Real Estate and *stuff *
A real person helping real people with real estate
You can scroll the shelf using ← and → keys
2013-14 Cost vs. Value: Remodeling Pays Off Big Time
March 26, 2014
— 1 Comment
The numbers are in and WOW!
The data used in the Cost vs. Value Report was collected with the help of REALTOR® Magazine in an online survey between August and October 2013. More than 4,500 NAR members participated from 101 U.S. cities, up from 81 cities included in last year’s survey.
Visit www.costvsvalue.com to find information from the 101 cities included in the survey and download free PDFs that include specific metro-area market data. (Site registration is required.)
Top Projects
If you are considering a home improvement project to boost the quality and appeal of your home, here is the list of top 10 midrange and upscale projects from the 2013-14 Cost vs. Value Report:
Top 10 Midrange Projects1. Entry Door Replacement (steel) 2. Deck Addition (wood) 3. Attic Bedroom 4. Garage Door Replacement 5. Minor Kitchen Remodel 6. Window Replacement (wood) 7. Window Replacement (vinyl) 8. Siding Replacement (vinyl) 9. Basement Remodel 10. Deck Addition (composite) |
Top 10 Upscale Projects1. Siding Replacement (fiber-cement) 2. Garage Door Replacement 3. Siding Replacement (foam-backed vinyl) 4. Window Replacement (vinyl) 5. Window Replacement (wood) 6. Grand Entrance (fiberglass) 7. Deck Addition (composite) 8. (tie) Bathroom Remodel (tie) Major Kitchen Remodel 9. Roofing Replacement 10. Bathroom Addition |
2012-13 Cost vs. Value: Make the First Impression Count
February 11, 2013
Updating the outside of a home pays off, according to this year’s Cost vs. Value Report. Real estate professionals ranked exterior improvement projects as winning the buyers’ eye and providing sellers with the most return on investment.
If your clients are wondering what home improvement projects will give them the best return on the sale of their home, tell them to think “curb appeal.”
When buyers are shopping for a home, the exterior can make (or break) the first impression. According to the 2013 Cost vs. Value Report, exterior replacement projects are among the most valuable home improvements that sellers can currently invest in, starting with the front door.
A steel entry door topped this year’s survey with an estimated 85.6 percent of the costs recouped at resale. The steel door replacement is also the least expensive of the 35 midrange and upscale remodeling projects included in the survey, costing $1,137 on average.
This is the 15th year that Remodeling magazine — in cooperation with REALTOR® Magazine — has released the Cost vs. Value Report. This year’s survey included more than 3,900 appraisers, sales agents, and brokers across the country who provided their opinions and estimates.
Exterior projects dominated the list with six of the top 10 most cost-effective midrange projects and eight of the top 10 upscale projects.
Top 10 Midrange Projects1. Entry Door Replacement (steel) 2. Deck Addition (wood) 3. Garage Door Replacement 4. Minor Kitchen Remodel 5. Window Replacement (wood) (tie) 6. Attic Bedroom Addition (tie) 6. Siding Replacement (vinyl) 7. Window Replacement (vinyl) 8. Basement Remodel 9. Major Kitchen Remodel 10. Deck Addition (composite) |
Top 10 Upscale Projects1. Siding Replacement (fiber-cement) 2. Garage Door Replacement 3. Siding Replacement (foam-backed vinyl) 4. Window Replacement (vinyl) 5. Window Replacement (wood) 6. Grand Entrance (fiberglass) 7. Deck Addition (composite) 8. Major Kitchen Remodel 9. Bathroom Remodel 10. Roofing Replacement |
Ending a six-year cost-value ratio decline, this year’s Cost vs. Value Report is good news for remodeling industry with a rise in the ratio by three percentage points to 60.6 percent. According to the report, lower construction costs and stabilizing house prices were the principal factors for the upturn.
While every region improved over last year’s survey, the Pacific region — Alaska, California, Hawaii, Oregon, and Washington — had the highest average cost-to-value ratio overall at 71.2 percent, despite having the highest construction costs in the country.
Visit www.costvsvalue.com to find information from the 81 cities included in the survey and download free PDFs that include specific market data. Site registration is required. Also visit HouseLogic.com for a slideshow of the report’s results.
Construction cost estimates were generated by RemodelMAX. Cost vs. Value is a registered trademark of Hanley Wood, LLC.
Real Estate and *stuff * 