Home Improvement Lesson of the Week

It’s August — time to start getting ready for a new school year. It’s also a great time to tackle that home improvement project you’ve been putting off all summer.

To help you do your homework, we’re sharing remodeling lessons this month from “Zillow Talk: The New Rules of Real Estate.” Here’s the first tip:



There’s no shame in getting that man cave you’ve always wanted. Plus, basement remodels are cheaper upfront: They tend to cost around $10,000 while adding a second or third story can reach five times that amount.

But if you’re looking to increase your home’s resale value, adding another floor is where it’s at. Data shows a basement renovation typically returns $0.48 for every dollar spent, while a story addition gives you $1.02 per $1.00.

Moral of the story? Aim high on your next home addition if you want to come out ahead.

Source: Zillow Blog, Catherine Sherman
http://www.zillow.com/blog/lesson-of-the-week-181341/