There are many factors that go into a decision to remodel. Most home owners love their home and remodeling offers a way to improve their home and family life. The following table provides a brief analysis of the value versus cost of remodeling projects. Bathroom and kitchen remodels normally give good returns, especially if the home owner wants to sell their home. The following table was printed in the Central Oregon New Home Living, Spring Edition 2007. The source is www.costvsvalue.com.
| Remodeling Cost VS Values | ||||||
| 2006 National Averages | Pacific Region | |||||
| Project | Job Cost Value | Resale Recouped | % Cost | Job Cost Value | Resale Recouped | % Cost |
| MIDRANGE | ||||||
| Attic Bedrrom Remodeling | $ 44,073 | $ 35,228 | 79.9% | $ 52,583 | $ 51,698 | 98.3% |
| Basement Remodeling | $ 56,724 | $ 44,685 | 78.8% | $ 66,861 | $ 62,004 | 92.7% |
| Bathroom Addition | $ 28,918 | $ 21,670 | 74.9% | $ 34,311 | $ 31,195 | 90.9% |
| Bathroom Remodeling | $ 12,918 | $ 10,970 | 84.9% | $ 14,889 | $ 15,361 | 103.2% |
| Deck Addition | $ 14,728 | $ 11,307 | 76.8% | $ 16,297 | $ 14,846 | 91.1% |
| Family Room Addition | $ 74,890 | $ 53,519 | 71.5% | $ 88,371 | $ 72,247 | 81.8% |
| Home Office Remodeling | $ 20,057 | $ 12,707 | 63.4% | $ 22,385 | $ 17,403 | 77.7% |
| Major Kitchen Remodeling | $ 54,241 | $ 43,603 | 80.4% | $ 59,716 | $ 58,004 | 97.1% |
| Master Suite Addition | $ 94,331 | $ 68,458 | 72.6% | $111,157 | $ 95,916 | 86.3% |
| Minor Kitchen Remodeling | $ 17,928 | $ 15,278 | 85.2% | $ 19,366 | $ 20,614 | 106.4% |
| Roofing Replacement | $ 14,276 | $ 10,553 | 73.9% | $ 17,060 | $ 15,160 | 88.9% |
| Siding Replacement (vinyl) | $ 9,134 | $ 7,963 | 87.2% | $ 11,173 | $ 9,919 | 88.8% |
| Sunroom Addition | $ 49,551 | $ 32,854 | 66.3% | $ 55,813 | $ 39,412 | 70.6% |
| Two-Story Addition | $105,297 | $ 87,654 | 83.2% | $122,085 | $123,969 | 101.5% |
| Window Replacement (wood) | $ 11,040 | $ 9,416 | 85.3% | $ 12,684 | $ 12,963 | 102.2% |
| Window Replacement (vinyl) | $ 10,160 | $ 8,500 | 83.7% | $ 11,768 | $ 11,338 | 96.3% |
| UPSCALE | ||||||
| Bathroom Addition | $ 60,535 | $ 44,041 | 72.8% | $ 68,852 | $ 59,355 | 86.2% |
| Bathroom Remodeling | $ 38,165 | $ 29,529 | 77.4% | $ 43,050 | $ 40,938 | 95.1% |
| Major Kitchen Remodeling | $107,973 | $ 81,896 | 75.8% | $115,549 | $103,798 | 89.8% |
| Master Suite Addition | $176,268 | $128,096 | 72.7% | $199,312 | $166,000 | 83.3% |
| Roofing Replacement | $ 24,693 | $ 18,012 | 72.9% | $ 28,884 | $ 24,526 | 84.9% |
| Siding Replacement (fiber cement) | $ 13,149 | $ 11,573 | 88.0% | $ 13,539 | $ 13,783 | 101.8% |
| Siding Replacement (foam-backed vinyl) | $ 11,139 | $ 9,258 | 83.1% | $ 13,544 | $ 11,790 | 87.0% |
| Window Replacement (wood) | $ 16,910 | $ 13,952 | 82.5% | $ 19,022 | $ 18,877 | 99.2% |
| Window Replacement (vinyl) | $ 13,120 | $ 11,109 | 84.7% | $ 15,200 | $ 14,679 | 96.6% |
|
Source: www.costvsvalue.com (printed in the Central
Oregon New Home Living, Spring Edition 2007. p. 12.) Notes: 1) Costs and figures from the Remodeling vs Value Report 2006, compliled by Specpan, the National Association of Realtors and Hometech Information Systems. 2) Values greater than 100% are highlighted with grey. |
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