Remodeling Magazine has released it’s 2104 Cost vs Value index survey that evaluates the cost of 35 popular home remodeling, replacement, and addition projects in 101 cities, against the projected value at resale. To no surprise not all home remodeling projects are created equal, and not all home remodeling projects return is the same at resale.
For the second consecuitive year the value of all 35 mointored projects in the survey has increased. This trend signals an end to the long slide in the cost-value ratio, which began to fall in 2006 and didn’t begin to rebound until last year.
The following country-wide mid-range remodeling projects offer the highest estimted return at resale:
– Entry Door Replacement (Steel) – 96.6%
– Deck Addition (Wood) – 87.4%
– Attic Bedroom – 84.3%
– Garage Door Replacement – 83.7%
– Minor Kitchen Remodel – 82.7%
– Window Replacement (Wood) – 79.3%
Projects that yielded the lowest return:
– Home Office Remodel – 48.9%
– Sunroom Addition – 51.7%
– Garage Addition – 58.4%
– Master Suite Addition – 56.0%
Check out the returns for the 35 projects in the full 2014 Cost vs. Value Report and for data specific to the Philadelphia region.
When choosing a remodeling project for your home there are two important things to remember. Keep the project in line with other homes in your neighborhood. If you want to recoup the highest amount of your project investment do not over improve for your area. Secondly, regardless of the home improvements you make, do not expect to get your investment back dollar for dollar at resale.
Wallingford Real Estate – Wallingford, PA 19086
