What’s the value of major remodeling or repair projects in your home? The following table lists average results from a study reported in the December 2004 and December 2007 issue of Realtor Magazine. These results are for the Cincinnati area, and the accuracy is plus or minus 10%. Although the information is not current the % cost recouped is probably still in the ball bark. Note that the payback is best on a roof replacement and deck addition. Although many categories are below 100%, keep in mind that updated repairs and remodeling help expedite the sale and separate your property from similar properties.
Remodeling (2004) | Job Cost | Resale Value | Cost Recouped |
Bathroom Remodel | $10,470 | $6,838 | 65.3% |
Deck Addition | $6,792 | $13,188 | 194.2% |
Window Replacement | $9,313 | $8,000 | 85.9% |
Attic Bedroom | $35,834 | $26,875 | 75.0% |
Family Room Addition | $52,124 | $41,250 | 79.1% |
Roofing Replacement | $11,357 | $17,625 | 155.2% |
Master Suite Addition | $73,705 | $51,250 | 69.5% |
Major Kitchen Remodel | $43,272 | $33,386 | 77.2% |
Basement Remodel | $48,193 | $31,875 | 66.1% |
Sunroom Addition | $30,491 | $21,750 | 71.3% |
Remodeling (2007) | Job Cost | Resale Value | Cost Recouped |
Siding Replacement | $13,257 | $10,086 | 76.1% |
Deck Addition (wood) | $9,800 | $7,388 | 75.4% |
Window Replacement (wood) | $11,469 | $7,722 | 67.3% |
Kitchen Remodel (minor) | $21,295 | $14,016 | 65.8% |