What Increases and Decreases Your Home’s Value?

Things that increase and decrease home value

Visit ComFree to see more of this beautiful Alberta home

Did you know that adding a third full bathroom to a 3- or 4-bedroom home increases your home’s value by $43,000? Find out what else might increase or decrease your home’s value.

What increases your home’s value?*

  • – The average new single family home has 2,150 square feet.
  • – The average new home has a garage, fireplace, separate dining and three miscellaneous rooms.
  • – The average new home is in a neighborhood where a supermarket is less than 15 minutes away.
  • – A complete third bathroom in a three- or four-bedroom home adds $43,000 to a home’s value.
  • – A waterfront adds $90,000 to a home’s value.
  • – Being near public transportation adds $26,000 to a home’s value.
  • – Adding 500 square feet of living space to a home adds $13,000, unless it’s an extra bedroom, which adds less $10,000.

What decreases your home’s value?

  • – Removing a fireplace reduces a home’s value by $24,000.
  • – An abandoned building within half a block reduces a home’s value by $28,000.
  • – Without shopping nearby, metal bars on windows, poor roads or bad smells can hurt a home’s value by more than $6,000.

*National Association of Home Builders

6 comments

  1. Jenny says:

    ROI is only a portion of what you should consider. In todays market and in many neighbourhoods, there is no way a house with an added bathroom will become worth $40,000 more than a comparable with two bathrooms. You must consider comparables and current market in your city when making your decisions to renovate, not just base it on an ROI statistic.

  2. Rosy Saadeh says:

    Hi Fred, thanks for the compliment, I think. 😉

    However, considering that the cost of a new bathroom addition ranges from $40,700 to $78,400, and the ROI averages 53%, according to Remodeling Magazine’s annual Cost vs. Value Report, it does stand to reason that someone may be able to bank an extra $40,000.

  3. Fred says:

    Wow… Comfree is doing so many great things, but this horribly written blog entry really brings down the validity they are trying to achieve as an expert real estate option. A complete 3rd bath adds FORTY THREE THOUSAND? LOL
    Just because it is from the National Association of Homebuilders doesn’t mean it should be posted on a RESALE site.
    C’mon ComFree, step it up!

  4. Rosy Saadeh says:

    LOL, I actually read that somewhere, but I thought it was actually 38%. 😉

  5. Mike Kohan says:

    Did you know that 83% of all statistics are made up?

  6. Roy says:

    This is a fantastic handful of statistics, although I am not certain what the numbers are based on. Thanks!

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