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2000 Cost vs. Value report
THE PROJECTS | Project | (average cost recouped, national) | | Minor kitchen remodel | 88% | | Two-story addition | 84% | | Bathroom addition | 82% | | Bathroom remodel | 82% | | Exterior painting | 76% | | Attic bedroom | 75% |
For reports on the following four additional remodeling projects, see “Cost vs. Value” at www.realtormag.com. | Project | (average cost recouped, national) | | Master suite | 72% | | Basement refinishing | 69% | | Reroofing | 60% | | Sunroom addition | 60% |
You’ve got a nice listing that would be a great catch--with a little fixing up.
On another listing, the sellers are thinking of redoing the kitchen before they officially put their house on the market.
The buyers of the first property and the sellers of the second have the same two questions: How much will remodeling cost? And how much of the cost can we get back in a resale?
Helping you answer these questions is what this “2000 Cost vs. Value Report” is all about. Compiled by Remodeling magazine and published annually in REALTOR® Magazine through an editorial partnership, the study compares the cost of and expected return on 10 popular home improvements, six of which we present here: a minor kitchen remodel, two-story addition, bathroom addition, bathroom remodel, family room addition, and exterior painting. The other four projects are online at www.realtormag.com.
The “Cost vs. Value Report” is the result of interviews with 300 real estate salespeople and appraisers representing 60 different market areas. They were asked the percent of cost they thought would be recouped on each project if the house were sold within a year.
Bear in mind that return on investment in remodeling can vary widely depending on the home and neighborhood.
Real estate professionals who participated in this study say popular projects such as kitchen and bath remodels remain a solid investment for homeowners.
The minor kitchen remodel was rated as the most likely to return value for cost. HomeTech, the Maryland-based construction software publisher that supplied estimates on all of the projects, says the kitchen remodel would average about $14,847 nationally. Survey participants say the project would retrieve some 88 percent of that cost. Respondents rated the two-story addition second most valuable. The cost estimated by HomeTech is $67,743; our survey participants say it would bring back 84 percent.
Check out the expert comments that go with each project. John Duncan, an architect with Moon Brothers, a design/build remodeling firm in Atlanta; Pam Enz, an interior designer with M/A/Peterson in Edina, Minn.; and Ron Roell, owner of Ron Roell Interior Remodeling Specialist in Cincinnati, offer tips on getting the most value from the projects. Pass their ideas on to customers who have renovation on their minds.
Editor’s note:Remodelingmagazine, published by Hanley-Wood LLC, Washington, D.C., has been publishing the “Cost vs. Value Report” annually for more than a decade. We’d like to thank the editors and designers at Remodelingand the contributors listed on page 64 for helping us bring this report to you.
Remodeling magazine’s “Cost vs. Value Report,” © 2000, by Hanley-Wood LLC. Republication or redissemination of the report is expressly prohibited without written permission of Hanley-Wood LLC. See page 57 for information about ordering reprints.
Minor kitchen remodel
Homeowners who can’t afford to tear out their kitchen and start from scratch can still give it a fresh, clean look. If they replace floors, countertops, and cabinet facings, install a new oven and cooktop, and add a coat or two of paint, they’ll spend a fraction what they’d spend on a full-fledged remodel--and they’ll see a greater return on their investment to boot.
“To really gut a kitchen, you have to throw a lot of money in there,” says Iowa real estate practitioner Ray Dennis. But with the facelift, he says, “you can go from a dungeon to something that’s pretty presentable without spending a lot of money.”
How much? HomeTech estimates the cost of the job specified below at $14,847 as a national average. For the money, minor kitchen remodels return more--88 percent--than any of the other projects in the Cost vs. Value survey.
Still, the national figure would be a Bay-area bargain. In San Francisco a kitchen makeover runs nearly $19,000. That sounds like a lot until you consider that it’s likely to return 147 percent of cost ($27,800) in resale.
DESIGN TIPS FOR CONSUMERS - Use more expensive door and drawer hardware to give the kitchen a richer feel.--Enz
- Deploy task lighting under upper cabinets in place of a single central light, so you’re not working in your own shadow.--Duncan
- Consider leaving doorways open--that is, doorless--to ease flow and create better visuals of adjacent spaces.--Duncan
PROJECT DESCRIPTION--In a functional but dated 200-square-foot kitchen with 30 linear feet of cabinetry and countertops, refinish existing cabinets and install new energy-efficient wall oven and cooktop, laminate countertops, mid-priced sink and faucet, wall covering, and resilient flooring. Repaint. Job includes new raised-panel wood doors on cabinets.
