Feature: 2005 Cost vs. Value Report Kitchen Remodel

FEATURE: 2005 COST vs. VALUE REPORT

Remodeling's Payoff

Minor Kitchen Remodel
Project Description: In a functional but dated 200-square-foot kitchen with 30 linear feet of cabinetry and countertops, leave cabinet boxes in place but replace fronts with new raised-panel wood doors and drawers. Replace wall oven and cooktop with new energy-efficient models. Replace laminate countertops. Install midpriced sink and faucet. Repaint trim, add wall covering, and replace existing flooring with resilient flooring.

Minor kitchen remodel
	Job Cost	Resale Value	Cost Recouped
National Average:	$14,913	$14,691	98.5%
East Average:	$15,172	$15,316	100.9%
Midwest Average:	$15,426	$13,151	85.3%
South Average:	$13,998	$13,498	96.4%
West Average:	$15,328	$17,209	112.3%

Midrange Major Kitchen Remodel
Project Description: Update an outmoded 200-square-foot kitchen with design and installation of a functional layout of 30 linear feet of semicustom-grade wood cabinets, including a 3-by-5-foot island, 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, garbage disposal; and custom lighting. Add resilient flooring. Finish with painted walls, trim, and ceiling.

Midrange Major kitchen remodel
	Job Cost	Resale Value	Cost Recouped
National Average:	$43,862	$39,920	91.0%
East Average:	$44,659	$42,490	95.1%
Midwest Average:	$45,237	$36,691	81.1%
South Average:	$41,133	$36,329	88.3%
West Average:	$45,242	$45,353	100.2%

Upscale Major Kitchen Remodel
Project Description: Update outmoded 200-square-foot kitchen with 30 linear feet of top-of-the-line custom cherry cabinets with built-in sliding shelves and other interior accessories. Include stone countertops with imported ceramic or glass tile backsplash; built-in refrigerator, cooktop, and 36-inch commercial grade range and vent hood; and built-in warming drawer, trash compactor, and combination microwave and convection oven. Install high-end undermount sink with designer faucets and built-in water filtration system. Add general and task lighting, including low-voltage under-cabinet lights. Install cork flooring with cherry trim.

upscale Major kitchen remodel
	Job Cost	Resale Value	Cost Recouped
National Average:	$81,552	$69,194	84.8%
East Average:	$82,528	$70,718	85.7%
Midwest Average:	$83,333	$64,586	77.5%
South Average:	$77,786	$65,111	83.7%
West Average:	$83,720	$77,812	92.9%

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.