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From: New Homeowner Magazine, Fall 1989
Suppose you add a new bathroom or wood deck to your house. How much of the cost will you get back when you sell?
The chart on this page is reprinted from Remodeling Contractor, a Chicago-based magazine which serves the remodeling industry. For the purposes of its study, Remodeling Contractor assumed that the 14 remodeling
projects in the chart were undertaken by someone who owns a 17 year old single-level ranch home with 1600 square feet of living space (including three bedrooms and one bath). This "average" American home
is supposed to be located in a Midwest suburban area and it is valued at $90,000 before improvements.
The column headed AVERAGE contains the average cost of each project as estimated by leading remodeling contractors. RESALE is the value the improvements adds to the value of the house, as estimated by leading
realtors. FINANCE is the amount a saving and loan company estimated the improvement would add to the finance value of the house. The final figure, AVERAGE, is simply the average of RESALE and FINANCE.
Resale is only one of the considerations you should take into account when you make decisions about remodeling, of course. Insulation will pay for itself by reducing your fuel costs. A deck or swimming pool project
should be undertaken primarily for the pleasure you hope it will add to your life.
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HOME IMPROVEMENT VALUE CHART
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Project
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Cost
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Financed
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Resale
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Return
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Adding A Fireplace
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$3,250
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$4,000 /123%
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$4,225 /130%
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126%
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Adding A Full Bath
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$7,300
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$8,000 /110%
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$9,500 /130%
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120%
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Sunroom/Greenhouse Addition
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$13,500
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$12,000 /89%
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$14,850 /110%
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99%
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Minor Kitchen Remodel
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$6,700
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$6,000 /90%
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$5,700 /85%
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87%
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New Siding/Insulation
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$6,000
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$6,000 /100%
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$4,200 /70%
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85%
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Major Kitchen Remodel
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$18,000
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$16,000 /89%
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$12,600 /70%
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79%
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Adding Insulation
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$1,200
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$1,000 /83%
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$900 /75%
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79%
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New Roofing
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$3,400
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$2,700 /80%
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$2,550 /75%
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77%
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Adding Skylights
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$2,800
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$2,100 /75%
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$2,250 /80%
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77%
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Adding A Wood Deck
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$4,800
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$3,500 /73%
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$3,100 /65%
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69%
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Windows And Doors
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$9,750
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$7,000 /72%
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$6,350 /65%
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68%
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Room Addition
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$28,000
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$20,000 /71%
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$18,200 /65%
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68%
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Remodel Bathroom
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$6,200
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$4,650 /75%
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$3,700 /60%
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67%
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Add A Swimming Pool
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$19,000
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$6,100 /32%
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$5,700 /30%
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31%
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Call for more information: 1-800-747-3324
or: 805-647-3324
FAX: 805-293-8712
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