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REMODELING's 2007 Cost vs.
Value Report |
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The following article is excerpted
from Remodeling magazine’s 2007 remodeling Cost vs. Value Report.
For a free download of data for Cleveland and other cities in Ohio
and the East North Central Region, go to
www.costvsvalue.com.
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Source: REMODELING Magazine |
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Publication date: November 1, 2007
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By Sal Alfano
This year marks the 20th anniversary of
REMODELING's Cost vs. Value Report. It began as a way to help our
readers answer two important questions on the minds of most remodeling
customers: How much will my project cost, and will I get most of my
money back if I have to sell? (continued below) |
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East North Central
(Includes Greater Cleveland Area) |
2007 |
National Averages |
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Job Cost |
Resale Value |
Cost Recouped |
Project Midrange
(click link for project detail) |
Job Cost |
Resale Value |
Cost Recouped |
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$49,897 |
$34,204 |
68.5% |
Attic Bedroom Remodel |
$46,691 |
$35,771 |
76.6% |
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$14,270 |
$6,687 |
46.9% |
Back-Up Power
Generator |
$13,357 |
$7,748 |
58.0% |
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$62,801 |
$38,398 |
61.1% |
Basement Remodel |
$59,435 |
$44,661 |
75.1% |
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$39,522 |
$22,774 |
57.6% |
Bathroom Addition |
$37,202 |
$24,553 |
66.0% |
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$16,631 |
$11,147 |
67.0% |
Bathroom Remodel |
$15,789 |
$12,366 |
78.3% |
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$10,516 |
$7,540 |
71.7% |
Deck Addition - Wood |
$10,347 |
$8,835 |
85.4% |
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$83,494 |
$51,630 |
61.8% |
Family Room Addition |
$78,989 |
$54,148 |
68.6% |
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$56,290 |
$33,080 |
58.8% |
Garage Addition |
$53,897 |
$37,461 |
69.5% |
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$28,305 |
$14,007 |
49.5% |
Home Office Remodel |
$27,193 |
$15,498 |
57.0% |
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$57,496 |
$40,704 |
70.8% |
Major Kitchen Remodel |
$55,503 |
$43,363 |
78.1% |
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$104,666 |
$64,001 |
61.1% |
Master Suite Addition |
$98,863 |
$68,172 |
69.0% |
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$21,863 |
$16,010 |
73.2% |
Minor Kitchen Remodel |
$21,185 |
$17,576 |
83.0% |
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$19,673 |
$11,208 |
57.0% |
Roofing Replacement |
$18,042 |
$12,166 |
67.4% |
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$10,083 |
$8,017 |
79.5% |
Siding Replacement |
$9,910 |
$8,245 |
83.2% |
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$72,276 |
$37,833 |
52.3% |
Sunroom Addition |
$69,817 |
$41,231 |
59.1% |
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$146,337 |
$95,364 |
65.2% |
Two-Story Addition |
$139,297 |
$103,010 |
73.9% |
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$11,011 |
$7,894 |
71.7% |
Window Replacement -
Vinyl |
$10,448 |
$8,290 |
79.3% |
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$12,146 |
$8,758 |
72.1% |
Window Replacement -
Wood |
$11,384 |
$9,241 |
81.2% |
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East North Central
(Includes Greater Cleveland Area) |
2007 |
National Averages |
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Job Cost |
Resale Value |
Cost Recouped |
Project Upscale
(click
link for project detail) |
Job Cost |
Resale Value |
Cost Recouped |
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$76,793 |
$48,864 |
63.6% |
Bathroom Addition |
$73,145 |
$50,442 |
69.0% |
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$52,839 |
$32,458 |
61.4% |
Bathroom Remodel |
$50,590 |
$34,588 |
68.4% |
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$15,357 |
$10,583 |
68.9% |
Deck Addition -
Composite |
$15,039 |
$11,672 |
77.6% |
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$86,532 |
$47,696 |
55.1% |
Garage Addition |
$82,108 |
$53,056 |
64.6% |
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$111,953 |
$74,497 |
66.5% |
Major Kitchen
Remodel |
$109,394 |
$81,096 |
74.1% |
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$228,564 |
$132,123 |
57.8% |
Master Suite
Addition |
$220,149 |
$141,120 |
64.1% |
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$36,449 |
$20,588 |
56.5% |
Roofing Replacement
(steel) |
$33,151 |
$21,769 |
65.7% |
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$13,404 |
$11,040 |
82.4% |
Siding Replacement
(fiber-cement) |
$13,212 |
$11,633 |
88.1% |
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$12,243 |
$9,381 |
76.6% |
Siding Replacement
(foam-backed vinyl) |
$12,132 |
$9,668 |
79.7% |
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$14,289 |
$10,212 |
71.5% |
Window Replacement -
Vinyl |
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