A recent study shows an interesting return on investment when adding finished living space to a home.
Homeowners who added space by going up increased the value of the home much more than homeowners who renovated going down for the added living space. The details of the Zillow study reveals basement renovations returned only 48 cents for every dollar spent, while adding a storey increased value by $1.02 per dollar spent.
It may not be possible to add another full storey to a home, but often adding dormers and opening up an attic area is quite possible and could be a much better investment than the basement project.
As with any renovation it is always advisable to consult with a qualified contractor to get a complete overview for your home.
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