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WHAT ABOUT REMODELING? You loved the house when you first bought it, but since then
things have changed. The family has gone from two to six. Those lime green
appliances in the kitchen are starting to strain your eyes. And you’ve grown
to hate the drab wood paneling in the family room. Obviously, it’s time for a change; but, before you start
knocking down walls or digging up the backyard, consider the return on your
investment. The fact is, some home improvements will add to the value of your
home, and others will detract from it.
Take a look at the chart shown below
before you decide on your next home improvement project.
| Remodeling Job |
Average Job Costs |
Average Resale Value |
Cost Recouped |
| Minor Kitchen Remodel |
$8,047 |
$12,333 |
153% |
| Major Kitchen Remodel |
$22,030 |
$28,358 |
129% |
| Bath Addition |
$11,444 |
$12,000 |
105% |
| Bath Remodel |
$8,344 |
$8,500 |
102% |
| Family Room Addition |
$29,451 |
$28,333 |
96% |
| Master Bedroom Suite |
$34,949 |
$30,000 |
86% |
| Siding Replacement |
$4,618 |
$3,833 |
83% |
| Two Story Addition |
$53,676 |
$43,333 |
81% |
| Deck Addition |
$5,717 |
$4,333 |
76% |
| Attic Bedroom |
$22,854 |
$17,000 |
74% |
| Home Office |
$8,627 |
$4,000 |
46% |
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Source: The National Association of the Remodeling Industry
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