costvsvalue

2014 Cost vs. Value: 5 Mid-Range Remodeling Projects That Offer the Biggest Returns

By Melissa Dittmann Tracey, REALTOR® Magazine

Just replacing that front door may offer some of the biggest bang for a remodelers’ buck, according to the 2014 Cost vs. Value Report. It’s one of the least expensive remodeling jobs and offers the potential of a 96.6 percent return on investment at resale – the highest of 35 remodeling projects recently analyzed. Front door replacement has topped the Cost vs. Value report since the first survey in 2009.

Remodeling Magazine, in conjunction with REALTOR® Magazine, each year takes a look at some of the most popular remodeling projects and gauges how well the projects retain their value at resale.

For mid-range projects, here are projects that retain their value by the highest rates, according to national averages:

1. Entry door replacement (steel)

Estimated job cost: $1,162

Estimated resale value: $1,122

Cost recouped: 96.6%

2. Deck addition (wood)

Estimated job cost: $9,539

Estimated resale value: $8,334

Cost recouped: 87.4%

3. Attic bedroom

Estimated job cost: $49,438

Estimated resale value: $41,656

Cost recouped: 84.3%

4. Garage door replacement

Estimated job cost: $1,534

Estimated resale value: $1,283

Cost recouped: 83.7%

5. Minor kitchen remodel

Estimated job cost: $18,856

Estimated resale value: $15,585

Cost recouped: 82.7%

View more remodeling projects that offer some of the biggest paybacks in REALTOR® Magazine’s feature article, “2013-14 Cost vs. Value: Remodeling Pays Off Big Time.” Also view HouseLogic’s slideshow of Best Bets for Adding Value to Your Home in 2014.

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