The average return on investment for a home renovation has fallen from more than 80% in 2006 to a mere 60% today. Ergo, a blowout kitchen remodel makes no sense.
But with contractors hurting for business, you can get work done at a cut-rate price. Instead of stressing about payback, choose one of these $10,000 projects that will make your current digs look sweeter and could help your home sell faster someday.
Add a deck or patio: Almost two-thirds of home buyers are looking for outdoor entertaining space, according to a survey last year by ZipRealty. No surprise, then, that a new deck has an ROI of 73%, according to Remodeling magazine.
Give your kitchen a mini-facelift: Ten grand will get you a granite countertop, an under-mount sink, a tiled backsplash and maybe even new light fixtures.
"Get rid of the old Formica countertop, and all of a sudden the cabinets look much newer too," says Montclair, N.J., realtor Denise Riordan.
Repair your roof: Have a roofer secure loose shingles and flashing, and plug any leaks. Paint over any stains, and install new gutters with leaf guards.
"If buyers see even small problems with a roof, they'll want you to replace the whole thing," Riordan says.
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