REALTOR® magazine and Remodeling magazine have collaborated to publish a new report on the resale value of common remodeling projects in 60 housing markets across the U.S. The 2006 Cost vs. Value Report includes construction costs, resale values, and the percentage return for more than two dozen home remodeling projects, including kitchen and bath renovations; basement finishing and home office conversions; family room and sunroom additions; and window, siding and roof replacements.
In general, the report shows that prices for most remodeling projects have continued to increased during the past year, while resale values have decreased – a trend that reflects the return to a more normal housing market over the past 12 months. Once again, kitchen and bathroom remodels remain near the top of projects generating the highest return on one’s investment. For a look at New England and Boston area cost vs. value calculations for the most popular remodeling projects, based on 2006 data, visit the Housing & Research Data section of marealtor.com.