The numbers are in from the National Association of Realtors and the National Association of the Remodeling Industry on the cost and return on remodeling projects.
We’ve put the analysis into a quick guide for agents to share with their clients.
INTERIOR
New Master Suite/Owner’s Suite
NARI Remodelers’ cost estimate: $150,000
NAR’s estimated cost recovered: $75,000
Percent of value recovered: 50 percent
Kitchen Upgrade
NARI Remodelers’ cost estimate: $38,300
NAR’s estimated cost recovered: $20,000
Percent of value recovered: 52 percent
Complete Kitchen Renovation
NARI Remodelers’ cost estimate: $68,000
NAR’s estimated cost recovered: $40,000
Percent of value recovered: 59 percent
Bathroom Renovation
NARI Remodelers’ cost estimate: $35,000
NAR’s estimated cost recovered: $20,000
Percent of value recovered: 57 percent
Add New Bathroom
NARI Remodelers’ cost estimate: $60,000
NAR’s estimated cost recovered: $30,000
Percent of value recovered: 50 percent
Basement Conversion to Living Area
NARI Remodelers’ cost estimate: $46,900
NAR’s estimated cost recovered: $30,000
Percent of value recovered: 64 percent
Attic Conversion to Living Area
NARI Remodelers’ cost estimate: $80,000
NAR’s estimated cost recovered: $45,000
Percent of value recovered: 56 percent
Insulation Upgrade
NARI Remodelers’ cost estimate: $2,400
NAR’s estimated cost recovered: $2,000
Percent of value recovered: 83 percent
Closet Renovation
NARI Remodelers’ cost estimate: $6,300
NAR’s estimated cost recovered: $2,500
Percent of value recovered: 40 percent
New Wood Flooring
NARI Remodelers’ cost estimate: $4,700
NAR’s estimated cost recovered: $5,000
Percent of value recovered: 106 percent
Hardwood Flooring Refinish
NARI Remodelers’ cost estimate: $2,600
NAR’s estimated cost recovered: $2,600
Percent of value recovered: 100 percent
HVAC Replacement
NARI Remodelers’ cost estimate: $8,200
NAR’s estimated cost recovered: $7,000
Percent of value recovered: 85 percent
EXTERIOR
New Steel Front Door
NARI Remodelers’ cost estimate: $2,000
NAR’s estimated cost recovered: $1,500
Percent of value recovered: 75 percent
New Fiberglass Front Door
NARI Remodelers’ cost estimate: $2,700
NAR’s estimated cost recovered: $2,000
Percent of value recovered: 74 percent
New Garage Door
NARI Remodelers’ cost estimate: $2,100
NAR’s estimated cost recovered: $2,000
Percent of value recovered: 95 percent
New Fiber-Cement Siding
NARI Remodelers’ cost estimate: $19,700
NAR’s estimated cost recovered: $15,000
Percent of value recovered: 76 percent
New Vinyl Siding
NARI Remodelers’ cost estimate: $15,800
NAR’s estimated cost recovered: $10,000
Percent of value recovered: 63 percent
New Roofing
NARI Remodelers’ cost estimate: $7,500
NAR’s estimated cost recovered: $8,000
Percent of value recovered: 107 percent
New Vinyl Windows
NARI Remodelers’ cost estimate: $22,500
NAR’s estimated cost recovered: $16,000
Percent of value recovered: 71 percent
New Wood Windows
NARI Remodelers’ cost estimate: $35,000
NAR’s estimated cost recovered: $20,000
Percent of value recovered: 57 percent