For the last 15 years,
Remodeling magazine and NAR’s REALTOR® Magazine have released the Cost vs Value Report. I am happy to report that after six years of decline, lower construction costs and stabilizing house prices helped to raise the overall return ratio on improvements three percentage points. Not surprisingly, curb appeal is key. Starting with the front door, which can recoup an estimated 85.6% return, exterior projects led the list with six of the top 10 most cost-effective midrange projects and eight of the top 10 upscale projects. Visit
www.costvsvalue.com to find information from the 81 cities included in the survey which has market data specific to your area. Here is the top mid range and upscale improvements for the New England area: Mid- range projects:
| | | Project | Job Cost | Resale Value | Cost Recouped | Change vs. 2011-12 |
| | | Attic Bedroom | $47,919 | $34,916 | 72.9% |  |
| | | Backup Power Generator | $11,410 | $6,014 | 52.7% | |
| | | Basement Remodel | $61,303 | $43,095 | 70.3% | |
| | | Bathroom Addition | $37,501 | $20,569 | 54.8% | |
| | | Bathroom Remodel | $15,782 | $10,295 | 65.2% | |
| | | Deck Addition (composite) | $15,084 | $10,184 | 67.5% | |
| | | Deck Addition (wood) | $9,327 | $7,213 | 77.3% | |
| | | Entry Door Replacement (fiberglass) | $2,753 | $1,813 | 65.9% | |
| | | Entry Door Replacement (steel) | $1,137 | $974 | 85.6% | |
| | | Family Room Addition | $79,006 | $50,013 | 63.3% | |
| | | Garage Addition | $48,806 | $31,091 | 63.7% | |
| | | Garage Door Replacement | $1,496 | $1,132 | 75.7% | |
| | | Home Office Remodel | $27,292 | $11,911 | 43.6% | |
| | | Major Kitchen Remodel | $53,931 | $37,139 | 68.9% | |
| | | Master Suite Addition | $101,873 | $64,390 | 63.2% | |
| | | Minor Kitchen Remodel | $18,527 | $13,977 | 75.4% | |
| | | Roofing Replacement | $18,488 | $11,633 | 62.9% | |
| | | Siding Replacement (vinyl) | $11,192 | $8,154 | 72.9% | |
| | | Sunroom Addition | $72,179 | $33,529 | 46.5% | |
| | | Two-Story Addition | $152,470 | $99,674 | 65.4% | |
| | | Window Replacement (vinyl) | $9,770 | $6,961 | 71.2% | |
| | | Window Replacement (wood) | $10,708 | $7,852 | 73.3% | |
| | | Project | Job Cost | Resale Value | Cost Recouped | Change vs. 2011-12 |
| | | Bathroom Addition | $70,969 | $39,730 | 56.0% | |
| | | Bathroom Remodel | $50,007 | $29,162 | 58.3% | |
| | | Deck Addition (composite) | $34,403 | $20,532 | 59.7% | |
| | | Garage Addition | $80,511 | $44,034 | 54.7% | |
| | | Garage Door Replacement | $2,720 | $2,046 | 75.2% | |
| | | Grand Entrance (fiberglass) | $7,088 | $4,528 | 63.9% | |
| | | Major Kitchen Remodel | $107,406 | $64,113 | 59.7% | |
| | | Master Suite Addition | $220,086 | $114,569 | 52.1% | |
| | | Roofing Replacement | $33,880 | $19,194 | 56.7% | |
| | | Siding Replacement (fiber-cement) | $13,083 | $10,379 | 79.3% | |
| | | Siding Replacement (foam-backed vinyl) | $13,818 | $9,926 | 71.8% | |
| | | Window Replacement (vinyl) | $13,055 | $9,295 | 71.2% | |
| | | Window Replacement (wood) | $16,361 | $11,194 | 68.4% | |
This week’s Real Estate Insight: Whether you are thinking about doing some remodeling prior to listing your home or to adapt to your own needs, the Cost vs. Return Report is a great resource, but it is always a good idea to consult with local experts. Sellers will often spend a ton of money preparing their house for the market, yet miss out on key improvements that will increase their home's value.
An expert local Realtor can help you get the best bang out of your remodeling dollars for your specific neighborhood.
