The yearly Cost vs. Value report is now out, showing the cost recouped for various remodel projects throughout the nation.
Here’s the page with the Seattle Cost vs. Value data, or you can link to the national Cost vs. Value page here.
Projects with some of the greatest returns included siding replacement, adding a wood deck, replacing windows, and minor kitchen and bathroom remodels.
However, please take note! Regarding any of the projects in the report, PLEASE check with me before investing a significant sum of money. For example, replacing siding with new vinyl siding is listed as a high-recouping mid-range project, but from experience I know that in the Seattle area many home buyers are not wild about vinyl, much preferring wood or wood-like cement composites like Hardiplank.
Taking a look at the trends, the average percent of cost recouped for all projects peaked at 86.7% in 2005, dropped to 70.0% by 2007 and then declined just slightly more in 2008, to 67.3%. And there’s good news for Seattle area homeowners – in the Pacific region the average cost recouped through remodeling is 14.8% higher than the rest of the country.
It’s interesting to check out the graph showing that last statistic, it’s the second graph on this 2008 Cost vs. Value Trends page.
