Are Pricey Home Upgrades Really Worth It?

“Real estate investing, even on a very small scale, remains a tried and true means of building an individual’s cash flow and wealth,” writes Robert Kiyosaki author of Rich Dad, Poor Dad. (See also: The 8 Classic Personal Finance Books You Must Read) But like with any other type of investment, you need to know what you’re doing, or you’ll end up eating your shirt. For example, you may think that some high-end projects, such as adding a deck that offers a majestic view or doing an upscale bathroom remodel, may provide you a great return on your real estate investment. However, the evidence from the 2016 Remodeling Cost vs. Value report from the National Association of Realtors (NAR) shows the contrary. By taking a look at the project costs in 102 U.S. real estate markets, the NAR report provides a comprehensive review of what features provide you the best bang for your real estate buck. Let’s round up a handful of “features” that can really boost the cost of a home, but may not actually deliver a lot of value. And we’ll look at the projects you should take on, instead.

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