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What will a remodeling project add to the value of your client's home?
By Sal Alfano
"Remodeling Magazine"
2006 Cost Versus Value Report
There are many variables which impact how much of a return homeowners can expect from a remodeling project. These include home value, value of surrounding homes, if the value of homes in the area is increasing or decreasing, and the quality, design, and value of the work done by the contractor who does your project.
Please note the values provided below are approximations and are relative to the specific area and home values. Values below are based on opinions of 200 plus real estate agents and appraisers in various markets throughout the country. These numbers come directly from Remodeling Magazine's 2006 Cost vs. Value Report.
• This data comes from the 2006 Cost vs. Value Report.
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2006 National Averages
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Region - Middle Atlantic
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Project
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Job Cost
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Resale
Value
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% Cost Recouped
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Job Cost
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Resale
Value
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% Cost Recouped
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Mid-Range
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| Attic Bedroom Remodel |
$44,073 |
$35,228 |
79.9% |
$47,494 |
$34,517 |
72.7% |
| Basement Remodel |
$56,724 |
$44,685 |
78.8% |
$60,879 |
$44,788 |
73.6% |
| Bathroom Addition |
$28,918 |
$21,670 |
74.9% |
$31,038 |
$22,051 |
71.0% |
| Bathroom Remodel |
$12,918 |
$10,970 |
84.9% |
$13,843 |
$11,163 |
80.6% |
| Deck Addition |
$14,728 |
$11,307 |
76.8% |
$15,033 |
$11,817 |
78.6% |
| Family Room Addition |
$74,890 |
$53,519 |
71.5% |
$78,689 |
$55,995 |
71.2% |
| Home Office Remodel |
$20,057 |
$12,707 |
63.4% |
$20,902 |
$13,312 |
63.7% |
| Major Kitchen Remodel |
$54,241 |
$43,603 |
80.4% |
$56,298 |
$44,766 |
79.5% |
| Master Suite Addition |
$94,331 |
$68,458 |
72.6% |
$99,944 |
$70,935 |
71.0% |
| Minor Kitchen Remodel |
$17,928 |
$15,278 |
85.2% |
$18,541 |
$15,323 |
82.6% |
| Roofing Replacement |
$14,276 |
$10,553 |
73.9% |
$16,056 |
$11,536 |
71.9% |
| Siding Replacement (vinyl) |
$9,134 |
$7,963 |
87.2% |
$9,483 |
$8,748 |
92.3% |
| Sunroom Addition |
$49,551 |
$32,854 |
66.3% |
$51,517 |
$33,825 |
65.7% |
| Two-Story Addition |
$105,297 |
$87,654 |
83.2% |
$110,955 |
$88,617 |
79.9% |
| Window Replacement (wood) |
$11,040 |
$9,416 |
85.3% |
$11,610 |
$10,095 |
87.0% |
| Window Replacement (vinyl) |
$10,160 |
$8,500 |
83.7% |
$10,682 |
$9,523 |
89.2% |
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Upscale
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| Bathroom Addition |
$60,535 |
$44,041 |
72.8% |
$63,628 |
$44,877 |
70.5% |
| Bathroom Remodel |
$38,165 |
$29,529 |
77.4% |
$40,305 |
$29,681 |
73.6% |
| Major Kitchen Remodel |
$107,973 |
$81,896 |
75.9% |
$110,928 |
$80,538 |
72.6% |
| Master Suite Addition |
$176,268 |
$128,096 |
72.7% |
$183,489 |
$123,712 |
67.4% |
| Roofing Replacement |
$24,693 |
$18,012 |
72.9% |
$27,819 |
$19,848 |
71.4% |
| Siding Replacement (fiber cement) |
$13,149 |
$11,573 |
88.0% |
$13,280 |
$11,751 |
88.5% |
| Siding Replacement (foam-backed vinyl) |
$11,139 |
$9,258 |
83.1% |
$11,485 |
$9,946 |
86.6% |
| Window Replacement (wood) |
$16,910 |
$13,952 |
82.5% |
$17,607 |
$14,879 |
84.5% |
| Window Replacement (vinyl) |
$13,129 |
$11,109 |
84.7% |
$13,870 |
$12,132 |
87.5% |
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Click here to view the article
*Cities covered in Region
Albany
Allentown
Buffalo
Harrisburg
New York
Philadelphia
Pittsburgh
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"Now that our bathroom remodeling is complete, I just wanted you to know how happy we were with the whole thing."
