Welcome to the Home Renovation Guide from Valle del Sol Real Estate.com.
How much value do home renovations add to your home?
When planning to renovate your home, you may want to consider the effect of your renovations on the property's resale value. This Home Renovations Guide explains the return on investment that you can expect for different types of renovations. Using these tips, you can plan the most effective use of your renovation dollars. These are not hard facts. The information below is intended merely as a guide to help you make the decisions on what home improvement project to embark on. If you would like this table in PDF format, please follow this link.
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This item could also have a negative influence on the value and the marketability
of your home due to considerations such as maintenance costs, potential
moisture problems or removal costs, if the purchaser does not wish to
keep this item.
For each item at least three or more different companies provided estimates on the approximate cost of the renovation as of November 2004 for average quality finishing unless otherwise stated. The range of costs was averaged based on the estimates.
The dollar amount recoverable is an approximate value that has been concluded through consultations with representatives from the real estate industry, the home improvement business and others with an intimate knowledge of the housing market. It is only an opinion of value and is considered recoverable upon completion. Factors such as market conditions and the relationship of the renovation item to the overall property value must be considered, as well as where the home is located.
Valle del Sol Real Estate.com makes no guarantees or promises direct or implied through this comparison. It is merely a compilation of data publicly available. If you want accurate data, we recommend consulting with a Building Contractor or your real estate professional.
For each item at least three or more different companies provided estimates on the approximate cost of the renovation as of November 2004 for average quality finishing unless otherwise stated. The range of costs was averaged based on the estimates.
The dollar amount recoverable is an approximate value that has been concluded through consultations with representatives from the real estate industry, the home improvement business and others with an intimate knowledge of the housing market. It is only an opinion of value and is considered recoverable upon completion. Factors such as market conditions and the relationship of the renovation item to the overall property value must be considered, as well as where the home is located.
Valle del Sol Real Estate.com makes no guarantees or promises direct or implied through this comparison. It is merely a compilation of data publicly available. If you want accurate data, we recommend consulting with a Building Contractor or your real estate professional.
| Renovation |
Approximate
Cost Range |
Immediate
Value Contribution |
|||
| % |
Amount |
||||
| 1) Interior painting | $2,000-$3,000 | 80-110% | $1,600-$3,300 | ||
| 2) New Flooring | |||||
| a) hardwood | $9,000-$12,000 | 40-60% | $3,600-$7,200 | ||
| b) laminate | $3,000-$5,000 | 60-75% | $1,800-$3,800 | ||
| c) carpet | |||||
| - avg quality | $3,600-$5,400 | 60-75% | $2,200-$4,000 | ||
| - high quality | $5,400-$8,000 and up | 60-75% | $3,200 and up | ||
| 3) Remodel 4-piece bathroom (new fixtures, flooring and ceramic tile) |
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| a) avg quality | $5,000-$9,500 | 50-70% | $2,500-$6700 | ||
| b) high quality | $12,000 and up | 45-70% | $5,400 and up | ||
| 4) Remodel kitchen (cabinets, flooring, ceramic tile) |
|||||
| a) avg quality | $10,000-$20,000 | 70-85% | $7,000-$17,000 | ||
| b) high quality | $20,000 up | 65-80% | $13,000 and up | ||
| 5) Add-ons (family room, bedroom) | $120-$170 per sq/ft | 50-80% | $60-$136 | ||
| 6) Install new furnace | |||||
| a) medium efficiency | $2,000-$3,500 | 75-90% | $1,500-$3,150 | ||
| b) high efficiency | $3,500-$4,500 | 50-75% | $1,750-$3,375 | ||
| 7) Add air-conditioning | $2,500-$3,500 | 0-50% | $700-$1,800 | ||
| 8) Add a gas fireplace | |||||
| a) avg quality | $1,800-$2,500 | 55-75% | $1,000-$1,900 | ||
| b) high quality | $2,500 and up | 50-70% | $1,300 and up | ||
| 9) Basement development (drywall finish, bathroom) |
$22,000-$36,000 $22-36 per sq/ft |
50-70% 50-70% |
$11,000-$25,000 $11-25 per sq/ft |
||
| 10) Install new vinyl siding or stucco, insulation, aluminum soffits and eavesthrough | $6,000-$8,000 | 75-100% | $4,500-$8,000 | ||
| 11) Replace windows including one bay picture window and the balance all casement windows | $10,000-$13,000 | 60-75% | $6,000-$9,750 | ||
| 12) Install a Skylight with opening capacity | $1,000-$3,500 | 0-30 % | $0-$300 | ||
| 13) Add on a double detached
garage (22' x 24') including concrete pad |
$10,000-$17,000 | 75-100% | $7,500-$17,000 | ||
| 14) New Shingles | |||||
| a) Asphalt shingles-standard quality (20-25 years) | $1,800-$2,500 | 70-90% | $1,260-$2,250 | ||
| b) Asphalt shingles-high quality (30 years) | $2,500-$3,400 | 65-85% | $1,600-$2,900 | ||
| c) Cedar Shakes | ~$5,000 | 40-60% | $2,000-$3,000 | ||
| d) Concrete | ~$10,000 | 15-35% | $1,500-$3,000 | ||
| 15) Patio Deck (raised, 12' x 20') | $4,000-$5,500 | 50-60% | $2,000-$3,000 | ||
| 16) Landscaping | |||||
| a) standard | $10,00-$25,000 | 30-50% | $3,000-$12,500 | ||
| b) high end | $25,000 and up | 30-50% | $7,500 and up | ||
| 17) Add a Sunroom (3 season) (16'x10) | $15,000-$20,000 | 50-70% | $7,500-$14,000 | ||
| 18) Add a Hot Tub/Jacuzzi (standard) | $5,000-$8,000 | 0-40%* | $0-$3,200* | ||
| 19) Add a Sauna | $3,500-$7,000 | 0-20%* | $0-$1,400* | ||
| 20) Install a Swimming pool (outdoor) | $35,000-$50,000 | 0-25%* | $0-$12,500* | ||