Home Improvement:
Cost vs. Value
Home improvements not only make your house a more enjoyable place to live, they can also increase the resale value of your home. The true test of how much
value they add occurs when you put your house up for sale. Below is a listing of home improvements, along with the cost, added resale value of the project
and the expected cost that can be recouped. This information comes from Remodeling Magazine's Cost vs. Value Report.
| Project | Job Cost | Cost Recouped | Resale Value |
|---|
| Replace Windows | $7,908 | 67% | $5,322 |
| Minor Kitchen Remodel | $15,670 | 91% | $14,324 |
| Replace Siding | $6,130 | 82% | $5,005 |
| Master Suite | $67,745 | 62% | $41,830 |
| Bathroom Addition | $15,080 | 79% | $11,865 |
| Sunroom Addition | $28,575 | 58% | $16,636 |
| Major Kitchen Remodel | $32,645 | 58% | $18,901 |
| Attic Bedroom | $30,087 | 33% | $10,014 |
| Family Room Addition | $50,388 | 78% | $39,351 |
| Bathroom Remodel | $10,201 | 89% | $9,055 |
| Deck Addition | $8,423 | 54% | $4,509 |
A minor kitchen remodel topped the list with a 90% cost
recovery at resale. Of course, the cost shown here only takes into account the actual cost recouped at resale. The added value that such improvements give
you while you are living in the house can only be measured by you.
To try our loan calculators,
click here.
The information presented in this publication is general in nature; it is not our intention to provide specific
advice to individuals or a comprehensive discussion of the subject matter. We suggest that you consult with your
financial or tax advisor, accountant or attorney to obtain specific advice or comprehensive information.
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