Feature: 2005 Cost vs. Value Report Basement Remodel

FEATURE: 2005 COST vs. VALUE REPORT

Remodeling's Payoff

Basement Remodel
Project Description: Create a 20-by-30-foot entertaining area with wet bar, a 5-by-8-foot full bath, and a 2-by-12-foot auxiliary room. Painted drywall throughout; exterior walls are insulated. Include five six-panel primed hardboard doors. Main room: Fifteen recessed ceiling light fixtures, three surface-mounted light fixtures, and a snap-together laminate flooring system. Bathroom: Toilet, vanity with cultured marble top, resilient vinyl flooring, two-piece fiberglass shower unit, a light/fan combination, and recessed medicine cabinet. Bar area: 10 linear feet of raised-panel oak cabinets with laminate countertops, stainless steel bar sink, under-counter refrigerator, and vinyl floor tile.

Basement remodel
	Job Cost	Resale Value	Cost Recouped
National Average:	$51,051	$46,010	90.1%
East Average:	$52,585	$43,095	82.0%
Midwest Average:	$53,114	$38,767	73.0%
South Average:	$46,501	$45,025	96.8%
West Average:	$53,359	$57,759	108.2%

Remodeling magazine, published by Hanley-Wood LLC, has been producing this report annually for 19 years. We’d like to thank the editors and designers of Remodeling, as well as the REALTORS® who contributed to bringing you this report.

Remodeling magazine’s “Cost vs. Value Report.” ©2005 by Hanley-Wood LLC. Republication of the report is expressly prohibited without written permission of Hanley-Wood LLC.

Order Reprints for Your Clients and Customers
Order reprints of the complete 2005 “Cost vs. Value Report”—all 18 projects—for just $6.50 each plus shipping and handling at www.realtorreprints.com. For information on bulk orders over 500, contact Kelly Dewan at kdewan@reprintbuyer.com or 717/399-1900, ext. 166.

Take the 2006 Survey
Participate in next year’s “Cost vs. Value” survey! Sign up here.

Thank you to those practitioners who took the 2005 survey
Those survey respondents who also provided their contact information are listed here . Your help on this project was invaluable.

* We received sufficient data for 58 out of 60 markets surveyed compared with only 53 last year. Because of insufficient data from Grand Rapids, Mich., and Providence, R.I., no resale value numbers for those markets are provided.