Wednesday, January 19, 2011

Remodeling: national - and local - "Cost Vs Value Report"

This most recent report compares construction costs with resale values for 35 midrange and upscale remodeling projects comprising additions, remodels and replacements in 80 markets across the country. Data are grouped in nine U.S. regions, following the divisions established by the U.S. Census Bureau.

The top interior projects for resale value included an attic bedroom and a basement remodel. Both add living space without extending the footprint of the house. An attic bedroom addition costs more than $51,000 and recoups an estimated 72.2 percent, nationally, upon resale; a basement remodel costs more than $64,000 and recoups an estimated 70 percent. Improvement projects that are expected to return the least are a midrange home office remodel, recouping an estimated 45.8 percent; a backup power generator, recouping 48.5 percent; and a sunroom addition, recouping 48.6 percent of costs.

Replacement projects usually outperform remodel and addition projects in resale value because they are among the least expensive and contribute to curb appeal.

For more information on the subject of remodeling and how much one can recoup, follow this page, which also allows you to download the report for your area of interest (most probably close to San Francisco).

To read the full project descriptions, access national and regional project data, and download a free PDF containing data for any of the 80 cities covered by the report, visit . “Cost vs. Value” is a registered trademark of Hanley Wood, LLC.

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