Connecticut Real Estate News: Home Improvements with the Best Returns

remodeling cost vs value

Remodeling Magazine just released its “2013 Costs vs Value Report,” which talks about how much common remodeling projects costs and what they’re worth in the Hartford, Connecticut market. Some of its findings may surprise you, although keep in mind that these figures represent the middle range. Your actual prices will vary. These prices in my opinion are very high.

We would figure about half of the job cost for our median homes in Connecticut in the 200,000-400,000 price point.

New England — Midrange

2013 National Averages
Job Cost Resale Value Cost Recouped Project Job Cost Resale Value Cost Recouped Change vs. 2011-12
$49,719 $32,278 64.9% Attic Bedroom $47,919 $34,916 72.9% Change
$11,659 $5,547 47.6% Backup Power Generator $11,410 $6,014 52.7% Change
$63,919 $33,877 53.0% Basement Remodel $61,303 $43,095 70.3% Change
$38,781 $18,255 47.1% Bathroom Addition $37,501 $20,569 54.8% Change
$16,451 $9,697 58.9% Bathroom Remodel $15,782 $10,295 65.2% Change
$15,346 $9,634 62.8% Deck Addition (composite) $15,084 $10,184 67.5% Change
$9,825 $6,659 67.8% Deck Addition (wood) $9,327 $7,213 77.3% Change
$2,777 $1,808 65.1% Entry Door Replacement (fiberglass) $2,753 $1,813 65.9% Change
$1,153 $986 85.6% Entry Door Replacement (steel) $1,137 $974 85.6% Change
$82,569 $48,488 58.7% Family Room Addition $79,006 $50,013 63.3% Change
$50,385 $29,577 58.7% Garage Addition $48,806 $31,091 63.7% Change
$1,532 $1,153 75.3% Garage Door Replacement $1,496 $1,132 75.7% Change
$28,170 $11,113 39.4% Home Office Remodel $27,292 $11,911 43.6% Change
$55,522 $35,417 63.8% Major Kitchen Remodel $53,931 $37,139 68.9% Change
$106,278 $62,859 59.1% Master Suite Addition $101,873 $64,390 63.2% Change
$19,066 $14,430 75.7% Minor Kitchen Remodel $18,527 $13,977 75.4% Change
$19,850 $12,256 61.7% Roofing Replacement $18,488 $11,633 62.9% Change
$11,447 $8,579 74.9% Siding Replacement (vinyl) $11,192 $8,154 72.9% Change
$74,244 $32,521 43.8% Sunroom Addition $72,179 $33,529 46.5% Change
$156,044 $98,468 63.1% Two-Story Addition $152,470 $99,674 65.4% Change
$9,982 $7,208 72.2% Window Replacement (vinyl) $9,770 $6,961 71.2% Change
$10,962 $7,873 71.8% Window Replacement (wood) $10,708 $7,852 73.3% Change

New England — Upscale

2013 National Averages
Job Cost Resale Value Cost Recouped Project Job Cost Resale Value Cost Recouped Change vs. 2011-12
$72,860 $37,832 51.9% Bathroom Addition $70,969 $39,730 56.0% Change
$50,970 $27,646 54.2% Bathroom Remodel $50,007 $29,162 58.3% Change
$35,330 $19,217 54.4% Deck Addition (composite) $34,403 $20,532 59.7% Change
$82,452 $39,705 48.2% Garage Addition $80,511 $44,034 54.7% Change
$2,767 $2,119 76.6% Garage Door Replacement $2,720 $2,046 75.2% Change
$7,156 $4,418 61.7% Grand Entrance (fiberglass) $7,088 $4,528 63.9% Change
$109,524 $63,611 58.1% Major Kitchen Remodel $107,406 $64,113 59.7% Change
$225,527 $108,605 48.2% Master Suite Addition $220,086 $114,569 52.1% Change
$37,553 $20,065 53.4% Roofing Replacement $33,880 $19,194 56.7% Change
$13,329 $10,343 77.6% Siding Replacement (fiber-cement) $13,083 $10,379 79.3% Change
$14,140 $10,159 71.8% Siding Replacement (foam-backed vinyl) $13,818 $9,926 71.8% Change
$13,240 $9,322 70.4% Window Replacement (vinyl) $13,055 $9,295 71.2% Change
$16,597 $11,137 67.1% Window Replacement (wood) $16,361 $11,194 68.4% Change

If your curious about turning homes for a profit or getting the most bang for your buck with upgrades before selling contact Michelle Manter Giglietti.

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Michelle Manter Giglietti

Owner~Realtor at Manter Realty Group of Keller Williams
Top Producing Realtor and recognized blogger. In her free time you can hear her screaming fore at the local golf course,or catch her at home enjoying fresh cooking and a glass of wine with her husband and favorite 6 pound Morkie named Pedro.
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