| Region or City | Job Cost | Resale Value | Cost Recouped | | East Avge. | $15,468 | $14,906 | 96% | | Albany, N.Y. | $14,466 | $9,167 | 63 | | Baltimore | $13,520 | $10,198 | 75 | | Boston | $17,408 | $16,167 | 93 | | Burlington, Vt. | $13,250 | $10,600 | 80 | | Garden City, N.Y. | $17,238 | $24,203 | 140 | | Hartford, Conn. | $15,683 | $13,821 | 88 | | Lancaster, Pa. | $14,534 | $7,692 | 53 | | Nashua, N.H. | $13,655 | $15,258 | 112 | | New Haven, Conn. | $15,750 | $20,507 | 130 | | Passaic, N.J. | $17,170 | $13,800 | 80 | | Philadelphia | $16,359 | $14,000 | 86 | | Pittsburgh | $15,670 | $14,324 | 91 | | Providence, R.I. | $15,616 | $20,000 | 128 | | Westchester, N.Y. | $17,576 | $22,417 | 128 | | Wilmington, Del. | $14,128 | $11,436 | 81 |
| Region or City | Job Cost | Resale Value | Cost Recouped | | South Avge. | $13,177 | $12,157 | 92% | | Atlanta | $13,479 | $13,326 | 99 | | Birmingham, Ala. | $13,114 | $18,040 | 138 | | Columbia, S.C. | $12,195 | $10,920 | 90 | | Dallas-Ft. Worth | $13,385 | $12,750 | 95 | | Houston | $13,885 | $9,100 | 66 | | Jacksonville, Fla. | $12,844 | $7,500 | 58 | | Knoxville, Tenn. | $12,547 | $6,805 | 54 | | Louisville, Ky. | $14,128 | $10,356 | 73 | | Miami | $13,601 | $11,800 | 87 | | New Orleans | $12,776 | $15,309 | 120 | | Raleigh-Durham, N.C. | $12,303 | $9,561 | 78 | | Richmond, Va. | $12,709 | $11,750 | 92 | | Tampa, Fla. | $13,047 | $13,000 | 100 | | Tulsa, Okla. | $12,979 | $11,833 | 91 | | Washington, D.C. | $14,669 | $20,300 | 138 |
| Region or City | Job Cost | Resale Value | Cost Recouped | | Midwest Avge. | $15,101 | $11,918 | 79% | | Chicago | $16,981 | $15,302 | 90 | | Cleveland | $16,156 | $11,100 | 69 | | Columbus, Ohio | $14,858 | $12,372 | 83 | | Des Moines, Iowa | $14,128 | $6,830 | 48 | | Detroit | $16,129 | $16,480 | 102 | | Fargo, N.D. | $14,061 | $10,334 | 73 | | Grand Rapids, Mich. | $14,750 | $10,667 | 72 | | Indianapolis | $14,838 | $9,375 | 63 | | Kansas City, Mo. | $14,872 | $13,434 | 90 | | Madison, Wis. | $16,089 | $10,625 | 66 | | Milwaukee | $16,224 | $11,680 | 72 | | Minneapolis | $16,359 | $15,685 | 96 | | Sioux Falls, S.D. | $12,506 | $8,250 | 66 | | St. Louis | $15,791 | $14,190 | 90 | | Wichita, Kan. | $12,776 | $12,440 | 97 | | Region or City | Job Cost | Resale Value | Cost Recouped | | West Avge. | $15,641 | $13,571 | 87% | | Albuquerque, N.M. | $13,790 | $8,052 | 58 | | Boise, Idaho | $14,264 | $11,000 | 77 | | Colorado Springs, Colo. | $14,061 | $9,781 | 70 | | Denver | $14,372 | $13,100 | 91 | | Honolulu | $18,522 | $17,252 | 93 | | Las Vegas | $15,115 | $12,016 | 79 | | Los Angeles | $17,576 | $15,500 | 88 | | Phoenix | $14,493 | $8,375 | 58 | | Portland, Ore. | $15,616 | $17,250 | 110 | | Sacramento, Calif. | $16,765 | $6,500 | 39 | | Salt Lake City | $13,452 | $8,000 | 59 | | San Diego | $16,900 | $16,800 | 99 | | San Francisco | $18,928 | $27,800 | 147 | | Seattle | $15,818 | $18,600 | 118 | | Spokane, Wash. | $14,940 | $13,542 | 91 | | National Average | $14,847 | $13,138 | 88% |
Two-story addition
An addition of this size is costly and risky but potentially more rewarding than any other kind of remodeling activity. It’s costly, as confirmed by HomeTech, which estimates that the project as described would run $67,743 (and the price would be much higher in markets such as Honolulu, $87,509, or San Francisco, $85,255). It’s risky because the new addition could end up looking like what it is--an addition. Only careful design and seamless execution make this pricey piece of work pay off at the settlement table.
Real estate pros suggest that, based on a nationwide average, the two-story addition would fetch 84 percent of cost in a resale, about $56,770, making it the second most value-enhancing of the projects in this year’s survey.
DESIGN TIPS FOR CONSUMERS - You can get an exciting new feeling for the bedroom by vaulting the second-floor ceilings.--Duncan
- Put in a high transom window or a dormer to allow more light into the second floor.--Duncan
- Put concrete flooring in the crawl space to add room for storage and keep the earth smell out.--Enz
PROJECT DESCRIPTION Add a 24-by-16-foot two-story wing, over a crawl space, with a first-floor family room, a second-floor bedroom with full bath, and 11 windows total. Include a prefabricated fireplace in the family room and an atrium-style exterior door. Floors are carpeted, and walls are of painted drywall. The 5-by-8-foot bathroom has a fiberglass bath/shower, standard-grade toilet, wood vanity with ceramic tile sink top, ceramic tile flooring, and mirrored medicine cabinet with light strip above. Bathroom walls are wallpapered. Add new heating and cooling system to handle addition.
