Is Remodeling Worth the Cost?
When it comes to remodeling, homeowners frequently ask the question, “Is it worth the cost of remodeling?” Why begin a renovation if the end result is minimal increase in resale value? Our goal at Terbrock Remodeling & Construction is to make your work worth your time and investment.
The benefit for improving your home is closely monitored by realtor services and research firms each year. Realtor Magazine and the National Association of Realtors recently released their 2014 Cost vs. Value survey results conducted by The Farnsworth Group. Here are some of their recent findings about the average remodeling resale benefits in the greater St. Louis area.
| PROJECT | JOB COST |
RESALE VALUE | COST RECOUPED | JOB COST |
RESALE VALUE | COST RECOUPED | |
|---|---|---|---|---|---|---|---|
| Attic Bedroom | $49,378 | $33,595 | 68.0% | $53,527 | $43,713 | 81.7% | |
| Backup Power Generator | $11,698 | $5,990 | 51.0% | $12,057 | $7,150 | 59.3% | |
| Basement Remodel | $62,455 | $39,433 | 63.0% | $66,841 | $42,074 | 62.9% | |
| Bathroom Addition | $38,305 | $18,837 | 49.0% | $41,115 | $24,055 | 58.5% | |
| Bathroom Remodel | $16,145 | $9,317 | 58.0% | $17,452 | $10,768 | 61.7% | |
| Deck Addition (composite) | $15,477 | $9,603 | 62.0% | $16,298 | $11,119 | 68.2% | |
| Deck Addition (wood) | $9,551 | $6,512 | 68.0% | $10,337 | $7,952 | 76.9% | |
| Entry Door Replacement (fiberglass) | $2,829 | $1,434 | 51.0% | $2,896 | $1,994 | 68.9% | |
| Entry Door Replacement (steel) | $1,171 | $719 | 61.0% | $1,240 | $1,046 | 84.3% | |
| Family Room Addition | $80,541 | $48,656 | 60.0% | $86,447 | $61,017 | 70.6% | |
| Garage Addition | $50,045 | $28,812 | 58.0% | $53,311 | $32,052 | 60.1% | |
| Garage Door Replacement | $1,535 | $935 | 61.0% | $1,607 | $1,315 | 82.0% | |
| Home Office Remodel | $27,847 | $11,193 | 40.0% | $29,232 | $15,679 | 53.6% | |
| Major Kitchen Remodel | $54,907 | $33,805 | 62.0% | $57,479 | $42,143 | 73.3% | |
| Master Suite Addition | $103,440 | $58,799 | 57.0% | $110,733 | $74,846 | 68.0% | |
| Minor Kitchen Remodel | $18,865 | $12,305 | 65.0% | $19,797 | $15,412 | 77.8% | |
| Roofing Replacement | $18,785 | $9,603 | 51.0% | $20,202 | $11,771 | 58.3% | |
| Siding Replacement (vinyl) | $11,496 | $7,074 | 62.0% | $12,429 | $8,680 | 69.8% | |
| Sunroom Addition | $73,731 | $31,691 | 43.0% | $77,936 | $40,163 | 51.5% | |
| Two-Story Addition | $156,156 | $93,367 | 60.0% | $165,445 | $110,166 | 66.6% | |
| Window Replacement (vinyl) | $9,992 | $6,210 | 62.0% | $10,504 | $9,211 | 87.7% | |
| Window Replacement (wood) | $10,919 | $6,804 | 62.0% | $11,419 | $9,810 | 85.9% |
| PROJECT | JOB COST |
RESALE VALUE | COST RECOUPED | JOB COST |
RESALE VALUE | COST RECOUPED | |
|---|---|---|---|---|---|---|---|
| Bathroom Addition | $72,618 | $36,296 | 50.0% | $77,058 | $43,713 | 56.7% | |
| Bathroom Remodel | $51,592 | $26,802 | 52.0% | $54,276 | $31,152 | 57.4% | |
| Deck Addition (composite) | $35,181 | $19,723 | 56.0% | $37,392 | $23,226 | 62.1% | |
| Garage Addition | $82,489 | $42,115 | 51.0% | $87,426 | $43,264 | 49.5% | |
| Garage Door Replacement | $2,781 | $1,698 | 61.0% | $2,886 | $2,221 | 76.9% | |
| Grand Entrance (fiberglass) | $7,331 | $3,889 | 53.0% | $7,549 | $5,399 | 71.5% | |
| Major Kitchen Remodel | $110,008 | $59,699 | 54.0% | $113,934 | $71,667 | 63.0% | |
| Master Suite Addition | $225,475 | $111,086 | 49.0% | $238,860 | $140,237 | 59.0% | |
| Roofing Replacement | $34,360 | $16,468 | 48.0% | $39,893 | $21,096 | 52.9% | |
| Siding Replacement (fiber-cement) | $13,412 | $9,596 | 72.0% | $14,610 | $12,020 | 82.3% | |
| Siding Replacement (foam-backed vinyl) | $14,251 | $8,711 | 61.0% | $15,468 | $11,240 | 72.7% | |
| Window Replacement (vinyl) | $13,408 | $8,370 | 62.0% | $13,944 | $11,291 | 81.0% | |
| Window Replacement (wood) | $16,823 | $10,169 | 60.0% | $17,344 | $13,724 | 79.1% |
