Thinking of a Remodel: Heres a Must See Chart on Cost Recovery

National Association of Realtors reports on remodel: Cost vs. Value
From Realtor Magazine via Remodeling Magazine

Interestingly, Remodeling Magazine finds that the cost of a remodel keeps increasing, probably do to the constant increase in the cost of almost all commodities. Now this is a bit if a double whammy because as the price of homes declines the value of the remodel also declines.

There is a complex chart breaking down projects and the recoup by regions. A quick summary shows"

Additions
Here the the cost of an addition recovered between 65% of cost to as much as 70-80% of cost. In most regions decks recovered as much as 70% of cost while sunrooms fared rather poorly.

Remodels
Here the costs recovery was as low as 55% for home offices to the high 80-90%. Bathrooms and Attic bedrooms reovered more cost than other remodel projects


Replacements
The top cost recovery items where roofing jobs followed by siding (especially fiber cement). yourpropertypath.com has a good article on fiber cement siding.

This is a very credible study and anyone looking to remodel or replace should consider this before spending big bucks.

Thanks for Reading

Howard Bell

www.yourpropertypath.com