· by Michael Blair, Nashville's Remodeling
Return varies enormously by project, and the pattern is consistent: exterior and functional improvements return better than interior luxury, and correcting a deficiency returns better than adding a feature.
What returns well
Garage door replacement, entry door replacement, siding, and a minor kitchen refresh — new fronts, worktop and hardware rather than a full gut. All visible, all readily understood by a buyer.
Correcting something a buyer would flag — drainage, a dated bathroom, a failing roof — returns better than adding something new.
What returns poorly
High-end kitchen and bathroom work beyond the neighborhood norm. Pools in many markets. Highly personal features. Converting a bedroom into something that is no longer a bedroom.
Anything that makes the house unusual for its street tends to narrow the buyer pool rather than raise the price.
- Exterior and functional work returns best
- Minor kitchen refresh beats a full gut on return
- Fixing a deficiency beats adding a feature
- Do not exceed the neighborhood ceiling
- Never reduce the bedroom count
The neighborhood ceiling
Every street has a price above which buyers do not go, and spending past it does not lift a house above its comparables.
In a rapidly changing Nashville neighborhood that ceiling may be moving, which is worth understanding before committing to a large project.
Enjoyment is a legitimate reason
Return matters most if you are selling soon. If you will be there ten years, the right question is what you will use, not what returns.
The honest framing is to decide which project you are doing before you look at the numbers.