Will property renovations pay off...
...We are covering 12 popular remodeling projects.

SELLER: "Should I make improvements before I sell?"
BUYER: "What will the project cost, and is it a good idea?"

On average nationally, based upon cost recouped in a resale within one year of project completion:

Minor kitchen remodel Bathroom addition Major kitchen remodel Family room addition Two-story addition Attic bedroom Master suite Bathroom remodel Siding replacement Deck addition Window replacement Home office

94% 89% 87% 84% 84% 83% 82% 73% 71% 70% 68% 64%

FOR THE MILWAUKEE AREA

Minor Kitchen Remodel
Project Description: In a functional but dated 200-square-foot kitchen with 30 lineal feet of cabinetry and countertops, refinish existing cabinets; install new energy-efficient wall oven and cooktop, laminate countertops, midpriced sink and faucet, wall covering, and resilient flooring; and repaint. Job includes new raised-panel wood doors on cabinets.
Job cost: $9,739     Resale Value: $7,898     Recoup: 81%

Bathroom Addition
Project Description: Add a second full bath to a house with one or 1 ½ baths. The 6 by 8 foot bath should be within the existing floor plan in an inconspicuous spot convenient to the bedrooms. Include cultured marble vanity top, molded sink, standard bathtub with shower, low-profile toilet, lighting, mirrored medicine cabinet, linen storage, vinyl wallpaper, ceramic tile floor, and ceramic tile walls in tub area.
Job cost: $12,964     Resale Value: $10,392     Recoup: 80%

Major Kitchen Remodel
Project description: Update an outmoded 200-square-foot kitchen with the design and installation of a functional layout of new cabinets, laminate countertops, midpriced sink and faucet, energy-efficient wall oven, cooktop, ventilation system, built-in microwave, dishwasher, garbage disposal unit, and custom lighting. Add new resilient floor. Finish with painted walls, trim, and ceiling. Include 30 lineal feet of semicustom-grade wood cabinets and counter space, including a 3-by-5-foot center island.
Job cost: $25,145     Resale Value: $22,532     Recoup: 90%

Family Room Addition
Project Description: In a style and location appropriate to the existing house, add a 16-by-25-foot room on new crawl space foundation with wood joist floor framing, wood siding on exterior walls, and fiberglass shingle roof. Include drywall interior with batt insulation, tongue-and-groove hardwood floor, and 180 square feet of glazing (including windows, atrium-style exterior doors, and two operable skylights). Tie into existing heating and cooling system.
Job cost: $33,928     Resale Value $25,459     Recoup: 75%

Two Story Addition
Project Description: Add a 24-by-16-foot two-story wing over a crawl space, with a first-floor family room and a second-floor bedroom with full bath. Include a prefabricated fireplace in the family room, 11 windows, and an atrium-style exterior door. Floors are carpeted, and walls are of painted drywall. The 5-by-8-foot bathroom has a fiberglass bath-shower, standard-grade toilet, wood vanity with ceramic tile sinktop, ceramic tile flooring, and mirrored medicine cabinet with light strip above. Bathroom is wallpapered. Add new heating and cooling system to handle the addition.
Job Cost: $63,104     Resale Value: $47,871     Recoup: 76%

Attic Bedroom
Project Description: In a house with two or three bedrooms, convert unfinished space in the attic to a 15-by-15-foot bedroom and a 5-by-7 foot bathroom with shower. Add a 15-foot shed dormer and four new windows. Insulate and finish ceiling and walls. Carpet unfinished floor. Extend existing heating and central air-conditioning to new space. Retain existing stairs.
Job Cost: $26,139     Resale Value; $21,083     Recoup; 81%

Master Suite
Project Description: In a house with two or three bedrooms, add a 24-by-16-foot master bedroom suite over a crawl space. Bedroom will include a walk-in closet. Master bath will have a dressing area, whirlpool tub, separate ceramic tile shower, and double-bowl vanity. Bedroom floor will be carpeted; floor in bath will be ceramic tile.
Job cost: $40,455     Resale Value; $32,322     Recoup: 80%

Bathroom Remodel
Project Description: Update an existing 5-by-9-foot bathroom that's at least 25 years old with a new standard-sized tub, toilet, and solid-surface vanity counter with integral double sink. Install new lighting, faucets, mirrored medicine cabinet, ceramic tile floor, and ceramic tile walls in the tub-shower area (vinyl wallpaper elsewhere).
Job cost; $9,767     Resale Value: $6,415     Recoup: 66%

Siding Replacement
Project Description: Replace 1,250 square feet of existing siding with new vinyl siding, including trim. Option: use painted wood siding and trim instead of vinyl.
Job cost; $5,398     Resale Value; $3,875     Recoup: 72%

Deck Addition
Project Description: Add a 16-by-20-foot deck of pressure-treated pine supported by 4-by-4-foot posts set into concrete footings. Include a built-in bench, railings, and planter, also of pressure-treated pine. Option; Same as above but built of cedar.
Job Cost; $6,585     Resale Value; $4,370     Recoup; 66%

Window Replacement
Project Description: Convert an existing 12-by-12-foot room to a home office, install custom cabinets to include desk area, computer workstation, overhead storage, and 20 feet of laminate desktop. Rewire room for computer, fax machine, and other electronic equipment, as well as cable and telephone lines. Include drywall interior and commercial-grade level-loop carpeting.
Job Cost; $46,541     Resale Value; $4,802     Recoup: 73%

Home Office
Project Description: Convert an existing 12-by-12-foot room to a home office. Install custom cabinets to include desk area, computer workstation, overhead storage, and 200 feet of laminate desktop. Rewire room for computer, fax machine, and other electronic equipment, as well as cable and telephone lines. Include drywall interior and commercial-grade level-loop carpeting.
Job Cost; $9,889     Resale Value; $6,674     Recoup; 67%

For the Complete report; REALTOR Magazine
November, 1998 issue pages 46-67

Coming Soon: Return vs. Investment for smaller, cosmetic repairs and redecorating.