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Which
Remodeling Projects
Give You the Best Return
on Your Investment?
Should
you move to a new house or remodel your current home? Many factors enter into that
decision and one of them is how much you increase your house value by
remodeling. You might wonder which remodeling projects give you the biggest "bang for the
buck" when it does come time to sell.
A
good starting point is to review the Cost vs. Value Report published each year by Remodeling
Magazine in cooperation with the National Association of Realtors.
A joint study was conducted
by the National Association of Realtors and Remodeling magazine. The study
analyzed various home improvements to determine their cost and effect on resale value if
the house was sold as soon as the remodeling project was completed. The
results are summarized below:
| Project |
Avg. Cost |
Resale % |
| Major Kitchen Remodel |
$43,804 |
75% |
| Bathroom Addition |
$15,519 |
95% |
| Bathroom Remodel |
$10,088 |
89% |
| Family Room Addition |
$53,983 |
81% |
| Master Suite |
$42,826 |
68% |
| Attic Bedroom |
$32,863 |
93% |
| Window Replacement |
$9,568 |
85% |
| Deck Addition |
$6,304 |
104% |
The numbers shown above are national averages.
The full report analyzes the numbers for 60 major metropolitan areas, including Denver,
and also explains the methodology used to compile the statistics. Contact
Mike if you would
like a copy -- He'll provide you with a free reprint of the full report. |
