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Remodeling That Pays
Upgrading your home is always appealing, but which enhancements get you the best return for your money when it´s time to sell? The 2007 Cost vs. Value Report by Remodeling magazine and REALTOR® Magazine has the answer.
Visit REALTOR® Magazine Online's Cost vs. Value page to view reports from previous years, order reprints, and find out how you can take part in next year's survey. Here are the national averages for 10 of the projects in the 2007 report:
MAJOR KITCHEN REMODEL
Update an outmoded 200-square-foot kitchen with new cabinets, laminate countertops, and standard double-tub stainless-steel sink with standard single-lever faucet. Include energy-efficient wall oven, cooktop, ventilation system, built-in microwave, dishwasher, and garbage disposer. Add custom lighting and new resilient floor. Finish with painted walls, trim, and ceiling. Include 30 linear feet of semi-custom grade wood cabinets, including a 3-by-5-foot island.
National Average Mountain Area Average
Job cost: $55,503 Job cost: $53,640
Value at sale: $43,363 Value at Sale: $42,000
Cost Recouped: 78.1% Cost Recouped: 78.3%
BATHROOM REMODEL
Update bathroom that's at least 25 years old. Replace all fixtures to include standard-sized tub with ceramic tile surround, toilet, solid-surface vanity counter with integral double sink, recessed medicine cabinet, ceramic tile floor, and vinyl wallpaper.
National Average Mountain Area Average
Job cost: $15,789 Job cost: $14,955
Value at sale: $12,366 Value at Sale: $12,289
Cost Recouped: 78.3% Cost Recouped: 82.2%
MASTER SUITE ADDITION
On a house with two or three bedrooms, add a 24-by-16-foot master bedroom suite over a crawlspace. Include walk-in closet/dressing area, whirlpool tub in ceramic tile platform, separate 3-by-4-foot ceramic tile shower, and double-bowl vanity with solid surface countertop. Bedroom floor is carpet; bath floor is ceramic tile. Paint the walls, ceiling, and trim. Add general and spot lighting and exhaust fan.
National Average Mountain Area Average
Job cost: $98,863 Job cost: $94,856
Value at sale: $68,172 Value at Sale: $65,121
Cost Recouped: 69% Cost Recouped: 68.7
FAMILY ROOM ADDITION
Add a 16-by-25-foot room on a crawl space foundation with vinyl siding and fiberglass shingle roof. Include drywall interior with batt insulation, prefinished hardwood floor, and 180 square feet of glazing, including windows, atrium-style exterior doors, and two operable skylights. Tie into existing heating and cooling.
National Average Mountain Area Average
Job cost: $78,989 Job cost: $76,068
Value at sale: $54,148 Value at Sale: $51,781
Cost Recouped: 68.6% Cost Recouped: 68.1%
WINDOW REPLACEMENT
Replace 10 existing 3-by-5-foot double-hung windows with vinyl- or aluminum-clad, double-glazed, wood replacement windows. Wrap existing exterior trim as required to match. Don't disturb existing interior trim.
National Average Mountain Area Average
Job cost: $11,384 Job cost: $10,939
Value at sale: $9,241 Value at sale: $8,905
Cost Recouped: 81.2% Cost Recouped: 81.4%
ROOFING REPLACEMENT
Remove existing roofing to bare wood and dispose of properly. Install 30 squares of fiberglass asphalt shingles with new felt underlayment, galvanized drip edge, and mill-finish aluminum flashing.
National Average Mountain Area Average
Job cost: $18,042 Job cost: $15,902
Value at sale: $12,166 Valye at Sale: $10,853
Cost Recouped: 67.4% Cost Recouped: 68.2%
ATTIC BEDROOM
In a house with two or three bedrooms, convert unfinished space in attic to a 15-by-15-foot bedroom and a 5-by-7-foot shower bath. Add a 15-foot shed dormer and four new windows. Insulate and finish ceiling and walls; carpet unfinished floor. Extend existing heating and central air conditioning to new space. Retain existing stairs.
