting one in a home located in Anchorage, Alaska might not have much impact at all.
As a general rule of thumb, the most value returned from renovating a home comes in the kitchen. According to one national survey, kitchen remodels returned an average of 70-75% of the investment. In other words, a $10,000 kitchen remodeling project would add approximately $7,000-$7,500 to the value of the home. Bathrooms were second, returning approximately 70%.
When considering the feasibility of any remodeling project, remember that improvements should be typical for the neighborhood where your property is located.
Are you interested in having an appraisal on your home? Reach out to Ed Odham, a NC Certified Residential Real Estate Appraiser with Home Analytics Appraisal in Charlotte. You can read more about him at HomeAnalyticsAppraisal.com or call him at 704-491-4862.