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2007 Return on Investment

Looking to remodel but unsure of what to spend for the project?  This information is gathered by the publisher Hanley Wood, LLC, for their magazine Remodeling.  The information is based upon national averages and gives an estimate of what certain remodel projects would cost to a homeowner.  More importantly, what you can expect for a Return on your Money Spent (Investment) for that particular remodeling project.

Please remember that the costs listed below may not reflect the market rates in certain geographic locations at this current time.

2007

National Averages


Project
Midrange


Job
Cost


Resale
Value


Cost
Recouped

Attic Bedroom Remodel

$46,691

$35,771

76.6%

Back-Up Power Generator

$13,357

$7,748

58%

Basement Remodel

$59,435

$44,661

75.1%

Bathroom Addition

$37,202

$24,553

66%

Bathroom Remodel

$15,789

$12,366

78.3%

Deck Addition - Wood

$10,347

$8,835

85.4%

Family Room Addition

$78,989

$54,148

68.6%

Garage Addition

$53,897

$37,461

69.5%

Home Office Remodel

$27,193

$15,498

57%

Major Kitchen Remodel

$55,503

$43,363

78.1%

Master Suite Addition

$98,863

$68,172

69%

Minor Kitchen Remodel

$21,185

$17,576

83%

Roofing Replacement

$18,042

$12,166

67.4%

Siding Replacement

$9,910

$8,245

83.2%

Sunroom Addition

$69,817

$41,231

59.1%

Two-Story Addition

$139,297

$103,010

73.9%

Window Replacement - Vinyl

$10,448

$8,290

79.3%

Window Replacement - Wood

$11,384

$9,241

81.2%


                                              

Project Upscale

Project

Job Cost

Resale Value

Cost Recouped

Bathroom Addition

$73,145

$50,442

69%

Bathroom Remodel

$50,590

$34,588

68.4%

Deck Addition - Composite

$15,039

$11,672

77.6%

Garage Addition

$82,108

$53,056

64.6%

Major Kitchen Remodel

$109,394

$81,096

74.1%

Master Suite Addition

$220,149

$141,120

64.1%

Roofing Replacement (steel)

$33,151

$21,769

65.7%

Siding Replacement (fiber-cement)

$13,212

$11,633

88.1%

Siding Replacement (foam-backed vinyl)

$12,132

$9,668

79.7%

Window Replacement - Vinyl

$13,479

$10,913

81%

Window Replacement - Wood

$17,383

$13,784

79.3%


              
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“© 2007 Hanley Wood, LLC. Reproduced by permission. Complete city data from the Remodeling 2007 Cost vs. Value Report can be downloaded for free at costvalue.remodelingmagazine.com.”