National Average Mountain Area Average
Job cost: $46,691 Job cost: $43,868
Value at sale: $35,771 Value at Sale: $34,032
Cost Recouped: 76.6% Cost Recouped: 77.6%
BASEMENT REMODEL
Create a 20-by-30-foot entertaining area with wet bar, a 5-by-8-foot full bath, and a 12-by-12-foot auxiliary room. Exterior walls are insulated. Include five six-panel primed hardboard doors. Main room includes 15 recessed ceiling light fixtures, three surface-mounted light fixtures, and snap-together laminate flooring system. Bathroom includes standard white toilet, vanity with cultured marble top, resilient vinyl flooring, two-piece fiberglass shower unit, a light/fan combination, vanity light fixture, and recessed medicine cabinet. Bar area includes 10 linear feet of raised panel oak cabinets with laminate countertops, stainless steel bar sink, single-lever bar faucet, under-counter refrigerator, and vinyl floor tile.
National Average Mountain Area Average
Job cost: $59,435 Job cost: $56,297
Value at sale: $44,661 Value at sale: $47,167
Cost Recouped: 76.1% Cost Recouped: 83.8%
SUNROOM ADDITION
Add a 200-square-foot sunroom to a two-story house. Form and pour footings for slab-on-grade foundation. Use exposed post-and-beam framing on interior side and extruded aluminum window frame-and-flashing system with insulated, low-E, laminated, or tempered glazing. Provide for natural ventilation using screens and ceiling fan. Insulate all non-glass areas; provide movable shades for glass area.
National Average Mountain Area Average
Job cost: $69,817 Job cost: $68,272
Value at sale: $41,231 Value at sale: $37,240
Cost Recouped: 59.1% Cost Recouped: 54.5%
DECK ADDITION
Add 16-by-20-foot deck using pressure-treated SYP joists supported by 4-by-4 posts set into concrete footings. Install composite deck material in a simple linear pattern. Include a built-in bench, a planter of the same decking material, and stairs. Provide a railing system made of the same composite material as the decking or a compatible vinyl system.
National Average Mountain Area Average
Job cost: $10,347 Job cost: $10,717
Value at sale: $8,835 Value at sale: $9,244
Cost Recouped: 85.4% Cost Recouped: 86.3% |
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Denver Remodeling Resources
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Stuff to swoon over
Here are some good places to start:
Modern Bungalow, 2594 S. Colorado Blvd. in Denver, 303-300-3332,
www.modernbungalow.com. Their slogan? "The Best of the Arts & Crafts Movement
All Under One Roof," and if Arts & Crafts is your bag, then this could be your place. From
couches to lamps to rugs, they've got a bunch, most of it reproductions instead of antiques.
Architectural Salvage Inc., 5001 Colorado Blvd., Denver, 303-321-0200,
http://www.salvagelady.com . Foolish people tear down those bungalows. They rip out
their hand-tooled built-in book shelves and chuck the oak molding. At least some of the
fruits of their foolishness end up at Architectural Salvage, where you might find the 1905
hinge to match the one on your built-in buffet.
Queen City, 2207 Larimer St. Denver, 303-292-6012, www.architectural-artifacts.com.
They've got a showroom, they've got a barn (for sale), and they've got a salvage yard at
4750 Brighton Blvd. (Call to make an appointment at the salvage yard during the winter).
They've got things to swoon over.
ReSource Sales Yard
2665 63rd Street, Boulder, CO 80302
303-419-5418
http://www.resourceyard.org/
Products & Services:
Architectual Salvage Services:
A
Bud's Warehouse
4455 E 46th Ave
Denver, CO 80216
303-296-3990--Phone
303-296-3980--Fax
http://www.budswarehouse.org/
As a not-for-profit job-training program, Bud's Warehouse offers over 20,000 sq. ft. of
new and antique home improvement supplies - all donated by area contractors,
builders,suppliers, and homeowners and all at savings of up to 70% off retail.
Do-It-Ur-Self Plumbing & Heating Supply
3100 Brighton Blvd
Denver, CO 80216 - 5017
(303) 297-0455
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