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OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®



Remodeling
2004 Cost vs. Value Report

National Averages

MAJOR KITCHEN REMODEL
Update an outmoded 200-square-foot kitchen with new cabinets, laminate countertops, and standard double-tub stainless-steel sink with standard single-lever faucet. Include energy-efficient wall oven, cooktop, ventilation system, built-in microwave, dishwasher, and garbage disposer. Add custom lighting and new resilient floor. Finish with painted walls, trim, and ceiling. Include 30 linear feet of semi-custom grade wood cabinets, including a 3-by-5-foot island.

National Average
Job cost: $42,660
Value at sale: $33,890

Cost Recouped: 79.4%


BATHROOM REMODEL
Update bathroom that’s at least 25 years old. Replace all fixtures to include standard-sized tub with ceramic tile surround, toilet, solid-surface vanity counter with integral double sink, recessed medicine cabinet, ceramic tile floor, and vinyl wallpaper.
National Average
Job cost: $9,861
Value at sale: $8,887
Cost Recouped: 90.1%

MASTER SUITE ADDITION
On a house with two or three bedrooms, add a 24-by-16-foot master bedroom suite over a crawlspace. Include walk-in closet/dressing area, whirlpool tub in ceramic tile platform, separate 3-by-4-foot ceramic tile shower, and double-bowl vanity with solid surface countertop. Bedroom floor is carpet; bath floor is ceramic tile. Paint the walls, ceiling, and trim. Add general and spot lighting and exhaust fan.
National Average
Job cost: $70,245
Value at sale: $56,257
Cost Recouped: 80.1%

FAMILY ROOM ADDITION
Add a 16-by-25-foot room on a crawl space foundation with vinyl siding and fiberglass shingle roof. Include drywall interior with batt insulation, prefinished hardwood floor, and 180 square feet of glazing, including windows, atrium-style exterior doors, and two operable
skylights. Tie into existing heating and cooling.
National Average
Job cost: $52,562
Value at sale: $42,347
Cost Recouped: 80.6%

WINDOW REPLACEMENT
Replace 10 existing 3-by-5-foot double-hung windows with vinyl- or aluminum-clad, double-glazed, wood replacement windows. Wrap existing exterior trim as required to match. Don’t disturb existing interior trim.
National Average
Job cost: $9,273
Value at sale: $7,839
Cost Recouped: 84.5%

ROOFING REPLACEMENT
Remove existing roofing to bare wood and dispose of properly. Install 30 squares of fiberglass asphalt shingles with new felt underlayment, galvanized drip edge, and mill-finish aluminum flashing.
National Average
Job cost: $11,376
Value at sale: $9,197
Cost Recouped: 80.8%

ATTIC BEDROOM
In a house with two or three bedrooms, convert unfinished space in attic to a 15-by-15-foot bedroom and a 5-by-7-foot shower bath. Add a 15-foot shed dormer and four new windows. Insulate and finish ceiling and walls; carpet unfinished floor. Extend existing heating and central air conditioning to new space. Retain existing stairs.
National Average
Job cost: $35,960
Value at sale: $29,725
Cost Recouped: 82.7%

BASEMENT REMODEL
Create a 20-by-30-foot entertaining area with wet bar, a 5-by-8-foot full bath, and a 12-by-12-foot auxiliary room. Exterior walls are insulated. Include five six-panel primed hardboard doors. Main room includes 15 recessed ceiling light fixtures, three surface-mounted light fixtures, and snap-together laminate flooring system. Bathroom includes standard white toilet, vanity with cultured marble top, resilient vinyl flooring, two-piece fiberglass shower unit, a light/fan combination, vanity light fixture, and recessed medicine cabinet. Bar area includes 10 linear feet of raised panel oak cabinets with laminate
countertops, stainless steel bar sink, single-lever bar faucet, under-counter refrigerator, and vinyl floor tile.
National Average
Job cost: $47,888
Value at sale: $36,457
Cost Recouped: 76.1%

SUNROOM ADDITION
Add a 200-square-foot sunroom to a two-story house. Form and pour footings for slab-on-grade foundation. Use exposed post-and-beam framing on interior side and extruded aluminum window frame-and-flashing system with insulated, low-E, laminated, or tempered glazing. Provide for natural ventilation using screens and ceiling fan. Insulate all non-glass areas; provide movable shades for glass area.
National Average
Job cost: $31,063
Value at sale: $22,002
Cost Recouped: 70.8%

DECK ADDITION
Add 16-by-20-foot deck using pressure-treated SYP joists supported by 4-by-4 posts set into concrete footings. Install composite deck material in a simple linear pattern. Include a built-in bench, a planter of the same decking material, and stairs. Provide a railing system made of the same composite material as the decking or a compatible vinyl system.
National Average
Job cost: $6,917
Value at sale: $6,000
Cost Recouped: 86.7%

EDITOR'S NOTE: Remodeling magazine, published by Hanley-Wood LLC, has been publishing this report annually for more than 16 years. We’d like to thank the editors and designers at Remodeling, as well as the REALTORS® who contributed to bringing you this report.

REGIONAL STATISTICS: Regional statistics were published in the print version, and were available for limited time at REALTOR® Magazine Online. Due to contractual obligations with Remodeling magazine, the report's publisher, REALTOR® Magazine Online has removed the regional statistics. However, regional statistics are included in reprints.

REPRINTS: Order reprints of the 2004 Cost vs. Value Report for just $6.50 each plus shipping. Contact Reprint Management Services at 717/399-1900, ext. 118, or at dwarfel@reprintbuyer.com.

Remodelingmagazine’s “Cost vs. Value Report” ©2004 by Hanley-Wood LLC. Republication or redissemination of the report is expressly prohibited without written permission of Hanley-Wood LLC.