The Top Remodeling Projects to Boost Your Home Value for 2013
The Top Remodeling Projects to Boost Your Home Value for 2013
Your home is likely your most costly investment and when choosing to remodel, it requires careful thought and planning in order to get quality work done. There are many things to take into consideration in order to get the most resale value from your remodeling project as well. The following are some helpful tips and a guide to the values of some home remodeling projects.
One of the most important things to consider when embarking on a remodeling project is the reason behind the project. Are you trying to improve your quality of life, or are you strictly trying to create more value in your home? This can make a big difference in how you approach the project and the actual outcome.
The next thing of great importance is the budget you have to work with. That will determine whether the project will be something you undertake on your own, or whether you need to hire a contractor. It will also determine the extent of the project. Without careful planning for the budget ahead of time, you could end up with a half-finished project that will actually devalue your home rather than add to it.
If you are looking to get the most resale value from your remodeling project, the following are the results of a survey published by Remodeling Magazine which show you how much some projects can increase the value of your home.
This table may be very useful to you if you plan to begin a remodeling project in 2013.
Project Job Cost Resale Value Cost Recouped Change
Source: http://www.remodeling.hw.net/2013/costvsvalue/national.aspx]
Project | Job Cost | Resale Value | Cost Recouped |
| Attic Bedroom | $47,919 | $34,916 | 73% |
| Backup Power Generator | $11,410 | $6,014 | 53% |
| Basement Remodel | $61,303 | $43,095 | 70% |
| Bathroom Addition | $37,501 | $20,569 | 55% |
| Bathroom Remodel | $15,782 | $10,295 | 65% |
| Deck Addition (composite) | $15,084 | $10,184 | 68% |
| Deck Addition (wood) | $9,327 | $7,213 | 77% |
| Entry Door Replacement (fiberglass) | $2,753 | $1,813 | 66% |
| Entry Door Replacement (steel) | $1,137 | $974 | 86% |
| Family Room Addition | $79,006 | $50,013 | 63% |
| Garage Addition | $48,806 | $31,091 | 64% |
| Garage Door Replacement | $1,496 | $1,132 | 76% |
| Home Office Remodel | $27,292 | $11,911 | 44% |
| Major Kitchen Remodel | $53,931 | $37,139 | 69% |
| Master Suite Addition | $101,873 | $64,390 | 63% |
| Minor Kitchen Remodel | $18,527 | $13,977 | 75% |
| Roofing Replacement | $18,488 | $11,633 | 63% |
| Siding Replacement (vinyl) | $11,192 | $8,154 | 73% |
| Sunroom Addition | $72,179 | $33,529 | 47% |
| Two-Story Addition | $152,470 | $99,674 | 65% |
| Window Replacement (vinyl) | $9,770 | $6,961 | 71% |
| Window Replacement (wood) | $10,708 | $7,852 | 73% |
