We're excited to include some new projects, as well as new interactive Web features in this year's report," said Sal Alfano, Editorial Director of REMODELING. "Recognizing that curb appeal continues to play a strong role in a home's resale value, we added a Garage Door Replacement project to both the midrange and the upscale project lists." Both projects rank high in their respective categories, for two main reasons: they are among the least expensive projects in the survey, and they improve curb appeal in a way that can affect a potential buyer's first impression and, consequently, a home's resale value.
3-D Google SketchUp renderings of these two new garage-door projects have also been added to this year's Report. Like all of the other projects in the Cost vs. Value Report, you can click on the project name in the data tables, then "look around" just by moving the cursor inside the QuickTime movie player. You can also download the complete SketchUp model.
The comparison tool, which allows users to compare data with other cities, as well as to other years, now permits users to compare any two years from 2007 to 2010-11.
A preview of the national tables is included with this release. Any excerpts from these data tables must be attributed to Hanley Wood, LLC.
About REMODELING's Cost vs. Value Report Published for 24 years, REMODELING's prestigious Cost vs. Value Report compares construction cost with resale value for popular home improvement projects in 80 U.S. markets. REMODELING magazine reaches 80,000 remodeling professionals who are the top influencers, specifers and purchasers of products and services in the $299 billion remodeling industry. Construction costs are provided by Hometech Information Systems (http://www.hometechonline.com), a remodeling estimating software company based in Bethesda, MD. Resale value data are aggregated from estimates provided by members of the National Association of Realtors (http://www.realtor.org) through an email survey broadcast by Realtor Magazine. Indianapolis-based Specpan, a market research company, hosts the web-based survey, collects and compiles the data, and provides pre-and post-survey consulting.
REMODELING's 2010-11 Cost vs. Value Report - Preview
2010-11 National Averages Midrange Projects Job Cost Resale Value Cost Recouped Attic Bedroom Remodel $ 51,428 $ 37,142 72.2% Back-up Power Generator $ 14,718 $ 7,136 48.5% Basement Remodel $ 64,519 $ 45,186 70.0% Bathroom Addition $ 40,710 $ 21,695 53.3% Bathroom Remodel $ 16,634 $ 10,668 64.1% Deck Addition (wood) $ 10,973 $ 7,986 72.8% Deck Addition (composite) $ 15,620 $ 10,337 66.2% Entry Door Replacement (steel) $ 1,218 $ 1,243 102.1% Entry Door Replacement (fiberglass) $ 3,576 $ 2,147 60.0% Family Room Addition $ 85,740 $ 53,624 62.5% Garage Addition $ 60,608 $ 35,876 59.2% Garage Door Replacement $ 1,291 $ 1,083 83.9% Home Office Remodel $ 28,888 $ 13,235 45.8% Major Kitchen Remodel $ 58,367 $ 40,126 68.7% Master Suite Addition $108,090 $ 68,146 63.0% Minor Kitchen Remodel $ 21,695 $ 15,790 72.8% Roofing Replacement $ 21,488 $ 12,790 59.5% Siding Replacement (vinyl) $ 11,357 $ 8,223 72.4% Sunroom Addition $ 75,224 $ 36,540 48.6% Two-Story Addition $165,243 $107,338 65.0% Window Replacement (vinyl) $ 11,066 $ 7,920 71.6% Window Replacement (wood) $ 12,027 $ 8,707 72.4% Upscale Projects Job Cost Resale Value Cost Recouped Bathroom Addition $ 78,409 $ 41,562 53.0% Bathroom Remodel $ 53,759 $ 30,738 57.2% Deck Addition (composite) $ 38,382 $ 22,154 57.7% Garage Addition $ 90,053 $ 48,278 53.6% Garage Door Replacement $ 3,545 $ 2,476 69.8% Grand Entrance (fiberglass) $ 7,700 $ 4,979 64.7% Major Kitchen Remodel $113,464 $ 67,746 59.7% Master Suite Addition $232,062 $122,370 52.7% Roofing Replacement $ 38,022 $ 21,120 55.5% Siding Replacement (fiber-cement) $ 13,382 $ 10,707 80.0% Siding Replacement (foam-backed vinyl) $ 13,973 $ 10,119 72.4% Window Replacement (vinyl) $ 14,284 $ 10,368 72.6% Window Replacement (wood) $ 18,226 $ 12,303 67.5%
Copyright 2010 Hanley Wood LLC. Reprinted with permission. Complete data for the REMODELING 2010-11 Cost vs. Value Report is available online at http://www.costvsvalue.com.
About Hanley Wood Hanley Wood, LLC, is the premier media and information company serving housing and construction. Through media event and marketing platforms, the company produces award-winning magazines and websites, marquee trade shows and events, rich data and custom marketing solutions. The company also is North America's leading publisher of home plans. Hanley Wood Business Media (Washington, D.C.), publishes more than 30 award-winning residential and commercial construction titles, including METALMAG, EcoHome, BUILDER, REMODELING, CUSTOM HOME, ARCHITECT and residential architect. Hanley Wood Business Media also offers the construction industry's foremost collection of websites, including Builder Online, Remodeling Online, and ebuild, the comprehensive online guide to building products, as well as the largest collection of house plans online through eplans.com and Dream Home Source.
Founded in 1976, Hanley Wood is one of the ten largest B-to-B media companies in the United States. Hanley Wood is owned by affiliates of JPMorgan Partners, which uses CCMP Capital Advisors to manage this investment.
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