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Remodel Cost vs. Value
The statistics for the 2007 remodel cost vs. value model delineates cost-to-construct benchmarks for a set of common remodeling projects, then estimates how much of that investment will be recovered at resale in today's market.
| Arizona |
2007
 |
National Averages |
| $43,868 |
$34,032 |
77.6% |
Attic Bedroom Remodel
 |
$46,691 |
$35,771 |
76.6% |
| $12,916 |
$7,311 |
56.6% |
Back-Up Power Generator
 |
$13,357 |
$7,748 |
58% |
| $56,297 |
$47,167 |
83.8% |
Basement Remodel
 |
$59,435 |
$44,661 |
75.1% |
| $35,480 |
$24,239 |
68.3% |
Bathroom Addition
 |
$37,202 |
$24,553 |
66% |
| $14,955 |
$12,289 |
82.2% |
Bathroom Remodel
 |
$15,789 |
$12,366 |
78.3% |
| $10,717 |
$9,244 |
86.3% |
Deck Addition - Wood
 |
$10,347 |
$8,835 |
85.4% |
| $76,068 |
$51,781 |
68.1% |
Family Room Addition
 |
$78,989 |
$54,148 |
68.6% |
| $53,270 |
$37,557 |
70.5% |
Garage Addition
 |
$53,897 |
$37,461 |
69.5% |
| $26,503 |
$14,601 |
55.1% |
Home Office Remodel
 |
$27,193 |
$15,498 |
57% |
| $53,640 |
$42,001 |
78.3% |
Major Kitchen Remodel
 |
$55,503 |
$43,363 |
78.1% |
| $94,856 |
$65,121 |
68.7% |
Master Suite Addition
 |
$98,863 |
$68,172 |
69% |
| $20,634 |
$17,139 |
83.1% |
Minor Kitchen Remodel
 |
$21,185 |
$17,576 |
83% |
| $15,902 |
$10,853 |
68.2% |
Roofing Replacement
 |
$18,042 |
$12,166 |
67.4% |
| $10,132 |
$7,960 |
78.6% |
Siding Replacement
 |
$9,910 |
$8,245 |
83.2% |
| $68,272 |
$37,240 |
54.5% |
Sunroom Addition
 |
$69,817 |
$41,231 |
59.1% |
| $134,132 |
$99,632 |
74.3% |
Two-Story Addition
 |
$139,297 |
$103,010 |
73.9% |
| $10,055 |
$7,665 |
76.2% |
Window Replacement - Vinyl
 |
$10,448 |
$8,290 |
79.3% |
| $10,939 |
$8,905 |
81.4% |
Window Replacement - Wood
 |
$11,384 |
$9,241 |
81.2% | |
| Arizona |
Project Upscale
 |
National Averages | |
| $70,523 |
$48,973 |
69.4% |
Bathroom Addition
 |
$73,145 |
$50,442 |
69% |
| $48,643 |
$33,154 |
68.2% |
Bathroom Remodel
 |
$50,590 |
$34,588 |
68.4% |
| $14,979 |
$11,207 |
74.8% |
Deck Addition - Composite
 |
$15,039 |
$11,672 |
77.6% |
| $79,958 |
$52,165 |
65.2% |
Garage Addition
 |
$82,108 |
$53,056 |
64.6% |
| $107,346 |
$81,473 |
75.9% |
Major Kitchen Remodel
 |
$109,394 |
$81,096 |
74.1% |
| $214,822 |
$143,114 |
66.6% |
Master Suite Addition
 |
$220,149 |
$141,120 |
64.1% |
| $28,068 |
$19,639 |
70% |
Roofing Replacement (steel)
 |
$33,151 |
$21,769 |
65.7% |
| $13,114 |
$10,834 |
82.6% |
Siding Replacement (fiber-cement)
 |
$13,212 |
$11,633 |
88.1% |
| $12,534 |
$9,428 |
75.2% |
Siding Replacement (foam-backed vinyl)
 |
$12,132 |
$9,668 |
79.7% |
| $12,813 |
$10,175 |
79.4% |
Window Replacement - Vinyl
 |
$13,479 |
$10,913 |
81% |
| $16,871 |
$13,578 |
80.5% |
Window Replacement - Wood
 |
$17,383 |
$13,784 |
79.3% | |
What the Numbers Mean
In a typical real estate transaction, the "cost recouped" for a given remodeling project depends on a variety of unpredictable factors, many of which are more important than the construction cost. These factors include the condition of the rest of the house, the value of similar homes nearby, and the rate at which property values are changing in the surrounding area. A home's urban, suburban, or rural setting also affects its value, as does the availability and cost of new and existing homes in the immediate vicinity.
Where resale value is a major factor in a homeowner's decision to remodel, the best course of action is to consult with a local remodeler about construction cost, and ask an experienced Realtor about home prices in the neighborhood.
Remodel Cost versus Value Data Resource: HomeTech Information Systems
Direct access to this page - http://costvsvalue.jeffdaley.com/
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