2013 Cost vs. Value Report Available
Remodeling Magazine has released its annual Cost vs. Value Report, which summarizes return on investment for various home renovation and remodeling projects. Resale value data for each project were aggregated from estimates provided by members of the National Association of REALTORS® (NAR) in cooperation with REALTOR® magazine. E-mail surveys containing project descriptions and three-dimensional illustrations, plus construction costs and median home prices for each city, were sent to some 150,000 appraisers, sales agents, and brokers. Respondents were instructed not to make judgments about the motivation of the homeowner in either the decision to undertake the remodeling project or to sell the house. The survey for this 2013 data was in the field for approximately 8 weeks in August and September of 2012. More than 3,900 survey respondents participated. The report includes data not just for the U.S., but also information specific to New England and Boston. Some of the projects with the highest return on investment for both New England and Boston were entry door replacement (steel) and minor kitchen remodels for midrange homes, and siding replacement (fiber-cement) and garage door replacement for upscale homes.