Cost Versus Value: A National Average

Which mid-range and upscale remodels deliver the most bang per buck? According to REMODELING magazine's "2009–10 Cost vs. Value Report," which compares construction costs for 33 popular remodeling projects against the share of costs recovered at resale, replacements of siding, roofing, entry doors, and windows are among those that deliver the greatest return on investment for homeowners nationally. National averages for costs recouped declined for many of the project types from the 2008-09 report, but return on investment improved for a few project types: attic bedroom remodel, back-up power generator, basement remodel, entry door replacement (steel), entry door replacement (fiberglass), roofing replacement, and upscale grand entrance.

Among mid-range projects, steel entry door replacements yield a 128.9 percent return on investment (national average) while homeowners can expect to recoup 83.1 percent of the cost of an attic bedroom remodel. Wood deck additions also deliver a high rate of return, with an expected 80.6 percent return on investment.

Upscale replacements of siding and windows deliver a greater return on investment compared to master suite additions, bathroom remodels and additions, and major kitchen remodels. Replacing siding with a fiber-cement product returns an estimated 83.6 percent of the investment, while 79 percent of the investment for a foam-backed vinyl siding replacement would be returned. Replacing old windows with new wood windows yields an estimated return of 71.5 percent, and installing vinyl windows increases the return on investment to 76.5 percent. Comparatively, an $111,794 investment in an upscale major kitchen remodel would return 63.2 percent at resale, and an investment of $52,295 in an upscale bathroom remodel would return 61.6 percent.

The REMODELING "2009–10 Cost vs. Value Report" provides data for 80 cities in the United States and includes tables with national and regional averages. The report is available for download at www.costvsvalue.com and features complete project descriptions, 3-D images, and QuickTime movies generated in Google SketchUp for all 33 project types surveyed. A comparison tool allows users to compare data among cities as well as to the past three years' worth of information.