Filed Under: remodeling, Kitchen & Bath, Small Projects, Big Projects, Living Spaces, Outdoors
Photo: Getty Images
For instance, if a DIYer completes a major kitchen remodel for $30,000 and the return is an expected $40,126, that's a big 133% return (approx.) on expenditures.
Seen in those terms, yes, it pays to remodel your home.
Photo: Getty Images
You can make well-informed home improvement choices by calculating how much a certain improvement will increase the value of you house when (or if) you sell. And for DIYers, the payback percentage is even greater. According to the 2010 Remodeling Cost vs. Value survey, outside improvements bring the most return on resale. For instance, if you replace your front entry door with a steel model for $1,218, your home's value should increase $1,243 (or 102% of the investment, according to national averages).
The survey's values are calculated from data provided by more than 3,000 appraisers, sales agents and brokers. In all, the survey covers 35 popular remodeling projects in nine regions of the country. Those areas are further broken down into 80 major cities.
Want to get the most bang for your buck? Install new garage doors. Photo: Getty Images
Project: Garage Door Replacement
Cost: $1,291
Return: $1,083
Recoup Value: 83.9%
Project: Siding Replacement (fiber-cement)
Cost: $13,382
Return: $10,707
Recoup Value: 80%
Project: Deck Addition (wood)
Cost: $10,973
Return: $7,986
Recoup Value: 72.8%
Project: Window Replacement (wood)
Cost: $12,027
Return: $8,707
Recoup Value: 72.4%
INDOOR PROJECTS
Certain indoor projects bring better paybacks than others. On the low side are home office remodels (45.8% return), sunroom additions (48.6% return) and backup generators (48.5% return). Indoor projects with the greatest return include:
Considering a modern vent hood replacement? Save your money. It'll give you the lowest return on investment. Photo: Getty Images
Project: Minor Kitchen Remodel
Cost: $21,695
Value: $15,790
Recoup Value: 72.8%
Project: Basement Remodel
Cost: $64,519
Value: $45,186
Recoup Value: 70%
Project: Major Kitchen Remodel
Cost: $58,367
Value: $40,126
Recoup Value: 68.7%
To research costs for professionally done projects, expected recoup value, and trends in your area, click on your region below.
EAST
New England
Middle Atlantic
SOUTH
South Atlantic
East South Central
West South Central
MIDWEST
East North Central
West North Central
WEST
Mountain
Pacific
To compare projects and regions, go to the Cost vs. Value Report.
SEE ALSO:
5 Projects That Can Devalue Your Home
Remodeling: When It's Worth the Cost (Housing Watch)
The Vanilla Ice Project: Rapper Turned Remodler
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Reader comments (Page 1 of 1)
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ReplyI like the looks Http://www.kitchenremodelinginfoguide.info of some of the kitchen remodels in this article.
Reply