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

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.