| Region or City | Job Cost | Resale Value | Cost Recouped | | East Average | $70,403 | $61,011 | 87% | | Albany, N.Y. | $65,721 | $44,667 | 68 | | Baltimore | $61,823 | $43,685 | 71 | | Boston | $79,115 | $57,133 | 72 | | Burlington, Vt. | $61,877 | $50,400 | 81 | | Garden City, N.Y. | $79,356 | $109,458 | 138 | | Hartford, Conn. | $70,917 | $66,435 | 94 | | Lancaster, Pa. | $66,131 | $31,548 | 48 | | Nashua, N.H. | $61,579 | $52,000 | 84 | | New Haven, Conn. | $71,755 | $72,502 | 101 | | Passaic, N.J. | $77,790 | $59,600 | 77 | | Philadelphia | $73,702 | $60,000 | 81 | | Pittsburgh | $70,045 | $48,987 | 70 | | Providence, R.I. | $71,024 | $52,875 | 74 | | Westchester, N.Y. | $79,707 | $112,500 | 141 | | Wilmington, Del. | $65,508 | $53,373 | 81 |
| Region or City | Job Cost | Resale Value | Cost Recouped | | South Average | $60,150 | $54,279 | 90% | | Atlanta | $62,055 | $53,333 | 86 | | Birmingham, Ala. | $60,222 | $68,067 | 113 | | Columbia, S.C. | $55,471 | $55,279 | 100 | | Dallas-Ft. Worth | $57,248 | $46,750 | 82 | | Houston | $63,180 | $43,200 | 68 | | Jacksonville, Fla. | $60,368 | $45,600 | 76 | | Knoxville, Tenn. | $57,745 | $41,384 | 72 | | Louisville, Ky. | $64,803 | $55,819 | 86 | | Miami | $62,587 | $64,000 | 102 | | New Orleans | $58,941 | $53,165 | 90 | | Raleigh-Durham, N.C. | $55,790 | $52,400 | 94 | | Richmond, Va. | $58,683 | $43,333 | 74 | | Tampa, Fla. | $59,756 | $52,561 | 88 | | Tulsa, Okla. | $58,616 | $49,288 | 84 | | Washington, D.C. | $66,781 | $90,000 | 135 |
| Region or City | Job Cost | Resale Value | Cost Recouped | | Midwest Average | $69,189 | $51,170 | 74% | | Chicago | $77,100 | $56,710 | 74 | | Cleveland | $75,577 | $52,025 | 69 | | Columbus, Ohio | $68,712 | $48,307 | 70 | | Des Moines, Iowa | $64,573 | $36,910 | 57 | | Detroit | $72,766 | $71,520 | 98 | | Fargo, N.D. | $63,907 | $52,406 | 82 | | Grand Rapids, Mich. | $67,571 | $55,083 | 82 | | Indianapolis | $67,727 | $48,417 | 71 | | Kansas City, Mo. | $67,236 | $45,434 | 68 | | Madison, Wis. | $72,699 | $41,250 | 57 | | Milwaukee | $75,758 | $54,773 | 72 | | Minneapolis | $76,262 | $64,983 | 85 | | Sioux Falls, S.D. | $58,601 | $40,000 | 68 | | St. Louis | $71,074 | $52,233 | 73 | | Wichita, Kan. | $58,272 | $47,500 | 82 | | Region or City | Job Cost | Resale Value | Cost Recouped | | West Average | $71,232 | $60,619 | 85% | | Albuquerque, N.M. | $62,207 | $26,709 | 43 | | Boise, Idaho | $64,568 | $50,877 | 79 | | Colorado Springs, Colo. | $64,273 | $42,027 | 65 | | Denver | $65,552 | $45,240 | 69 | | Honolulu | $87,509 | $79,251 | 91 | | Las Vegas | $68,625 | $50,560 | 74 | | Los Angeles | $79,202 | $79,033 | 100 | | Phoenix | $66,343 | $39,550 | 60 | | Portland, Ore. | $70,798 | $54,400 | 77 | | Sacramento, Calif. | $76,025 | $46,667 | 61 | | Salt Lake City | $62,009 | $36,350 | 59 | | San Diego | $76,319 | $66,200 | 87 | | San Francisco | $85,255 | $142,000 | 167 | | Seattle | $71,888 | $96,600 | 134 | | Spokane, Wash. | $67,900 | $53,827 | 79 |
| National Average | $67,743 | $56,770 | 84% |
Bathroom addition
Today’s homeowners are used to having a bathroom on every floor. “Two and a half baths is pretty much a necessity,” says Tennessee real estate pro Margaret Fraser. “Buyers like one for the master and one for the children, with a half-bath downstairs.”
So it’s tough to convince potential buyers of the virtues of a house that has only one full bath, whatever those virtues might be.
Adding a bathroom inside existing space can be done for $14,216, estimates HomeTech. From an investment standpoint, bathroom additions are one of the smartest projects to undertake, because, averaged nationwide, homeowners can recoup 82 percent of that investment, and in fast-appreciating real estate markets like San Francisco or the well-heeled Westchester County suburbs of New York, they can do considerably better than that. Texas real estate practitioner Irby Roselle advises sparing no expense. “When it comes to the bathroom, the grander it is, the more people like it,” he notes.
DESIGN TIPS FOR CONSUMERS - Paint one wall—or a border--with a leather or metallic specialty finish to give the room a “designed” look.--Enz
- Install double showerheads for greater comfort and convenience.--Enz
- If the tub wall is the outside wall, use glass block and skylights to bring the light in.--Duncan
PROJECT DESCRIPTION Add a second full bath to a house with one or one-and-a-half baths. The 6-by-8-foot bath should be within the existing floor plan in an inconspicuous spot convenient to the bedrooms. Include cultured-marble vanity top, molded sink, standard bathtub with shower, low-profile toilet, lighting, mirrored medicine cabinet, linen storage, vinyl wallpaper, ceramic tile floor, and ceramic tile walls in tub area.
