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Cost vs. Value Report - 2013

by Dan Derkum

The 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.

The 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).

Other 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 few years).

Three 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.

The 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%.

Project Cost
Minor Kitchen Remodel $21,600-$25,000
Major Kitchen Remodel $62,200-$120,000
Bathroom Remodel $19,100-$57,000
Bathroom Addition $44,700-$82,300
Home Office Remodel $32,200-$50,000
Master Suite Addition $122,200-$251,500
Two-Story Addition $175,000-$?
Window Replacement $12,300-$18,000
Entry Door Replacement $1,300-$7,700
These are averages and each project will differ according to what the Customer wants.

The 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.
http://www.DADsConstruction.com
dan@dadsconstruction.com

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