75. Balconies
Year of Popularity: 1920s-Present
Est. Cost: $2,000-$7,000*
Balconies, terraces, and patios are not included when you’re calculating the square footage of the residence. For this one, it depends on the type of balcony you get. If your balcony is decorative only, you’re not going to get a high R.O.I.
Balconies ©Photographee.eu / Shutterstock.com”
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The decorative balcony doesn’t actually have a function—it just looks nice.
However, if the balcony you’re thinking of installing will actually be a place where people can sit and spend time, the balcony adds over one-tenth the value of the home to the property. In coveted areas, this balcony can add as much as one-quarter the value. So, eschew the decorative balcony for one with an actual function.