Do you know the current value of your renovation? If you are remodeling for your own comfort, it may not matter to you, but if you’re renovating with an eye to increasing the value of your home…it’s worth a closer look to see the newest numbers on what’s hot and what’s not in remodeling! Every year, Remodeling and Realtor® magazines put out a report on the Cost vs. Value of popular home renovations.
So after a grueling winter, it seems like spring may actually arrive this year.
If home improvements are on your to-do list and you can’t decide where to spend your renovation dollars, take a look at the 2014 Cost vs. Value Report for a little guidance.
The annual study, done by Remodeling magazine in cooperation with REALTOR® Magazine, looks at how much of your investment you can expect to recoup on renovation projects when you sell.
Especially if you’re readying your house for sale and you have finite resources, the list could help you pick the most worthwhile projects.
The report breaks down figures on a national and on a regional basis, so be sure to zero in on the data for your region.
Here are some national averages for top projects in two categories.
Top Midrange Projects
| Project | Job cost | Resale value | Costs recouped |
| Steel entry door replacement | $1,162 | $1,122 | 96.6% |
| Deck addition (wood) | $9,539 | $8,334 | 87.4% |
| Attic bedroom | $49,438 | $41,656 | 84.3% |
| Garage door replacement | $1,534 | $1,283 | 83.7% |
| Minor kitchen remodel | $18,856 | $15,585 | 82.7% |
Top Upscale Projects
| Project | Job cost | Resale value | Costs recouped |
| Bathroom addition | $72,538 | $43,936 | 60.6% |
| Bathroom remodel | $51,374 | $32,660 | 63.6% |
| Deck addition (composite) | $35,158 | $22,881 | 65.1% |
| Garage addition | $82,311 | $48,065 | 58.4% |
| Garage door replacement | $2,791 | $2,315 | 82.9% |
Certain projects should be considered with caution if you’re looking to maximize the return on your investment. For example, among midrange projects, the resale value of a $28,000 home office remodel was only $13,697. And the resale value of a $73,546 sunroom addition was $38,011.
See the full report, along with regional breakdowns.
