It’s true, most home additions can not only add more square footage and functionality to your home in Olathe or Mission but can also add an average of 5.3% to the median home value with a home addition of 150 square feet of above-ground space.
Unfortunately, not all home improvements are created equally. Many projects don’t have the expected returns, and the more you add doesn’t necessarily mean you’ll gain more value. Ultimately, the amount of median value home additions add to your home in Leawood, Prairie Village, depends on location and current value.
The top 5 home additions that commonly add the most value are:
- Adding a swimming pool provides an increase (on average) of 7.3%;
- Basement refinishing is the next highest return at 6.6%;
- A third bedroom home addition comes in at 6.2% increased value;
- Another full bathroom will give your Overland Park home an additional 5.7% in value;
- Increasing your interior living space in general adds 5.3%.
Other typical renovations range from 4.3% for a full kitchen remodel to home additions that add an attached garage at 2.2%. In some cities in Johnson County, adding a bedroom creates more value on average than expanding your living area. But in others, such as in Lenexa or Mission, larger living room or family room home additions actually create more value than an additional bedroom.
Even if the ROI of a project is negative — as it might be for more expensive homes in Prairie Village, for example — you’ll also want to consider how much you’ll enjoy the upgrade yourself and how soon you plan to sell, whether that’s weeks or years away.
Johnson County Remodeling
913-322-9334
Lenexa, KS 66216
