Renovation return quick guide

by Timothy Inklebarger

The numbers are in from the National Association of Realtors and the National Association of the Remodeling Industry on the cost and return on remodeling projects.
We’ve put the analysis into a quick guide for agents to share with their clients.

INTERIOR

New Master Suite/Owner’s Suite
NARI Remodelers’ cost estimate: $150,000
NAR’s estimated cost recovered: $75,000
Percent of value recovered: 50 percent

Kitchen Upgrade
NARI Remodelers’ cost estimate: $38,300
NAR’s estimated cost recovered: $20,000
Percent of value recovered: 52 percent

Complete Kitchen Renovation
NARI Remodelers’ cost estimate: $68,000
NAR’s estimated cost recovered: $40,000
Percent of value recovered: 59 percent

Bathroom Renovation
NARI Remodelers’ cost estimate: $35,000
NAR’s estimated cost recovered: $20,000
Percent of value recovered: 57 percent

Add New Bathroom
NARI Remodelers’ cost estimate: $60,000
NAR’s estimated cost recovered: $30,000
Percent of value recovered: 50 percent

Basement Conversion to Living Area
NARI Remodelers’ cost estimate: $46,900
NAR’s estimated cost recovered: $30,000
Percent of value recovered: 64 percent

Attic Conversion to Living Area
NARI Remodelers’ cost estimate: $80,000
NAR’s estimated cost recovered: $45,000
Percent of value recovered: 56 percent

Insulation Upgrade
NARI Remodelers’ cost estimate: $2,400
NAR’s estimated cost recovered: $2,000
Percent of value recovered: 83 percent

Closet Renovation
NARI Remodelers’ cost estimate: $6,300
NAR’s estimated cost recovered: $2,500
Percent of value recovered: 40 percent

New Wood Flooring
NARI Remodelers’ cost estimate: $4,700
NAR’s estimated cost recovered: $5,000
Percent of value recovered: 106 percent

Hardwood Flooring Refinish
NARI Remodelers’ cost estimate: $2,600
NAR’s estimated cost recovered: $2,600
Percent of value recovered: 100 percent

HVAC Replacement
NARI Remodelers’ cost estimate: $8,200
NAR’s estimated cost recovered: $7,000
Percent of value recovered: 85 percent

EXTERIOR

New Steel Front Door
NARI Remodelers’ cost estimate: $2,000
NAR’s estimated cost recovered: $1,500
Percent of value recovered: 75 percent

New Fiberglass Front Door
NARI Remodelers’ cost estimate: $2,700
NAR’s estimated cost recovered: $2,000
Percent of value recovered: 74 percent

New Garage Door
NARI Remodelers’ cost estimate: $2,100
NAR’s estimated cost recovered: $2,000
Percent of value recovered: 95 percent

New Fiber-Cement Siding
NARI Remodelers’ cost estimate: $19,700
NAR’s estimated cost recovered: $15,000
Percent of value recovered: 76 percent

New Vinyl Siding
NARI Remodelers’ cost estimate: $15,800
NAR’s estimated cost recovered: $10,000
Percent of value recovered: 63 percent

New Roofing
NARI Remodelers’ cost estimate: $7,500
NAR’s estimated cost recovered: $8,000
Percent of value recovered: 107 percent

New Vinyl Windows
NARI Remodelers’ cost estimate: $22,500
NAR’s estimated cost recovered: $16,000
Percent of value recovered: 71 percent

New Wood Windows
NARI Remodelers’ cost estimate: $35,000
NAR’s estimated cost recovered: $20,000
Percent of value recovered: 57 percent

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