You may need more space or just want a fresh look. It’s important to know what your project will pay you back at resale time. This info is taken from the annual “Cost vs. Value” report published each year by National Association of Realtors in conjunction with Remodeling magazine.
Project: BATHROOM REMODEL
Cost: $11,047- $12,096
Resale Value: $9,885-$10,628
Cost Recouped: 87.9% -Minneapolis 89.5%-Midwest Avg.
Project: MINOR KITCHEN REMODEL
Cost: $15,426- $17,361
Resale Value: $13,151- $15,332
Cost Recouped: 88.3%-Minneapolis 85.3%-Midwest Avg.
Project: SIDING REPLACEMENT
Cost: $7,280- $7,650
Resale Value: $6,959- $11,007
Cost Recouped: 143.9%-Mpls. 95.6%-Midwest Avg.
Project: ATTIC BEDROOM
Cost: $41,281- $45,068
Resale Value: $33,752- $34,781
Cost Recouped: 76.3%-Minneapolis 81.8%-Midwest Avg.
Project: DECK ADDITION
Cost: $11,585- $13,285
Resale Value: $9,813 – $9,869
Cost Recouped: 73.9%-Minneapolis 85.2%-Midwest Avg.
Project: BASEMENT REMODEL
Cost: $53,114- $57,077
Resale Value: $38,767 – $46,995
Cost Recouped: 82.3%-Minneapolis 73%-Midwest Avg.
Project: WINDOW REPLACEMENT
Cost: $10,139- $11,896
Resale Value: $8,484- $10,346
Cost Recouped: 87.0%-Minneapolis 83.7%-Midwest Avg.
Project: ROOFING REPLACEMENT
Cost: $12,401- $14,641
Resale Value: $8,674 – $10,577
Cost Recouped: 72.2%-Minneapolis 69.9%-Midwest Avg.
Project: FAMILY ROOM ADDITION
Cost: $57,599- $63,738
Resale Value: $41,842- $44,656
Cost Recouped: 70.1%-Minneapolis 86.2%-Midwest Avg.
Project: HOME OFFICCE REMODEL
Cost: $14,120 – $16,109
Resale Value: $8,610 – $10,181
Cost Recouped: 63.2%-Minneapolis 61.0%-Midwest Avg.
Contact me for more specific information on these projects and how it compares to what you’d like to do.
