Cost vs. Value for Your Remodeling Dollar

You may have noticed that the market has been changing for awhile now. Many buyers are out this fall scouting for great deals (they are not hard to find!), and many sellers who are pricing and marketing appropriately are benefiting from the uptick in activity in Lake Oswego (see Ron’s blog post of Monday 9/29). It is also true that some decided in the spring and summer to spruce up their homes in anticipation of changing market conditions, and the expectation of reaping some profit from their efforts when the time comes to sell.

I thought you might find it interesting to note some of the trends in the 2007 “cost vs. value” report for the Portland area according to www.costvsvalue.com. The data for Portland is “Pacific” data as compared to national averages. Here are some tidbits to hopefully give you an idea of what you might expect as a return for your remodeling investment according to this report:

Midrange Projects: Pacific / National Average

Deck Addition/Wood / 108% / 85.4%

Minor Kitchen Remodel / 103.5% / 83%

Window Replacement/Wood / 102.9% / 81.2%

Window Replacement/Vinyl / 98.5% / 79.3%

Basement Remodel / 96.8% / 75.1%

Bathroom Remodel / 96.6% / 78.3%

Major Kitchen Remodel / 96.6% / 78.1%

Two-Story Addition / 90.9% / 73.9%

Garage Addition / 88% / 69.5%

Master Suite Addition / 87.2% / 69%

Roofing Replacement / 85.1% / 67.4%

Family Room Addition / 84.8% / 68.6%

Bathroom Addition / 83.5% / 66%

Upscale Projects:

Window Replacement/Wood / 103.4% / 79.3%

Window Replacement/Vinyl / 100.7% / 81%

Deck Addition/Composite / 98.4% / 77.6%

Major Kitchen Remodel / 88.9% / 74.1%

Bathroom Remodel / 84.7% / 68.4%

Bathroom Addition / 84.1% / 69%

Roofing Replacement (Steel) / 79.9% / 65.7%

Garage Addition / 78.1% / 64.6%

Master Suite Addition / 77.3% / 64.1%

One Reply to “Cost vs. Value for Your Remodeling Dollar”

  1. Some say that the most important is value. Others claim that it is cost. “Cost vs Value” will be the main topic if you decide to make a home remodeling. You will really appreciate the results, no matter the cost, if you are ready to pay the price.

    A helpful advice is to have a look at the average projects’ costs. However, in our contemporary days, not all companies are willing to assist you in the right way. You are really lucky, if you have found such company.

    Do not think just of a standard remodel- you’ll need a specific remodel. If you can’t estimate the exact amount of money that you’ll need, simply go to http://www.remodelormove.com and use the “Cost vs Value” free online calculator. It will help you a lot. After doing this, you can hire a real estate agent and a contractor.

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