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Home Remodeling Report 2013: Cost vs. Value

Written by Guest Blogger
December 27th, 2013

home remodeler dallas

According to the 2013 Cost vs. Value Report, this 356 square foot office addition and deck, constructed by von Gillern Construction, will have a high return on investment.

For the 15th year, Remodeling magazine has queried over 3,900 home appraisers and realtors across the country on remodeling jobs, the types of home renovations, cost, cost recouped and the resale value. Home remodeling has definitely turned the corner from the recession: The 2013 national average cost-value ratio rose to 60.6%, ending a six-year decline.

To get a good bang for your buck-and improve your quality of life-consider an exterior update. Curb appeal pays off – those first impressions count a lot. Among the exterior home renovations that are resulting in the most return on investment are grand entrances, deck additions and porches. For midrange composite deck additions, the average U.S. cost is $34,403, and resale value is $20,532. The cost recouped is 59.7 percent.

Interior remodeling jobs that give a great return on investment are attic bedroom additions, and kitchen remodels. Attic rooms are the least expensive way to add space to an existing home (U.S. average job cost: $47,919, resale value: $34,916, cost recouped: 72.9 percent). According to the report, the numbers on major upscale kitchen remodels and midrange major kitchen remodels are 68.9 percent cost recouped and 59.7 percent cost recouped, respectively. An $18,527 minor kitchen renovation, including appliances,replacing cabinets fronts, counter tops and cabinet hardware – with no structural modifications – resulted in 75.4 percent cost recouped.

According to the Joint Center for Housing Studies of Harvard University, the home remodeling market has greatly improved this year, with significant returns on investment. Now is the ideal time to update your home. If you would like to remodel your house with a deck, a kitchen remodel, or home addition, visit von Gillern Construction at their website and give them a call at 972-818-0411. As a Dallas area home remodeler of the highest caliber, Jack von Gillern commits to the highest quality of craftsmanship.