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Cost vs. Value |
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When remodeling your home, you can either reap big dividends or pennies on the dollar at resale. However, unless you are doing the remodel solely for the resale value, always consider the enjoyment that you will get out of any particular remodel as well. Your quality of life can be equally as important as whether you recover every dollar you put into a project.
The information is obtained from the 2005 Cost vs. Value report from the National Association of Realtors. Kitchen Remodel Minor Kitchen Remodel
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Job Cost
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Resale Value
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Cost Recouped
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| National Average |
$14,913 |
$14,691 |
98.5% |
| South Average |
$13,998 |
$13,498 |
96.4% |
Midrange Major Kitchen Remodel
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Job Cost
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Resale Value
|
Cost Recouped
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| National Average |
$43,862 |
$39,920 |
91.0% |
| South Average |
$41,133 |
$36,329 |
88.3% |
Upscale Major Kitchen Remodel
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Job Cost
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Resale Value
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Cost Recouped
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| National Average |
$81,552 |
$69,164 |
84.8% |
| South Average |
$77,786 |
$65,111 |
83.7% |
Attic Bedroom
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Job Cost
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Resale Value
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Cost Recouped
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| National Average |
$39,188 |
$36,649 |
93.5% |
| South Average |
$34,786 |
$31,319 |
90.0% |
Deck Addition
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Job Cost
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Resale Value
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Cost Recouped
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| National Average |
$11,294 |
$10,196 |
90.3% |
| South Average |
$10,588 |
$8,731 |
82.5% |
Bathroom Remodel Midrange Bathroom Remodel
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Job Cost
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Resale Value
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Cost Recouped
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| National Average |
$10,499 |
$10,727 |
102.2% |
| South Average |
$9,293 |
$9,596 |
103.3% |
Upscale Bathroom Remodel
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Job Cost
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Resale Value
|
Cost Recouped
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| National Average |
$26.052 |
$24,286 |
93.2% |
| South Average |
$23,428 |
$23,087 |
98.5% |
Bathroom Addition
Midrange Bathroom Addition
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Job Cost
|
Resale Value
|
Cost Recouped
|
| National Average |
$22,977 |
$19,850 |
86.4% |
| South Average |
$20,055 |
$17,648 |
88.0% |
Upscale Bathroom Addition
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Job Cost
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Resale Value
|
Cost Recouped
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| National Average |
$47,412 |
$40,488 |
85.8% |
| South Average |
$43,028 |
$37,952 |
88.2% |
Siding Replacement Midrange Siding Replacement
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Job Cost
|
Resale Value
|
Cost Recouped
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| National Average |
$7,239 |
$6.914 |
95.5% |
| South Average |
$6,533 |
$6,028 |
92.3% |
Upscale Siding Replacement
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Job Cost
|
Resale Value
|
Cost Recouped
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| National Average |
$10,393 |
$10,771 |
103.6% |
| South Average |
$9,476 |
$9,765 |
103.0% |
Window Replacement
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Job Cost
|
Resale Value
|
Cost Recouped
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| National Average |
$9,684 |
$8,681 |
89.6% |
| South Average |
$8,973 |
$7,506 |
83.7% |
Roofing Replacement
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Job Cost
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Resale Value
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Cost Recouped
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| National Average |
$11,164 |
$9,456 |
84.7% |
| South Average |
$9,093 |
$7,983 |
87.8% |
Family Room Addition
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Job Cost
|
Resale Value
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Cost Recouped
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| National Average |
$54,773 |
$45,458 |
83.0% |
| South Average |
$48,778 |
$40,239 |
82.5% |
Home Office Remodel
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Job Cost
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Resale Value
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Cost Recouped
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| National Average |
$13,143 |
$9,569 |
72.8% |
| South Average |
$11,500 |
$8,444 |
73.4% |
Master Suite Addition Midrange Master Suite Addition
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Job Cost
|
Resale Value
|
Cost Recouped
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| National Average |
$73,370 |
$60,460 |
82.4% |
| South Average |
$65,037 |
$52,977 |
81.5% |
Upscale Master Suite Addition
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Job Cost
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Resale Value
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Cost Recouped
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| National Average |
$137,891 |
$110,512 |
80.1% |
| South Average |
$127,990 |
$103,373 |
80.8% |
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West Elm Properties, Realtors / James Brinkman is a licensed Texas real estate broker |
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Copyright © 2004 West Elm Properties, Realtors. All rights reserved. |
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