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2017 Average Remodeling Costs and ROI... costs up, return down
People planning ahead before doing remodeling projects often contact us about what impact updates will have on resale. A good source for general information is Remodeling's annual Cost vs. Value report, which gives the average cost and estimated amount recouped at resale for top projects. They revised their list a little, covers 26 projects this year instead of more than 30 with a few new projects included. Average cost has gone up 4.1%, and average percent recouped has gone down 10.6% from last year.
Two of the new projects showed the highest percentage recouped... manufactured stone veneer (97%) and fiberglass attic insulation (95.3%). Windows, entry door and garage door replacement all showed a return of 70% or greater. Thinking about a kitchen remodel? Most people know that kitchens sell, but if you are remodeling for resale keep it in check unless you are also doing a major floor plan renovation... a minor kitchen remodel ($22,775) had a 74.8% return while a major kitchen remodel ($66,986) had a lower return of 59.1%.
MINNEAPOLIS-ST. PAUL Remodeling ROI - Cost vs Value 2017
Manufactured stone veneer - $7.520 - 97.0% Attic insulation (fiberglass) - $1,351 - 95.3% Garage door replacement - $1,890 - 78.5% UPSCALE garage ... more
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