Master Suite

Cost vs. Value
Master Suite

2001 Cost vs. Value home

Project (average cost recouped, national)

Minor kitchen remodel (88%)

Bathroom remodel (85%)

Major kitchen remodel (81%)

Family room addition (80%)

Deck addition (77%)

Master suite (75%)

Attic bedroom (74%)

Siding replacement (73%)

Window replacement (69%)

Home office (55%)
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2002 Cost vs. Value Report

2000 Cost vs. Value Report

In new construction, builders set out to create something that could be construed as a suite,” says Wisconsin real estate practitioner Scott Kuesel. “Buyers are saying they’d like to find that in an existing home if they can, and the higher the price range of the home, the more likely you are to find it.”

Real estate pros say the master suite appeals to homebuyers from the middle market on up. The private bathroom is a key part of its charm, especially to couples with teenagers. The aging of the U.S. population makes a ground-floor master suite more appealing because it enables older residents to stay in the home. “Almost any house that doesn’t have this kind of space would benefit from it,” says North Carolina remodeler David Tyson.

Although today’s master suite remodels or additions may include kitchenettes, sitting rooms, and exercise areas, the one we describe here sticks to the basics. With an average cost nationwide of $63,275, the return is $47,699, or 75 percent, with some areas—Boston, Long Island, or Washington, D.C.—seeing a far greater return.

Design Tips for Consumers

Set aside a niche area for a few chairs to give the space a more luxurious feeling.—Kurtz
Build a bench in the shower.—Freysinger
Use radiant floor heating in the bath.—Freysinger

Project Description
On a house with two or three bedrooms, add a 24-by-16-foot master bedroom suite over a crawlspace. Bedroom will include a walk-in closet. Master bath will include dressing area, whirlpool tub, separate ceramic tile shower, and double-bowl vanity. Bedroom floor will be carpeted; floor in bath will be ceramic tile.

Region or City	Job Cost	Resale Value	Cost Recouped
East Average	$65,401	$52,169	80%
Albany, N.Y.	61,119	40,488	66
Baltimore	57,546	32,660	57
Boston	74,989	114,333	152
Burlington, Vt.	50,596	36,650	72
Garden City, N.Y.	74,720	96,820	130
Hartford, Conn.	66,577	38,750	58
Lancaster, Pa.	61,104	39,500	65
Nashua, N.H.	57,285	39,125	68
New Haven, Conn.	66,651	53,329	80
Passaic, N.J.	72,697	35,000	48
Philadelphia	70,315	49,932	71
Pittsburgh	66,336	47,000	71
Providence, R.I.	66,303	50,276	76
Westchester, N.Y.	73,817	60,973	83
Wilmington, Del.	60,966	47,696	78
South Average	$55,388	$42,227	76%
Atlanta	60,062	42,500	71
Birmingham, Ala.	58,485	55,600	95
Columbia, S.C.	48,491	32,392	67
Dallas-Ft. Worth	57,072	39,132	69
Houston	59,676	39,375	66
Jacksonville, Fla.	54,073	32,216	60
Knoxville, Tenn.	52,728	35,736	68
Louisville, Ky.	59,401	52,240	88
Miami	54,773	41,250	75
New Orleans	54,873	47,146	86
Raleigh-Durham, N.C.	49,786	27,370	55
Richmond, Va.	51,502	26,700	52
Tampa, Fla.	53,827	35,800	67
Tulsa, Okla.	54,509	47,450	87
Washington, D.C.	61,569	78,500	127
Midwest Average	$65,525	$42,222	64%
Chicago	78,613	56,600	72
Cleveland	70,412	26,500	38
Columbus, Ohio	63,091	43,063	68
Des Moines, Iowa	60,284	32,240	53
Detroit	69,654	58,650	84
Fargo, N.D.	54,251	35,229	65
Grand Rapids, Mich.	60,299	41,600	69
Indianapolis	63,008	38,750	62
Kansas City, Mo.	63,272	37,150	59
Madison, Wis.	71,287	36,201	51
Milwaukee	72,742	57,000	78
Minneapolis	77,180	44,424	58
St. Louis	71,931	57,100	79
Sioux Falls, S.D.	53,049	34,100	64
Wichita, Kan.	53,795	34,719	65
West Average	$66,786	$54,178	81%
Albuquerque, N.M.	58,044	34,794	60
Boise, Idaho	58,217	40,886	70
Colorado Springs, Colo.	60,183	28,200	47
Denver	60,999	41,152	67
Honolulu	80,822	63,333	78
Las Vegas	63,634	42,250	66
Los Angeles	74,385	68,750	92
Phoenix	60,906	43,958	72
Portland, Ore.	68,290	46,000	67
Sacramento, Calif.	72,085	42,000	58
Salt Lake City	55,930	38,350	69
San Diego	70,668	92,500	131
San Francisco	81,855	126,000	154
Seattle	71,531	74,125	104
Spokane, Wash.	64,235	30,369	47
National Average	$63,275	$47,699	75%

The projects: Attic bedroom >