Should you remodel?

Cost vs. Value data show the benefits!

For the second consecutive year, the Cost vs. Value data show that the value of remodeling is up. This trend signals an end to the long slide in the cost-value ratio, which began to fall in 2006 and didn’t begin to rebound until last year. For 2014, the cost-value ratio stands at 66.1%, a jump of 5.5 points over last year and the largest increase since 2005. In what is perhaps the most positive sign in this year’s data, rising resale value is driving the overall market improvement.

  JOB
COST
RESALE
VALUE
COST
RECOUPED
Bathroom Addition $ 36,604 $ 20,527 56.0%
Bathroom Remodel $   15,393 $   9,844 64.0%
Major Kitchen Remodel $ 53,170 $ 38,156 72.0%
Minor Kitchen Remodel $   18,215 $ 14,448 79.0%
Entry Door Replacement (Fiberglass) $   2,792 $   1,965 70.0%
Entry Door Replacement (Steel) $   1,133 $     994 88.0%
Garage Addition $ 48,573 $ 32,386 67.0%
Garage Door Replacement $   1,485 $   1,190 80.0%
Roof Replacement $ 17,888 $ 11,585 65.0%
Sun Room Addition $ 71,269 $ 34,424 48.0%
Home Office Remodel $ 27,023 $ 12,676 47.0%
Window Replacement (Vinyl $   9,680 $   7,298 75.0%
Window Replacement (Wood) $ 10,599 $ 8,124 77.0%

Contact me for additional information about the resale value of home improvements or specific market information about your area or zip code!

Speak Your Mind

*