| Region or City | Job Cost | Resale Value | Cost Recouped | | East Average | $14,863 | $13,057 | 88% | | Albany, N.Y. | $14,110 | $8,833 | 63 | | Baltimore | $12,871 | $8,811 | 68 | | Boston | $16,915 | $12,967 | 77 | | Burlington, Vt. | $12,717 | $8,800 | 69 | | Garden City, N.Y. | $16,772 | $25,290 | 151 | | Hartford, Conn. | $15,079 | $12,224 | 81 | | Lancaster, Pa. | $13,914 | $6,547 | 47 | | Nashua, N.H. | $12,961 | $12,333 | 95 | | New Haven, Conn. | $14,998 | $14,483 | 97 | | Passaic, N.J. | $16,506 | $8,900 | 54 | | Philadelphia | $15,899 | $13,100 | 82 | | Pittsburgh | $15,080 | $11,865 | 79 | | Providence, R.I. | $14,877 | $18,750 | 126 | | Westchester, N.Y. | $16,775 | $22,000 | 131 | | Wilmington, Del. | $13,468 | $10,954 | 81 | | Region or City | Job Cost | Resale Value | Cost Recouped | | South Average | $12,438 | $10,847 | 87% | | Atlanta | $12,775 | $12,592 | 99 | | Birmingham, Ala. | $12,012 | $12,594 | 105 | | Columbia, S.C. | $11,522 | $11,096 | 96 | | Dallas-Ft. Worth | $12,813 | $10,250 | 80 | | Houston | $13,335 | $9,800 | 73 | | Jacksonville, Fla. | $11,910 | $7,500 | 63 | | Knoxville, Tenn. | $11,845 | $5,430 | 46 | | Louisville, Ky. | $13,498 | $11,793 | 87 | | Miami | $12,876 | $10,400 | 81 | | New Orleans | $12,112 | $14,198 | 117 | | Raleigh-Durham, N.C. | $11,170 | $9,140 | 82 | | Richmond, Va. | $11,965 | $9,250 | 77 | | Tampa, Fla. | $12,328 | $9,667 | 78 | | Tulsa, Okla. | $12,360 | $11,590 | 94 | | Washington, D.C. | $14,046 | $17,400 | 124 | | Region or City | Job Cost | Resale Value | Cost Recouped | | Midwest Average | $14,399 | $10,394 | 72% | | Chicago | $16,100 | $12,010 | 75 | | Cleveland | $15,779 | $5,625 | 36 | | Columbus, Ohio | $14,163 | $9,908 | 70 | | Des Moines, Iowa | $13,553 | $6,280 | 46 | | Detroit | $15,592 | $15,240 | 98 | | Fargo, N.D. | $10,925 | $7,919 | 72 | | Grand Rapids, Mich. | $14,517 | $12,043 | 83 | | Indianapolis | $14,132 | $8,417 | 60 | | Kansas City, Mo. | $14,438 | $14,011 | 97 | | Madison, Wis. | $15,630 | $10,375 | 66 | | Milwaukee | $15,902 | $10,710 | 67 | | Minneapolis | $15,929 | $11,959 | 75 | | Sioux Falls, S.D. | $11,880 | $7,250 | 61 | | St. Louis | $15,253 | $14,727 | 97 | | Wichita, Kan. | $12,192 | $9,440 | 77 | | Region or City | Job Cost | Resale Value | Cost Recouped | | West Average | $15,165 | $12,516 | 83% | | Albuquerque, N.M. | $13,250 | $6,380 | 48 | | Boise, Idaho | $14,166 | $9,620 | 68 | | Colorado Springs, Colo. | $13,349 | $6,062 | 45 | | Denver | $13,514 | $10,700 | 79 | | Honolulu | $17,565 | $14,454 | 82 | | Las Vegas | $14,420 | $9,905 | 69 | | Los Angeles | $16,933 | $14,833 | 88 | | Phoenix | $13,628 | $6,375 | 47 | | Portland, Ore. | $15,743 | $12,749 | 81 | | Sacramento, Calif. | $16,564 | $9,667 | 58 | | Salt Lake City | $12,807 | $6,000 | 47 | | San Diego, Calif. | $16,445 | $14,600 | 89 | | San Francisco | $18,874 | $32,600 | 173 | | Seattle | $15,640 | $20,600 | 132 | | Spokane, Wash. | $14,574 | $13,195 | 91 | | National Average | $14,216 | $11,703 | 82% |
Bathroom remodel
Nothing kills a sale faster than the faded beauty of yesteryear’s bathroom, unless, of course, it’s the faded beauty of yesteryear’s kitchen.
“Kitchens, baths, and mechanicals,” Columbus, Ohio, appraiser Charles Pavey says. Those are what buyers check out first.
Kitchens and bathrooms “date” more rapidly than the rest of the house. And after kitchens, bathrooms cost more to remodel per labor-intense square foot than any other room. HomeTech estimates it would cost $9,748 to remodel the 5-by-9-foot bathroom described. For value returned, that project ranks behind the minor kitchen remodel and the two-story addition, and equals the (pricier) bathroom addition. Real estate pros put return on investment at 82 percent nationwide ($7,952), though some markets report substantially higher returns. Among them are Providence, R.I., where professionals estimate a 127 percent return ($12,625) on a $9,964 project. In the white-hot San Francisco market, a $12,604 bath remodel is estimated to bring back $19,100—152 percent.
DESIGN TIPS FOR CONSUMERS - You could recoup $1,000 just by using designer colors.--Roell
- To add character, use a decorative framed mirror from an antique store instead of a plate glass mirror.--Enz
- Tiling the ceiling and covering the entire opening to the shower stall converts it to a steam bath at no cost.--Enz
PROJECT DESCRIPTION Update an existing 5-by-9-foot bathroom that is at least 25 years old with a new standard-size tub, toilet, and solid-surface vanity counter with integral double sink. Install new lighting, faucets, mirrored medicine cabinet, ceramic tile floor, and ceramic tile walls in tub/shower area (vinyl wallpaper elsewhere).
