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2005 Home Improvement Cost Vs. Value Report
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We are often asked which home improvements will add the most value.
Below are sections of the 2005 Cost Vs. Value Report,
originally printed 11/01/2005, by Remodeling Magazine.
The report outlines the cost and the estimated return should the home be sold a year
later. While the report is nationwide, the information below is for the Columbus and central Ohio area.
To see the details on a specific home improvement, follow the link provided.
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Columbus and central Ohio home improvement cost to
resale estimates
| Home Improvement Job |
Job Cost |
Resale Value |
Cost Recouped |
| Siding Replacement, Upscale |
$9,268 |
$8,738 |
94.3% |
| Minor Kitchen Remodel |
$14,525 |
$13,362 |
92.0% |
| Bathroom Remodel, Mid-Range |
$10,291 |
$9,359 |
90.9% |
| Siding Replacement, Mid-Range |
$6,506 |
$5,769 |
88.7% |
| Bathroom Remodel, Upscale |
$25,429 |
$21,695 |
85.3% |
| Bathroom Addition, Mid-Range |
$22,588 |
$18,731 |
82.9% |
| Major Kitchen Remodel, Mid-Range |
$43,363 |
$35,359 |
81.5% |
| Major Kitchen Remodel, Upscale |
$80,208 |
$65,381 |
81.5% |
| Window Replacement, Mid-Range |
$9,599 |
$7,824 |
81.5% |
| Bathroom Addition, Upscale |
$46,315 |
$35,818 |
77.3% |
| Two-Story Addition |
$80,386 |
$62,076 |
77.2% |
| Master Suite Addition, Mid-Range |
$71,684 |
$55,238 |
77.1% |
| Master Suite Addition, Upscale |
$135,748 |
$104,429 |
76.9% |
| Attic Bedroom Remodel |
$38,273 |
$29,191 |
76.3% |
| Roof Replacement, Upscale |
$16,091 |
$12,048 |
74.9% |
| Family Room Addition |
$53,312 |
$39,834 |
74.7% |
| Window Replacement, Upscale |
$15,820 |
$11,617 |
73.4% |
| Roof Replacement, Mid-Range |
$10,997 |
$7,962 |
72.4% |
| Deck Addition |
$10,838 |
$7,606 |
70.2% |
| Sunroom Addition |
$30,808 |
$21,252 |
69.0% |
| Home Office Remodel |
$13,065 |
$8,859 |
67.8% |
| Basement Remodel |
$49,595 |
$29,618 |
59.7% |
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Keep in mind, while you do not get 100% return on your money in
the first year, there are other
benefits to making a home improvement. You get the enjoyment
from the improvement. The improvement can make the difference
between your house selling or not.
For instance, if your kitchen is outdated and worn,
buyers looking at your house will notice. They may well think, "We
could never live here. Look how ugly the kitchen is." Some buyers
are unable to visualize how nice it could be if they were to buy
your house and make the home improvement.
If you go ahead with remodeling the kitchen, buyers looking
at your house will notice. They may well come into the
kitchen and think, "We have to have this house. Look how
beautiful the kitchen is!"
Other factors should also be taken into consideration when
deciding whether or not to remodel. It may be harder to get
a return on your improvement if you over improve your house. If
you are thinking you may be selling your home soon and are not
sure about making the home improvement, be sure to ask your Realtor.
Realtors are in and out of houses all day working with buyers
and will be able to tell you if something may be an issue in
selling your house.
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2005 Cost Vs. Value Report - Remodeling Magazine
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Lori Swearingen, CSP
Certified New Home Sales Professional
Realtor
E-mail:
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Greg Swearingen
Marketing Specialist
E-mail:
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Phone: (614) 523-1000 Toll Free: (800) 557-4922
Over 40 years in the Columbus, Ohio area.
Licensed to sell real estate throughout the state of Ohio
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