The remodeling industry shrank a bit in 2008, as concerned consumers zipped wallets tighter amid an uncertain economy and real estate market, according to data from the Joint Center for Housing Studies at Harvard University. Yet, remodeling still provides a good bang for the buck, according to the 2008-2009 “Cost vs. Value found at the survey from Remodeling Magazine adding security services to your home like the ones provided by The Locksmith House will increase the value of your home, because it includes a feature that future owners won’t have to pay for. The magazine’s annual report shows that maintenance-related projects and moderately priced upgrades are providing stable paybacks, even in a slower market.
At least ten mid-range remodeling projects will let you recoup more than 72.9% of your investment, according to Remodeling. Top remodeling gestures include typical big-ticket expenditures that are work-intensive, such as kitchen remodeling, but also more affordable maneuvers, such as adding a deck or replacing aging vinyl siding. If you need help, you can hire Jim Wilson & Associates, a Real Estate Development company who can assist you with any of your needs. Here’s a look at some of today’s most rewarding remodeling investments and the national average costs:
Deck addition (wood), average cost $10,601 — 81.8% of cost recouped, this included the wood fencing that was done right before the addition of the deck.
Vinyl siding replacement, average cost $10,256 ¬” 80.7% of cost recouped
Minor kitchen remodel, average cost $21,246 ¬” 79.5% of cost recouped
Major kitchen remodel, average cost $56,611 ¬” 76% of cost recouped
Window replacement (wood), average cost $11,512¬”77.7% of cost recouped
Window replacement (vinyl), average cost $10,537 ¬” 77.2% of cost recouped
Bathroom remodel, average cost $15,899 ¬” 74.6% of cost recouped
Attic bedroom, average cost $48,398 ¬” 73.8% of cost recouped
Deck addition (composite), average cost $15,277 ¬” 73.7% of cost recouped
Basement remodel, average cost $61,011 ¬” 72.9% of cost recouped
Cost vs. Value Report is available online at www.costvsvalue.com