| Region or City | Job Cost | Resale Value | Cost Recouped | | East Average | $10,039 | $8,914 | 89% | | Albany, N.Y. | $9,579 | $5,333 | 56 | | Baltimore | $9,012 | $5,574 | 62 | | Boston | $11,062 | $9,900 | 89 | | Burlington, Vt. | $8,674 | $7,300 | 84 | | Garden City, N.Y. | $11,255 | $15,751 | 140 | | Hartford, Conn. | $10,104 | $7,047 | 70 | | Lancaster, Pa. | $9,639 | $5,455 | 57 | | Nashua, N.H. | $8,624 | $9,552 | 111 | | New Haven, Conn. | $10,063 | $10,185 | 101 | | Passaic, N.J. | $11,100 | $7,300 | 66 | | Philadelphia | $10,792 | $8,000 | 74 | | Pittsburgh | $10,201 | $9,055 | 89 | | Providence, R.I. | $9,964 | $12,625 | 127 | | Westchester, N.Y. | $11,277 | $13,583 | 120 | | Wilmington, Del. | $9,237 | $7,045 | 76 |
| Region or City | Job Cost | Resale Value | Cost Recouped | | South Average | $8,770 | $7,559 | 86% | | Atlanta | $8,979 | $8,993 | 100 | | Birmingham, Ala. | $8,825 | $9,020 | 102 | | Columbia, S.C. | $8,272 | $7,114 | 86 | | Dallas-Ft. Worth | $8,493 | $7,000 | 82 | | Houston | $9,260 | $6,100 | 66 | | Jacksonville, Fla. | $8,437 | $5,200 | 62 | | Knoxville, Tenn. | $8,362 | $4,520 | 54 | | Louisville, Ky. | $9,312 | $5,993 | 64 | | Miami | $9,070 | $7,660 | 84 | | New Orleans | $8,493 | $9,909 | 117 | | Raleigh-Durham, N.C. | $8,125 | $6,100 | 75 | | Richmond, Va. | $8,550 | $7,583 | 89 | | Tampa, Fla. | $8,745 | $7,292 | 83 | | Tulsa, Okla. | $8,926 | $8,758 | 98 | | Washington, D.C. | $9,697 | $12,150 | 125 |
| Region or City | Job Cost | Resale Value | Cost Recouped | | Midwest Average | $9,909 | $7,302 | 74% | | Chicago | $11,009 | $10,473 | 95 | | Cleveland | $10,581 | $7,200 | 68 | | Columbus, Ohio | $9,621 | $7,139 | 74 | | Des Moines, Iowa | $9,247 | $4,250 | 46 | | Detroit | $10,636 | $12,000 | 113 | | Fargo, N.D. | $9,463 | $5,985 | 63 | | Grand Rapids, Mich. | $9,560 | $7,283 | 76 | | Indianapolis | $9,651 | $4,542 | 47 | | Kansas City, Mo. | $9,911 | $7,092 | 72 | | Madison, Wis. | $10,286 | $6,875 | 67 | | Milwaukee | $10,611 | $7,840 | 74 | | Minneapolis | $10,669 | $6,911 | 65 | | Sioux Falls, S.D. | $8,302 | $4,500 | 54 | | St. Louis | $10,509 | $10,616 | 101 | | Wichita, Kan. | $8,584 | $6,830 | 80 |
| Region or City | Job Cost | Resale Value | Cost Recouped | | West Average | $10,274 | $8,032 | 78% | | Albuquerque, N.M. | $9,162 | $3,852 | 42 | | Boise, Idaho | $9,501 | $6,880 | 72 | | Colorado Springs, Colo. | $9,360 | $4,648 | 50 | | Denver | $9,610 | $8,600 | 89 | | Honolulu | $11,676 | $9,568 | 82 | | Las Vegas | $9,802 | $7,123 | 73 | | Los Angeles | $11,405 | $8,100 | 71 | | Phoenix | $9,292 | $5,138 | 55 | | Portland, Ore. | $10,422 | $9,300 | 89 | | Sacramento, Calif. | $11,032 | $3,833 | 35 | | Salt Lake City | $8,944 | $4,875 | 55 | | San Diego, Calif. | $11,111 | $8,800 | 79 | | San Francisco | $12,604 | $19,100 | 152 | | Seattle | $10,378 | $12,080 | 116 | | Spokane, Wash. | $9,818 | $8,576 | 87 | | National Average | $9,748 | $7,952 | 82% |
Family room addition
Want to increase square footage? Add a family room. Homeowner uses for the room change over the years as the kids grow up, but the room itself never outlives its usefulness. “Five years from now, that remodeled kitchen is going to be an old kitchen,” Florida real estate appraiser Reginald Carter points out. “A third of its life expectancy will be used up. With a family room, at least you have the square footage.”
Real estate professionals say the functional flexibility of the family room excites the imaginations of buyers. “If you have one with a fireplace and a wet bar, or room for a big-screen TV and pool table, buyers envision this grand party they’re going to have and the romantic evenings by the fireplace,” Michigan real estate pro Cecily Bliesath says.
HomeTech estimates the national average cost of building a family room at $47,764. Real estate pros say it will bring back $36,169, or 76 percent of cost.
