Remodeling Cost and Return on Investment

Building a Tradition of Quality

 

 

 

 

                 Project Cost      Resale Value     % Recouped           Project Type                                   Project Cost         Resale Value      % Recouped

 

 

                 $58,087                    $42,517                    73.2%                       Attic Bedroom                                         $51,339                    $32,322                    63.0%

                 $71,794                    $41,415                  57.7%                       Basement Remodel                                $64,239                    $38,886                    60.5%

                 $45,552                    $24,482                    53.7%                       Bathroom Addition                                $40,627                    $18,673                    46.0%

                 $18,163                    $11,435                    63.0%                       Bathroom Remodel                               $16,541                    $8,953                      54.1%

                 $11,499                    $7,802                      67.9%                       Deck Addition (wood)                          $10,484                    $6,846                      65.3%

                 $1,350                      $1,175                      87.0%                       Entry Door Replacement (steel)         $1,219                      $962                         78.9%

                 $95,870                    $55,384                    57.8%                       Family Room Addition                         $85,632                    $47,975                    56.0%

                 $30,947                    $13,981                    45.2%                       Home Office Remodel                          $28,885                    $11,399                    39.5%

                 $62,184                    $43,826                    70.5%                       Major Kitchen Remodel                       $58,149                    $36,373                    62.6%

                 $121,035                 $76,674                    63.3%                       Master Suite Addition                           $108,147                 $61,575                    56.9%

                 $22,799                    $17,415                    76.4%                       Minor Kitchen Remodel                       $21,678                    $14,144                    65.2%

                 $184,323                 $117,747                 63.9%                       Two-Story Addition                              $170,094                 $98,427                    57.9%

                 $13,420                    $9,663                      72.0%                       Window Replacement (wood)            $12,045                    $7,233                      60.0%

 

 

 

 

                                                                                         Link to full chart, click here

 

                                                                                                      Return to Customer Resource Center

In initial meetings with customers, we often hear the same issue arise,  “I am worried about over investing in my house”.  Most remodeling projects should be completed because it is what you want to do to the house or because your house would not sell in its current condition.  If resale value weighs on your mind, we often tell customers to consult with a real estate agent if they are in doubt as to their current house value and what it could potentially be worth after remodeling.  In addition to ourselves and the design professionals we work with, real estate agents can also tell you what finish selections are in demand now and what an average buyer might be looking for.  Finish selection definitely can be a big variable in remodeling cost.  The chart below shows average remodeling cost and rate of return for a variety of projects.  This information is up to date and is based on the Saint Louis region.  It is based on mid-range remodeling, which is remodeling an average middle class home.  If you click on the project type, it will link you to a “definition” of that project type.

 

                                 Chart Source: Remodeling Magazine 2010-11 Cost Vs. Value Report

                                                          (see bottom for link to chart on their website)

                        2010                                                                                 2011