Cost vs. Value Report: How much of a ROI are you getting on your remodel?

The 2013 Cost vs Value Report from Remodeling Magazine indicates an upturn in home remodeling. If you are considering a home remodel project, this year you will get an increased return on investment (ROI) compared to previous years as the economy continues to recover and construction costs continue to go down.

Replacement projects continue to offer the best return on investments with entry door, garage door, windows, and siding replacements all recouping more than 70 percent of the project cost.

Certain kinds of additions also provide a project ROI in excess of 70% including adding a wood deck, and converting an attic to a bedroom.

The always-popular minor kitchen remodel, which typically includes cabinet fronts and hardware, countertops, and appliances, is in the top ten projects for highest ROI and has a relatively modest cost averaging just over $18,000 nationally.

The least expensive ways to add living space to your home continue to be converting an attic to a bedroom or turning a basement into a bedroom. Both of these remodeling projects are in the top ten remodeling projects with the highest ROI. Adding a master suite is the most expensive way to add living space, and carries the lowest ROI at just over 50%.

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