DESIGN TIPS FOR CONSUMERS - Combine painted and stained woodwork for a classy look at half the cost of all stained.--Roell
- Build cabinetry with retractable doors to conceal the television and other electronics, freeing up the room for multiple uses.--Enz
- Place windows high on walls to allow more space for furniture.--Duncan
PROJECT DESCRIPTION In a style and location appropriate to the existing house, add a 16-by-25-foot room on a new crawl space foundation with wood-joist floor framing, wood siding on exterior walls, and fiberglass shingle roof. Include drywall interior with batt insulation, tongue-and-groove hardwood floor, and 180 square feet of glazing, including windows, atrium-style exterior doors, and two operable skylights. Tie into existing heating and cooling.
| Region or City | Job Cost | Resale Value | Cost Recouped | | East Average | $49,748 | $39,633 | 80% | | Albany, N.Y. | $46,519 | $23,333 | 50 | | Baltimore | $43,476 | $31,721 | 73 | | Boston | $56,084 | $65,333 | 116 | | Burlington, Vt. | $42,606 | $27,000 | 63 | | Garden City, N.Y. | $55,432 | $76,086 | 137 | | Hartford, Conn. | $50,432 | $37,021 | 73 | | Lancaster, Pa. | $46,736 | $17,549 | 38 | | Nashua, N.H. | $43,911 | $33,000 | 75 | | New Haven, Conn. | $50,656 | $41,863 | 83 | | Passaic, N.J. | $55,214 | $29,400 | 53 | | Philadelphia, Pa. | $52,606 | $35,000 | 67 | | Pittsburgh, Pa. | $50,388 | $39,351 | 78 | | Providence, R.I. | $50,215 | $39,250 | 78 | | Westchester, N.Y. | $56,519 | $62,083 | 110 | | Wilmington, Del. | $45,432 | $36,502 | 80 | | Region or City | Job Cost | Resale Value | Cost Recouped | | South Average | $42,530 | $32,251 | 76% | | Atlanta | $43,302 | $31,667 | 73 | | Birmingham, Ala. | $42,171 | $43,276 | 103 | | Columbia, S.C. | $39,215 | $37,368 | 95 | | Dallas-Ft. Worth | $43,041 | $36,250 | 84 | | Houston | $44,650 | $24,500 | 55 | | Jacksonville, Fla. | $41,302 | $24,000 | 58 | | Knoxville, Tenn. | $40,345 | $23,400 | 58 | | Louisville, Ky. | $45,432 | $32,701 | 72 | | Miami | $43,737 | $30,300 | 69 | | New Orleans | $41,085 | $38,201 | 93 | | Raleigh-Durham, N.C. | $39,563 | $27,600 | 70 | | Richmond, Va. | $40,867 | $21,083 | 52 | | Tampa, Fla. | $41,954 | $34,850 | 83 | | Tulsa, Okla. | $41,737 | $26,076 | 62 | | Washington, D.C. | $49,549 | $52,500 | 106 | | Region or City | Job Cost | Resale Value | Cost Recouped | | Midwest Average | $48,550 | $33,962 | 70% | | Chicago | $54,345 | $33,681 | 62 | | Cleveland | $51,954 | $31,875 | 61 | | Columbus, Ohio | $47,780 | $31,211 | 65 | | Des Moines, Iowa | $45,432 | $23,950 | 53 | | Detroit | $51,954 | $50,980 | 98 | | Fargo, N.D. | $45,215 | $34,507 | 76 | | Grand Rapids, Mich. | $47,432 | $36,750 | 77 | | Indianapolis | $47,715 | $27,917 | 59 | | Kansas City, Mo. | $47,824 | $37,135 | 78 | | Madison, Wis. | $51,736 | $30,000 | 58 | | Milwaukee | $52,171 | $35,615 | 68 | | Minneapolis | $52,606 | $40,995 | 78 | | Sioux Falls, S.D. | $40,215 | $26,929 | 67 | | St. Louis | $50,780 | $32,910 | 65 | | Wichita, Kan. | $41,085 | $34,980 | 85 | | Region or City | Job Cost | Resale Value | Cost Recouped | | West Average | $50,228 | $38,831 | 77% | | Albuquerque, N.M. | $44,436 | $19,971 | 45 | | Boise, Idaho | $45,867 | $30,680 | 67 | | Colorado Springs, Colo. | $45,217 | $24,492 | 54 | | Denver, Colo. | $46,258 | $27,900 | 60 | | Honolulu | $59,562 | $40,374 | 68 | | Las Vegas | $48,606 | $32,255 | 66 | | Los Angeles | $56,519 | $54,840 | 97 | | Phoenix | $46,606 | $26,875 | 58 | | Portland, Ore. | $50,215 | $43,000 | 86 | | Sacramento, Calif. | $53,910 | $28,333 | 53 | | Salt Lake City | $43,259 | $26,750 | 62 | | San Diego | $54,345 | $49,800 | 92 | | San Francisco | $61,084 | $91,000 | 149 | | Seattle | $50,867 | $58,000 | 114 | | Spokane, Wash. | $46,663 | $28,199 | 60 | | National Average | $47,764 | $36,169 | 76% |
Exterior painting
Jacksonville, Fla., real estate pro Kathy Shirley says she can tell in seconds which clients maintain their home and which don’t. The well-maintained home is always freshly painted.
Besides protecting wood from the elements, paint provides a tremendous boost to eye appeal by making an old house look like it just took a shower and washed its hair. “Sixty percent of home sales are made before anybody even steps out of the car,” says Cincinnati remodeler Ron Roell. “Your floor plan means about 40 percent.” Painting also provides an opportunity to make a statement with color. “You can take some chances and do fun things with it,” architect John Duncan of Atlanta-based Moon Brothers says.
HomeTech estimates the national average cost of painting a two-story house at $8,336. Real estate practitioners and appraisers suggest that a homeowner would recoup a healthy 75 percent of that--$6,233—in resale.
