Cost vs. Value of Remodeling Projects for 2015 – Basement Friday

ROI-2015a-1

Each year, Remodeling Magazine comes out with its Cost vs. Value rankings of several key home remodeling projects nationwide.  The rankings are based on the comparison of the average costs per project with the value that the projects retain over 102 nationwide markets.

This year for 2015, the national average cost for Basement Remodeling was $65,442.00.  The average retained value of that same basement remodel was  $47,637.  A basement remodel project gives the homeowner an average  72.8%  rate of return on the original costs invested.  That’s a great return on investment.

If you need space in your home and have a basement, why add on when you can use what you already have?

Let’s Get Your Project Started Today!

2015 Midrange

                                               National Averages                    New England

Project Job
Cost
Resale Value Cost Recouped Job
Cost
Resale Value Cost Recouped
Attic Bedroom $51,696 $39,908 77.2% $56,435 $45,091 79.9%
Backup Power Generator $12,135 $7,263 59.9% $12,554 $7,731 61.6%
Basement Remodel $65,442 $47,637 72.8% $70,651 $45,560 64.5%
Bathroom Addition $39,578 $22,875 57.8% $42,701 $22,828 53.5%
Bathroom Remodel $16,724 $11,707 70.0% $18,120 $12,385 68.4%
Deck Addition (composite) $15,912 $10,816 68.0% $16,665 $11,055 66.3%
Deck Addition (wood) $10,048 $8,085 80.5% $10,828 $8,669 80.1%
Entry Door Replacement (fiberglass) $2,926 $2,107 72.0% $3,003 $1,914 63.7%
Entry Door Replacement (steel) $1,230 $1,252 101.8% $1,287 $1,191 92.5%
Family Room Addition $84,201 $53,955 64.1% $89,316 $54,211 60.7%
Garage Addition $52,382 $33,938 64.8% $57,377 $36,082 62.9%
Garage Door Replacement $1,595 $1,410 88.4% $1,674 $1,411 84.0%
Home Office Remodel $29,066 $14,155 48.7% $30,761 $15,091 49.1%
Major Kitchen Remodel $56,768 $38,485 67.8% $59,476 $39,649 66.7%
Manufactured Stone Veneer $7,150 $6,594 92.2% $7,229 $6,278 86.9%
Master Suite Addition $111,245 $68,596 61.7% $116,514 $71,282 61.2%
Minor Kitchen Remodel $19,226 $15,255 79.3% $20,359 $15,258 74.9%
Roofing Replacement $19,528 $13,975 71.6% $21,576 $15,034 69.7%
Siding Replacement (vinyl) $12,013 $9,694 80.7% $12,876 $10,578 82.2%
Sunroom Addition $75,726 $36,704 48.5% $79,661 $37,446 47.0%
Two-Story Addition $161,925 $103,848 64.1% $173,745 $108,428 62.4%
Window Replacement (vinyl) $11,198 $8,163 72.9% $10,854 $8,126 75.0%
Window Replacement (wood) $11,341 $8,937 78.8% $11,891 $8,666 72.9%

For more information, check out Remodeling Magazine.