Remodeling Cost versus Value

This annual publication is always a useful reference for those who want to spruce up a home they plan to sell in the next couple of years.

"Remodeling magazine’s annual 'Cost vs. Value Report' shows exterior and replacement projects bring the biggest return. Home rehabbers who are considering a move in the not-too-distant future should focus mostly on exterior upgrades. That’s the message from REALTORS® who participated in Remodeling magazine’s 20th annual 'Cost vs. Value Report', done in cooperation with REALTOR® Magazine.

REALTORS® in 65 markets were given construction specs and costs on 29 upscale and midrange projects and asked to estimate the percentage return at resale. Of projects that saw national cost recovery rates of more than 80 percent in 2007, only one — a minor kitchen remodel, with 83 percent of cost recovered — was a strictly interior job. The others were an upscale siding replacement using fiber cement materials (88.1 percent), a wood deck addition (85.4 percent), midrange vinyl siding replacement (83.2 percent), and upscale vinyl and midrange wood window replacements (81 percent and 81.2 percent, respectively)."

For the full Realtor Magazine article: http://www.realtor.org/rmomag.NSF/pages/2007CostvsValue?OpenDocument