DESIGN TIPS FOR CONSUMERS - One color for the house, one for the trim, and one for the shutters and other accents makes for a lot more personality.--Enz
- Select colors with all four seasons in mind.--Enz
- For maintenance, hand wash your siding with a mild solution and allow adequate drying time.--Duncan
PROJECT DESCRIPTION Repaint post-1980 two-story wood-sided home. Pressure-wash exterior siding and trim surfaces with hydrosodium chloride to remove mildew and algae. Scrape all peeling paint and feather-sand with electric sanders. Re-caulk all open joints. Spackle open splits in wood surfaces and sand. Re-glaze window mullions. Apply one coat wood primer to the siding, trim, windows, doors, and shutters. Follow with one coat satin acrylic latex paint.
| Region or City | Job Cost | Resale Value | Cost Recouped | | East Average | $8,686 | $7,327 | 84% | | Albany, N.Y. | $8,122 | $2,833 | 35 | | Baltimore | $7,591 | $5,329 | 70 | | Boston | $9,792 | $7,667 | 78 | | Burlington, Vt. | $7,439 | $5,700 | 77 | | Garden City, N.Y. | $9,679 | $13,436 | 139 | | Hartford, Conn. | $8,806 | $5,862 | 67 | | Lancaster, Pa. | $8,160 | $3,829 | 47 | | Nashua, N.H. | $7,667 | $6,825 | 89 | | New Haven, Conn. | $8,844 | $6,254 | 71 | | Passaic, N.J. | $9,641 | $6,625 | 69 | | Philadelphia, Pa. | $9,185 | $8,400 | 91 | | Pittsburgh, Pa. | $8,798 | $4,952 | 56 | | Providence, R.I. | $8,768 | $16,000 | 182 | | Westchester, N.Y. | $9,868 | $9,417 | 95 | | Wilmington, Del. | $7,932 | $6,779 | 85 |
| Region or City | Job Cost | Resale Value | Cost Recouped | | South Average | $7,399 | $6,009 | 81% | | Atlanta | $7,568 | $7,000 | 92 | | Birmingham, Ala. | $7,363 | $3,549 | 48 | | Columbia, S.C. | $6,847 | $5,960 | 87 | | Dallas-Ft. Worth | $7,515 | $6,625 | 88 | | Houston | $7,796 | $2,640 | 34 | | Jacksonville, Fla. | $7,211 | $3,800 | 53 | | Knoxville, Tenn. | $7,044 | $6,030 | 86 | | Louisville, Ky. | $7,933 | $3,950 | 50 | | Miami | $7,637 | $8,100 | 106 | | New Orleans | $7,173 | $7,612 | 106 | | Raleigh-Durham, N.C. | $6,908 | $5,643 | 82 | | Richmond, Va. | $7,136 | $4,500 | 63 | | Tampa, Fla. | $7,325 | $5,833 | 80 | | Tulsa, Okla. | $7,287 | $5,572 | 76 | | Washington, D.C. | $8,236 | $13,325 | 162 | | Region or City | Job Cost | Resale Value | Cost Recouped | | Midwest Average | $8,479 | $5,289 | 62% | | Chicago | $9,534 | $6,495 | 68 | | Cleveland | $9,071 | $4,400 | 49 | | Columbus, Ohio | $8,342 | $3,601 | 43 | | Des Moines, Iowa | $7,933 | $3,220 | 41 | | Detroit | $9,056 | $9,760 | 108 | | Fargo, N.D. | $7,895 | $4,772 | 60 | | Grand Rapids, Mich. | $8,282 | $4,450 | 54 | | Indianapolis | $8,331 | $4,333 | 52 | | Kansas City, Mo. | $8,350 | $6,225 | 75 | | Madison, Wis. | $9,033 | $4,125 | 46 | | Milwaukee | $9,109 | $6,078 | 67 | | Minneapolis | $9,185 | $8,161 | 89 | | St. Louis | $8,866 | $4,653 | 52 | | Sioux Falls, S.D. | $7,022 | $3,125 | 45 | | Wichita, Kan. | $7,173 | $5,940 | 83 |
| Region or City | Job Cost | Resale Value | Cost Recouped | | West Average | $8,782 | $6,305 | 72% | | Albuquerque, N.M. | $7,743 | $2,474 | 32 | | Boise, Idaho | $8,009 | $6,260 | 78 | | Colorado Springs, Colo. | $7,895 | $3,021 | 38 | | Denver | $8,069 | $5,800 | 72 | | Honolulu | $10,400 | $8,840 | 85 | | Las Vegas | $8,487 | $4,624 | 54 | | Los Angeles | $9,868 | $6,833 | 69 | | Phoenix | $8,138 | $4,875 | 60 | | Portland, Ore. | $8,768 | $5,900 | 67 | | Sacramento, Calif. | $9,413 | $3,083 | 33 | | Salt Lake City | $7,553 | $3,750 | 50 | | San Diego | $9,489 | $8,800 | 93 | | San Francisco | $10,627 | $17,200 | 162 | | Seattle | $8,881 | $7,380 | 83 | | Spokane, Wash. | $8,388 | $5,731 | 68 | | National Average | $8,336 | $6,233 | 75% |
CONTRIBUTORS . . .
Resale values for the “2000 Cost vs. Value Report” were estimated by the following real estate sales and appraisal professionals. REALTOR® Magazine is grateful for their assistance.
