Feature: 2005 Cost vs. Value Report Master Suite Addition

FEATURE: 2005 COST vs. VALUE REPORT

Remodeling's Payoff

Midrange Master Suite Addition
Project Description: On a house with two or three bedrooms, add a 24-by-16-foot master bedroom suite over a crawl space. 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 walls, ceiling, and trim. General and spot lighting. Exhaust fan.

Midrange Master suite addition
	Job Cost	Resale Value	Cost Recouped
National Average:	$73,370	$60,460	82.4%
East Average:	$75,959	$64,419	84.8%
Midwest Average:	$77,343	$57,592	74.5%
South Average:	$65,037	$52,977	81.5%
West Average:	$77,640	$69,425	89.4%

Upscale Master Suite Addition
Project Description: Add a spacious sleeping area with lounging/sitting area adjacent to large master bath. Include custom bookcases and built-in storage with millwork details; high-end gas fireplace with stone hearth and custom mantle; and large walk-in closet/dressing area. Add French doors accessing outdoor space. Bath: Include a large walk-in shower with dual shower system, stone shower walls and floor, and custom frameless glass enclosure. Add whirlpool tub bordered on two sides by windows and built into granite or marble platform. Include two sinks in separate custom vanities with stone countertops and large mirrors. Create partitioned area for luxury one-piece toilet. General: Add bar sink, undercounter refrigerator, custom cabinetry, granite or marble countertop, and microwave. Include soundproofing, in-floor heating, custom wall finishes and hardware, general and spot lighting.

upscale Master suite addition
	Job Cost	Resale Value	Cost Recouped
National Average:	$137,891	$110,512	80.1%
East Average:	$140,808	$113,387	80.5%
Midwest Average:	$142,727	$105,329	73.8%
South Average:	$127,990	$103,373	80.8%
West Average:	$143,026	$122,484	85.6%

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.