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This article was published on: 12/01/2005

FEATURE: 2005 COST vs. VALUE REPORT

Remodeling's Payoff

Minor Kitchen Remodel
Project Description: In a functional but dated 200-square-foot kitchen with 30 linear feet of cabinetry and countertops, leave cabinet boxes in place but replace fronts with new raised-panel wood doors and drawers. Replace wall oven and cooktop with new energy-efficient models. Replace laminate countertops. Install midpriced sink and faucet. Repaint trim, add wall covering, and replace existing flooring with resilient flooring.

Untitled Document
Minor kitchen remodel
 

Job
Cost

Resale
Value
Cost
Recouped
National Average:
$14,913
$14,691
98.5%
East Average:
$15,172
$15,316
100.9%
Midwest Average:
$15,426
$13,151
85.3%
South Average:
$13,998
$13,498
96.4%
West Average:
$15,328
$17,209
112.3%



Midrange Major Kitchen Remodel
Project Description: Update an outmoded 200-square-foot kitchen with design and installation of a functional layout of 30 linear feet of semicustom-grade wood cabinets, including a 3-by-5-foot island, laminate countertops, and standard double-tub stainless-steel sink with standard single-lever faucet. Include energy-efficient wall oven, cooktop, ventilation system; built-in microwave, dishwasher, garbage disposal; and custom lighting. Add resilient flooring. Finish with painted walls, trim, and ceiling.

Untitled Document
Midrange
Major kitchen remodel
 

Job
Cost

Resale
Value
Cost
Recouped
National Average:
$43,862
$39,920
91.0%
East Average:
$44,659
$42,490
95.1%
Midwest Average:
$45,237
$36,691
81.1%
South Average:
$41,133
$36,329
88.3%
West Average:
$45,242
$45,353
100.2%


Upscale Major Kitchen Remodel
Project Description: Update outmoded 200-square-foot kitchen with 30 linear feet of top-of-the-line custom cherry cabinets with built-in sliding shelves and other interior accessories. Include stone countertops with imported ceramic or glass tile backsplash; built-in refrigerator, cooktop, and 36-inch commercial grade range and vent hood; and built-in warming drawer, trash compactor, and combination microwave and convection oven. Install high-end undermount sink with designer faucets and built-in water filtration system. Add general and task lighting, including low-voltage under-cabinet lights. Install cork flooring with cherry trim.

Untitled Document
upscale
Major kitchen remodel
 

Job
Cost

Resale
Value
Cost
Recouped
National Average:
$81,552
$69,194
84.8%
East Average:
$82,528
$70,718
85.7%
Midwest Average:
$83,333
$64,586
77.5%
South Average:
$77,786
$65,111
83.7%
West Average:
$83,720
$77,812
92.9%





Remodeling magazine, published by Hanley-Wood LLC, has been producing this report annually for 19 years. We’d like to thank the editors and designers of Remodeling, as well as the REALTORS® who contributed to bringing you this report.

Remodeling magazine’s “Cost vs. Value Report.” ©2005 by Hanley-Wood LLC. Republication of the report is expressly prohibited without written permission of Hanley-Wood LLC.

Order Reprints for Your Clients and Customers
Order reprints of the complete 2005 “Cost vs. Value Report”—all 18 projects—for just $6.50 each plus shipping and handling at www.realtorreprints.com. For information on bulk orders over 500, contact Kelly Dewan at kdewan@reprintbuyer.com or 717/399-1900, ext. 166.

Take the 2006 Survey
Participate in next year’s “Cost vs. Value” survey! Sign up here.

Thank you to those practitioners who took the 2005 survey
Those survey respondents who also provided their contact information are listed here. Your help on this project was invaluable.

* We received sufficient data for 58 out of 60 markets surveyed compared with only 53 last year. Because of insufficient data from Grand Rapids, Mich., and Providence, R.I., no resale value numbers for those markets are provided.


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Cost vs. Value Main Page

Kitchen Remodel

Attic Bedroom

Deck Addition

Basement Remodel

Bathroom Remodel

Bathroom Addition

Siding Replacement

Window Replacement

Roofing Replacement

Family Room Addition

Home Office Remodel

Master Suite Addition