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Dallas, Richardson, Garland, Plano and Sachse luxury homes for sale in Texas, real estate listings, new construction & relocation information.
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Greg Foster
Real Estate Services
469.358.8569
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The Michael Group
9669 N. Central Expressway, Ste 290
Dallas, Texas 75231
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Information on
Dallas, Richardson,
Garland, Plano and Sachse
Texas real estate.
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Improvements
Cost Vs. Value
These figures are published annually in conjunction with Remodeling Magazine for each large market of the
country. It shows the average cost for several projects and the average recouped investment at re-sale.
CAUTION. These figures entail many variables, principally size and location. For instance, if you live in a
home that is appropriately valued for neighborhood, size and amenities at $120,000 and you add a living room,
you will not expect to recoup anymore than what the market values for that property and location will allow. In
this case, maybe $10,000-$15,000. (2005 figures)
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Cost |
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Recovered Value |
| Bathroom remodel |
90.5% |
$9,129 |
/ |
$8,258 |
| Minor Kitchen remodel |
83.1% |
$13,967 |
/ |
$11,607 |
| Siding Replacement |
64.5% |
$6,525 |
/ |
$4,208 |
| Attic Bedroom |
86.6% |
$34,246 |
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$29,645 |
| Deck Addition |
69.8% |
$10,628 |
/ |
$7,413 |
| Window Replacement |
68.7% |
$8,990 |
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$6,176 |
| Roofing Replacement |
65.3% |
$8,003 |
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$5,228 |
| Family Room Addition |
73.8% |
$48,822 |
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$35,591 |
| Home Office Remodel |
65% |
$11,338 |
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$7,370 |
Before taking on a remodel project check the market values for your property and be sure to keep your costs
reasonably within that range. Most remodel projects are best done well before you plan to sell because the enjoyment
you receive should be the primary return on investment you’re after.
An additional note on garage conversions for rehab investors; don’t do it. Many folks feel a garage conversion
will increase price since it increases livable sq. footage. Just the opposite usually happens because less people
will want a home w/o a garage. The house won’t get as many lookers and far fewer offers. I’ve sold houses
that have sat for over a year with another realtor and when I get involved the homeowner re-converts to a garage
and it sells normally.
Related Topic
Financial Health
Download complete Home Value Report
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