Celebrating their 30th anniversary, Remodeling Magazine has just unveiled the Cost vs Value Report for 2017 which breaks down the cost for various projects around the house and how much of that cost you could recoup if you sold your home. Twenty-nine markets were researched in 99 markets around the country to come up with some great data for your next upgrade.
Here are the top remodeling projects for 2017 and the "Return on Investment" that the seller should recoup if they sold their home.
Entry Door Replacement (Steel) - 128.9%
Attic Insulation (Fiberglas) - 111.8%
Manufactured Stone Veneer - 106.4%
Universal Design Bathroom - 81.3%
Deck Addition (Wood) - 75.5%
Siding Replacement - 74.2%
Minor Kitchen Replacement - 73.9%
Basement Remodel - 73.4%
Garage Door Replacement - 73.1%
Family Room Addition - 71.3%
Two-Story Addition 70.0%
Deck Addition (Composite) - 68.5%
Roof Replacement - 67.8%
Bathroom Remodel - 66.7%
Backup Power Generator - 64.5%
Bathroom Addition - 59.6%
Master Suite Addition - 57.8%
Backyard Patio - 54.9%
Major Kitchen Remodel - 54.5%
Garage Door Replacement - 89.0%
Entry Door Replacement (Fiberglass) - 85.1%
Grand Entrance (Fiberglass) - 73.5%
Window Replacement (Wood) - 70.7%
Window Replacement (Vinyl) - 69.8%
Bathroom Remodel - 62.4%
Major Kitchen Remodel - 58.1%
Master Suite Addition - 57.5%
Bathroom Addition - 56.3%
Deck Addition (Composite) - 54.9%
As this is just a summary, feel free to visit the link at the top of this article to see the full report including actual costs. Also, the figures above are not national figures but for our region which includes the Baldwin County real estate market.
So how does this report affect you? You have to ask yourself, how long you plan to live in your home. Since home trends change over time, you shouldn't worry about the return on investment if you're planning on staying in your home longer than 5 years. If you are planning to sell within 5 years, these figures tend to make more sense.
If you are planning to sell, I'd love to talk with you.
About the author: The above Real Estate information on Cost vs Value was provided by Jeff Nelson of IXL Real Estate – Eastern Shore. Jeff can be reached via email at email@example.com or by phone at 251-654-2523. Jeff has helped people move in and out of properties for nearly 12 years.
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