Remodel for Value

Top 10 Midrange Projects

1. Entry Door Replacement (steel)

Job Cost: $1,162

Resale Value: $1,122

Cost Recouped: 96.6%

2. Deck Addition (wood)

Job Cost: $9,539

Resale Value: $8,334

Cost Recouped: 87.4%

3. Attic Bedroom

Job Cost: $49,438

Resale Value: $41,656

Cost Recouped: 84.3%

4. Garage Door Replacement

Job Cost: $1,534

Resale Value: $1,283

Cost Recouped: 83.7%

5. Minor Kitchen Remodel

Job Cost: $18,856

Resale Value: $15,585

Cost Recouped: 82.7%

6. Window Replacement (wood)

Job Cost: $10,926

Resale Value: $8,662

Cost Recouped: 79.3%

7. Window Replacement (vinyl)

Job Cost: $9,978

Resale Value: $7,857

Cost Recouped: 78.7%

8. Siding Replacement (vinyl)

Job Cost: $11,475

Resale Value: $8,975

Cost Recouped: 78.2%

9. Basement Remodel

Job Cost: $62,834

Resale Value: $48,777

Cost Recouped: 77.6%

10. Deck Addition (composite)

Job Cost: $15,437

Resale Value: $11,476

Cost Recouped: 74.3%

We all have emotional attachments to our homes, but when it comes to making remodeling decisions that are also wise financial decisions, it’s about the numbers. When home sellers order an appraisal, I offer a free service advising them on which remodels will increase their sales prices the most for the least money. 

 

For example, its widely known that updating an old kitchen can not only add value, but make the difference between whether or not a potential buyer will even consider a house. However, you don’t have to spend a fortune to upgrade a kitchen! Granite countertops are a great improvement, but you can use granite tile instead of granite slabs and save between $35 and $100 per square foot. Another savings I strongly recommend for savvy remodelers is to keep your existing kitchen cabinets if they are in good shape. A box is a box! Just refinish them and add other inexpensive upgrades such as new door faces and hardware. If you want to add cabinets, buy them unfinished at surplus stores and stain or paint them to match.  Please note, these cabinets should be made of all wood and not particle board.   

Top 10 Upscale Projects

1. Siding Replacement (fiber-cement)

Job Cost: $13,378

Resale Value: $11,645

Cost Recouped: 87.0%

2. Garage Door Replacement

Job Cost: $2,791

Resale Value: $2,315

Cost Recouped: 82.9%

3. Siding Replacement (foam-backed vinyl)

Job Cost: $14,236

Resale Value: $11,124

Cost Recouped: 78.1%

4. Window Replacement (vinyl)

Job Cost: $13,385

Resale Value: $10,252

Cost Recouped: 76.6%

5. Window Replacement (wood)

Job Cost: $16,798

Resale Value: $12,438

Cost Recouped: 74.0%

6. Grand Entrance (fiberglass)

Job Cost: $7,305

Resale Value: $5,163

Cost Recouped: 70.7%

7. Deck Addition (composite)

Job Cost: $35,158

Resale Value: $22,881

Cost Recouped: 65.1%

8. (tie) Bathroom Remodel

Job Cost: $51,374

Resale Value: $32,660

Cost Recouped: 63.6%

(tie) Major Kitchen Remodel

Job Cost: $109,935

Resale Value: $69,973

Cost Recouped: 63.6%

9. Roofing Replacement

Job Cost: $34,495

Resale Value: $21,731

Cost Recouped: 63.0%

10. Bathroom Addition

Job Cost: $72,538

Resale Value: $43,936

Cost Recouped: 60.6%

© 2018 by Susan McKey

Licensed in the State of Louisiana LA#0947 

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