EAST
ALBANY, N.Y. Nina Amadon, Noreast Real Estate; Phyllis Barbera, Realty USA; Walter Kresge, Albright-KresgeBALTIMORE Robert M. Cushner, RMC Appraisal Services; Hank Edwards, Coldwell Banker Grempler; Daisy Jackson, Century 21 H.T. Brown Real Estate; Paul Lee, Paul E. Lee & Associates BOSTONSidney Goldenberg, Coldwell Banker Hunneman; Judy Leonelli, Century 21 Millennium; David Thomas, Citystate LLC Real Estate BURLINGTON, VT. Carol Audette, Bruce Hewett, and Carol Kinkel, Lang Associates; Hugh R. Bemis, Bemis Appraisal Service; Fred Blais, Fred Blais Appraiser GARDEN CITY, N.Y. Dougall Fraser, Dougall C. Fraser Jr. Inc.; Anne Hagen, Village Properties; Sandra Jaenichen, Stutzmann Realty; John Pastula, John Pastula Real Estate; Diane Sammarco, Diane Sammarco Realty HARTFORD, CONN. Cathy Donnelly, Realty Three Carroll Agostini; Ernest B. Gilmour, Ernest B Gilmour Agency; Vince Lapenta, ERA Sargis Breen; Jose Reategui, Rego Realty LANCASTER, PA. Mary Clinton, Appraisal Associates; C. David Ruff, Century 21 Neighborhood Realty; Earl Shirk, Realty 1 NASHUA, N.H. Denise Barry, Top Sell Realty; Richard H. Dube, GRI, Prudential Crain; Angeline Kopka, Kopka Real Estate; Phil Langelier, Century 21 Cardinal; Jocelyn Lavoie, Carlson GMAC Real Estate NEW HAVEN, CONN. Rob Backhaus, William Raveis Real Estate; Roe Curtis, Curtis-Long Associates; Janet Gall, Southbury Associates; John Gomes, Calcagni Real Estate; Michael Johnson, Taj Real Estate; Barbara Schmerzler, US Homefinders PASSAIC, N.J. Beverly Borsi, Hillcrest Realty; David Fanale, Century 21 Eudan Realty; Ilona Shami, Weichert. REALTORS®; Maryann Taormina, Century 21 Gold Key; Carol Viola, Century 21 ACV Real Estate Associates PHILADELPHIA Carol Alton, Prudential Fox & Roach; Jim Colahan, RE/MAX Eastern; Tracy Meyers, Paul W. Meyers; Hal Solar, Homemart Real Estate; Deborah Solo, Solo Real Estate PITTSBURGH Terri Kulzer-Love, Kulzer & Co; Craig Malitz, Bodnar Real Estate; Joe Moore, Nationwide Appraisal; Lou Spartis, Spartan Realty & Appraisal; Kevin Williams, Century 21 St. Clair PROVIDENCE, R.I. Robert Rondeau, Century 21 Rondeau; Michael Saccoccio, Century 21 Alliance; Robert Scaralia, RE/MAX 1st Choice; Michael Young, Coleman, REALTORS® WESTCHESTER, N.Y. Mary Ellen Bickler, Brown-Bickler & Co.; Gene Endres and J.P. Endres, David Endres Realty; Richard Ferrarone, Landmark Appraisal; Angel Messenger, Claire D. Leone Associates; Pat Warnken, Prudential Centennial WILMINGTON, DEL. George Allen, Allen Appraisal; Steven Sachs, Steven Sachs Appraisal Access; Steve White, First State Appraisals; Steven Witsil, Witsil, REALTORS®
SOUTH
ATLANTA Virginia Bellew, Harry Norman. REALTORS®; William McDaniel, Black Acre Realty; Jim Ware, Northside Realty BIRMINGHAM, ALA. Tom M. Horton Jr., Horton Appraisals; T.L. Inman, Inman Real Estate-Apprasials; Ari Lee, Avenue of Homes; Peggy Ogilvie, Realty South; Jan Watts, Watts Residential SalesCOLUMBIA, S.C. Reid Coope, Century 21 Bob Capes,
REALTORS®; Carl Durham, C&S Appraisal; Linda Gentry, Linda Gentry Real Estate; Jill Moylan, Home Advantage Realty; Susie Satterfield, Coldwell Banker Tom Jenkins Realty DALLAS-FORT WORTH Ken Lampton, RE/MAX Associates; Greg Pape, Abio & Associates; John Scarborough, Crosson Dannis Inc. HOUSTON Frank Dyer, Reliance Appraisal; Betty Leffler, Texas Flagship Property; Irby Rozelle, Coldwell Banker Madeline O’Brien, REALTORS®; Ken Verrett, Acorn Appraisal; Charles Wade, J. E. Elliott Co. JACKSONVILLE, FLA. Reginald M. Carter, Carter Appraisals; Jim Manken, Manken Appraisal; Albert Schall, A. Schall,
REALTOR®; Kathy Shirley, Kathy Shirley, REALTOR®; James Torro, Broom, Moody, Johnson & Grainger KNOXVILLE, TENN. Donny Ellis, Ellis Appraisal; Margaret Fraser, Fraser Properties; Dave Santi, RE/MAX Preferred Properties; Robert W. Tipton, Tipton & Associates Realty; Sandra C. Tuck, Donald White & Associates LOUISVILLE, KY. Saul Anhouse, MJA Inc.; Steve Degaris, Edelen & Edelen, REALTORS®; John Marshall, Elite Homes & REALTORS®; Kris Mueller, Mueller Appraisal; Tim Powers and Darrell Weaver, RE/MAX Properties East MIAMI Susan Alters, Alters Appraisal; Carlos Chaux, Unicasa Group 2000 Realty; Stephen Maltagliati, Appraisalworks; Ann Meng, Buy The Beach Realty; Niurka Serpa, Serpak Group NEW ORLEANS John Clancy, John Clancy Appraisal; Michael Malone, Malone Real Estate; Walter Marschner, Jefferson Parish Appraisal; Al Palumbo, Latter & Blum; Mark O. Rodi, RE/MAX Affiliates; Martha Ann Samuel, Martha Ann Samuel Inc. RALEIGH DURHAM, N.C. Freddy Divallerino and Larry Pulley, Howard Perry & Walston; Kay Galvin, York Properties; Gilbert Hensgen, Hodge & Kittrell, REALTORS®; Bob Mulder, Birch Appraisal RICHMOND, VA. Lummie Jones, Napier Old Colony, REALTORS®;Martha Jo Lanier, Appraisal Associa |
