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Remodeling Cost and Return on Investment |
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Building a Tradition of Quality |
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Job Cost Resale Value Cost Recouped Project Job Cost Resale Value Cost Recouped Change vs. 2007 $47,931 $31,201 65.1% Attic Bedroom $48,398 $35,694 73.8%
$13,969 $6,715 48.1% Backup Power Generator $14,040 $8,026 57.2%
$60,436 $39,431 65.2% Basement Remodel $61,011 $44,467 72.9%
$37,567 $20,681 55.0% Bathroom Addition $38,078 $24,187 63.5%
$15,753 $10,211 64.8% Bathroom Remodel $15,899 $11,857 74.6%
$15,154 $10,465 69.1% Deck Addition (composite) $15,277 $11,260 73.7%
$10,378 $7,902 76.1% Deck Addition (wood) $10,601 $8,676 81.8%
$80,624 $49,215 61.0% Family Room Addition $81,315 $53,608 65.9%
$55,907 $34,759 62.2% Garage Addition $57,272 $38,161 66.6%
$28,054 $14,224 50.7% Home Office Remodel $28,094 $15,329 54.6%
$56,307 $40,944 72.7% Major Kitchen Remodel $56,611 $43,030 76.0%
$100,552 $60,525 60.2% Master Suite Addition $101,571 $67,037 66.0%
$21,185 $15,528 73.3% Minor Kitchen Remodel $21,246 $16,881 79.5%
$18,176 $10,256 56.4% Roofing Replacement $18,825 $12,336 65.5%
$10,027 $7,449 74.3% Siding Replacement (vinyl) $10,256 $8,274 80.7%
$71,173 $39,657 55.7% Sunroom Addition $71,745 $40,715 56.7%
$145,632 $94,414 64.8% Two-Story Addition $146,538 $103,553 70.7%
$10,518 $7,421 70.6% Window Replacement (vinyl) $10,537 $8,132 77.2%
$11,518 $8,246 71.6% Window Replacement (wood) $11,512 $8,946 77.7%
Link to full chart, click here
Return to Customer Resource Center |
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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 (see bottom for link to chart on their website) |
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2008 2009 |