Cost vs. Value Report - 2013
by Dan Derkum
numbers are in for 2013! The value of remodeling is up in all 35
categories. What this means for you is that your remodeling dollars are
making your home more valuable.
biggest gainers are adding an attic bedroom, remodeling your kitchen,
bathroom, or home office, and replacing your windows, front and garage
doors. The highest return on investment was replacing the front entry
door at over 112% (this means by replacing your front entry door, the
value exceeded the cost -- in other words, you made money doing this).
high return on investment projects included minor and major kitchen
remodels, attic bedrooms, basement remodels, and backup power generator
(this was west of the Rockies due to the serious weather over the last
of the biggest cost-value and return on investment large scale projects
were second story additions, major upscale kitchen remodels, and adding
an upscale bathroom. Adding an upscale bathroom to your home was
extremely desirable. Upscale kitchen remodels topped the list.
table below illustrates these projects along with their average costs
for the Pacific region (California, Oregon, Washington, Hawaii, &
Alaska). For South Orange County, you'll need to add another 15-20%.
|Minor Kitchen Remodel
|Major Kitchen Remodel
|Home Office Remodel
|Master Suite Addition
|Entry Door Replacement
|These are averages and each project will differ according to what the Customer wants.
Pacific region continues to outperform all other regions. The average
cost-value ratio for all 35 projects in the Pacific is a healthy 88%
vs. a National average of 66.1%.
About the Author
Daniel A. Derkum is the owner of DAD's Construction, a leading South Orange County, California design-and-build remodeling and renovation contractor.