What's A Home Improvement Worth These Days?

Every year, REMODELING Magazine in cooperation with REALTOR Magazine publishes its "Cost versus Value" report. Essentially, this report tells readers what a home remodeling project usually costs and what they can expect to recoup from that remodeling project when they sell. In other words, how much value did the remodeling project add to the property.

The report is broken down in a number of ways, but here is a synopsis of what it says for our part of the country.

Additions Job Cost Resale Value Cost Recouped
Bathroom $25,867 $21,084 81.5%
Family Room $62,797 $53,371 78.7%
Master Suite $84,883 $67,723 79.8%

Remodels
Bathroom $11,778 $10,226 86.8%
Kitchen $17,095 $15,238 89.1%
Home Office $18,504 $12,784 69.1%

Replacements
Roof $12,052 $10,025 83.2%
Vinyl Siding $ 8,285 $ 7,400 89.3%
Window (Wood) $ 9,974 $ 8,559 85.8%

Now, these are just a few examples. You can get the entire report broken out by city by going to www.CostvsValue.com.

For more information on what happening in real estate in the Tampa Bay area, visit my website at www.TheStPeteRealEstateSite.com.

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