Informed Consumers Know the Added Value of Remodeling & Weigh Cost versus Investment

People are remodeling their homes more than any other time in history. As the existing housing supply ages in the U.S., this trend is expected to continue and increase.

Living in your home that you just love, you plan to stay there for at least five or more years, and it’s located in a great neighborhood – than remodeling makes perfect financial sense.

Remodeling will give your kitchen a fresh updated look, provide your family the additional space it needs, or it can make an ordinary bath luxurious. A well-planned additional square-footage, efficient and up-to-date kitchens, design-smart bathrooms generally increase the value of your home.

Additionally, home owners are capturing the increasing rental market by remodeling an extra room or doing a basement conversion which can bring in long term rental income without having to move out of your home.

Before making a final decision about remodeling, you need to know the value-added benefit of your proposed project and how home improvements affect property values in your geographic region.

While we live in a global economy, property values remain closely tied to local trends and conditions. The information provided in the table below gives you some useful trend information regarding home improvement returns on investments. These average percentages come from the remodeling 2017 Cost VS Value. http://www.remodeling.hw.net/ Benchmarks

Project Type SEATTLE
MIDRANGE Job Cost Resale Value Cost Recouped
Attic Bedroom Remodel 58,532 49,092 83.9%
Backup Power Generator 13,980 6,337 45.3%
Basement Remodel 80,568 67,176 83.4%
Bathroom Addition 48,428 30,696 63.4%
Bathroom Remodel 21,443 15,648 73.0%
Deck Addition (composite) 18,677 13,756 73.7%
Deck Addition (wood) 12,343 10,864 88.0%
Family Room Addition 100,098 71.119 71.0%
Garage Addition 56,666 45,795 80.8%
Home Office Remodel 32,051 17,070 53.3%
Major Kitchen Remodel 67,580 49,644 73.5%
Master Suite Addition 130,781 90.977 69.6%
Minor Kitchen Remodel 22,765 21,389 94.0%
Siding Replacement 16,127 13,003 80.6%
Sunroom Addition 82,370 44,362 53.9%
Two-Story Addition 185,253 156,300 84.4%
Window Replacement (vinyl) 11,259 10,697 95.0%
Window Replacement (wood) 12,283 12,215 99.5%