Thursday, December 30, 2010

2010-2011 Remodeling Cost vs. Value Report

Ever wondered how much home improvement projects cost and how much of that value you could recoup at resale?  Here is the annual report from Remodeling magazine.  They have been studying this for years and their annual report is the benchmark for all others.  This information is extremely helpful for budgeting and evaluating projects.  But, as you will see very few projects re-coup 100% of the cost.  Therefore, remember that improving your home has "Value" in many other ways too.

If you would like to see the whole report and the specific data for your region you can click here.


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National Data

This site compares the average cost for 35 popular remodeling projects with the value those projects retain at resale. Choose your state to display data for one of 9 regions; choose any one of 80 U.S. cities to download a PDF with local data. Click on a project name to see a project description and 3-D model. To read the article in the November 2010 issue of Remodeling, click on “The Magazine” just above the search bar. For more information on the Remodeling 2010–11 Cost vs. Value Report, click on any of the links listed at right.
East
South
Midwest
West

2010-11 National Averages

Midrange Projects
ProjectJob CostResale ValueCost RecoupedChange vs. 2009-10
Attic Bedroom$51,428$37,14272.2%Change
Backup Power Generator$14,718$7,13648.5%Change
Basement Remodel$64,519$45,18670.0%Change
Bathroom Addition$40,710$21,69553.3%Change
Bathroom Remodel$16,634$10,66864.1%Change
Deck Addition (composite)$15,620$10,33766.2%Change
Deck Addition (wood)$10,973$7,98672.8%Change
Entry Door Replacement (fiberglass)$3,576$2,14760.0%Change
Entry Door Replacement (steel)$1,218$1,243102.1%Change
Family Room Addition$85,740$53,62462.5%Change
Garage Addition$60,608$35,87659.2%Change
Garage Door Replacement$1,291$1,08383.9%Change
Home Office Remodel$28,888$13,23545.8%Change
Major Kitchen Remodel$58,367$40,12668.7%Change
Master Suite Addition$108,090$68,14663.0%Change
Minor Kitchen Remodel$21,695$15,79072.8%Change
Roofing Replacement$21,488$12,78059.5%Change
Siding Replacement (vinyl)$11,357$8,22372.4%Change
Sunroom Addition$75,224$36,54048.6%Change
Two-Story Addition$165,243$107,33865.0%Change
Window Replacement (vinyl)$11,066$7,92071.6%Change
Window Replacement (wood)$12,027$8,70772.4%Change
Upscale Projects
ProjectJob CostResale ValueCost RecoupedChange vs. 2009-10
Bathroom Addition$78,409$41,56253.0%Change
Bathroom Remodel$53,759$30,73857.2%Change
Deck Addition (composite)$38,382$22,15457.7%Change
Garage Addition$90,053$48,27853.6%Change
Garage Door Replacement$3,545$2,47669.8%Change
Grand Entrance (fiberglass)$7,700$4,97964.7%Change
Major Kitchen Remodel$113,464$67,74659.7%Change
Master Suite Addition$232,062$122,37052.7%Change
Roofing Replacement$38,022$21,12055.5%Change
Siding Replacement (fiber-cement)$13,382$10,70780.0%Change
Siding Replacement (foam-backed vinyl)$13,973$10,11972.4%Change
Window Replacement (vinyl)$14,284$10,36872.6%Change
Window Replacement (wood)$18,226$12,30367.5%Change