Realtor Magazine just published its "2005 Cost vs. Value Report: Remodeling's Payoff", and it reveals some interesting statistics. The magazine gathered remodeling data from a report originated by HomeTech Information Systems, a remodeling estimating software company. HomeTech's report was published in conjunction with Remodeling magazine, and then picked up by Realtor Magazine.
Personally, I am a little skeptical of the data given the small number of email survey respondents (just over 1,600 responded to survey requests out of 20,000 requests) & the complexity of the issue. Regardless, I have included some of the data below, and I believe the results supply some direction when making investment-based decisions on home remodeling projects.
Ten of the eighteen remodeling projects included in the report were published in the magazine. The ten projects & their corresponding percentage returns nationally (N) & for Louisville, KY (L) are as follows:
Bathroom remodel: 102.2% (N) 90.3% (L)
Minor kitchen remodel: 98.5% (N) 80.7% (L)
Siding replacement: 95.5% (N) 78.5% (L)
Attic bedroom: 93.5% (N) 78.2% (L)
Deck addition: 90.3% (N) 71.5% (L)
Basement remodel: 90.1% (N) 74.4% (L)
Window replacement: 89.6% (N) 70.0% (L)
Roofing replacement: 84.7% (N) 54.2% (L)
Family room addition: 83.0% (N) 68.1% (L)
Home office remodel: 72.8% (N) 50.6% (L)
*Realtor Magazine states national & South Region (Louisville's region) percentage returns have a margin of +/-4%.
You can read more of the article here .
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