The Value Of A Remodel
Popular Remodel Costs And Potential Payback:
All remodel jobs have a payback in the functionality they provide the owner. The owner must also consider facts like what the cost would be to replace what you have if you purchased another property.
Here are some samples of costs and returns that we have experienced:
- Bedroom / Bath Addition -
cost $130,000, resale value $90,000
- Kitchen Expansion, Addition
cost $80,000, resale value 50% to 80%
- Basement Remodel (bedroom / bath) -
cost $30,000, resale value 75% to 85%
- Two Story Addition (family room / bedroom / bath) -
cost 150,000, resale value 75% to 85%
- Attic Addition (bed / bath) -
cost 45,000, resale value 75% to 85%
Recovery of remodel cost (resale percentage) is strongly influenced by
neighborhood values and the size, value and condition of your property as
compared to other properties in the neighborhood.
There are surveys done of remodel return values and the better ones document
the variables of construction. But those values are only part of the picture
and those considerations outlined in the previous paragraph can have a large overriding
influence, to the extent that a remodel that would have normally only given an
85% return, could give over a 100% return.
- We will be happy to come out and view your remodel project and prepare a bid for design and construction.
- Please call or email for an appointment.