Home Projects That Are Worth Remodeling

Remodeling, Addition & Replacement Costs & Percentage Recouped Upon Sale

The 22nd annual, Remodeling- Cost vs. Value report has been released for 2009/2010. The report consist of the relationship between remodeling costs and resale value by comparing national and regional averages for 33 popular remodeling projects.

This is what Hanley Wood, LLC had to say about the San Francisco averages.

Remodeling Costs for San Francisco Real Estate Jobs

The 2007 Cost vs. Value Report establishes cost-to-construct benchmarks for a set of common remodeling projects, then estimates how much of that investment will be recouped at resale in the current market.  It's a must read for those needing more space, like many of my clients with growing families, but are weighing the risk/reward for selling and upgrading in this kind of market.

San Francisco Job Costs:

"What the Numbers Mean

When comparing cost estimates for actual projects, remember that averaging tends to have a leveling effect on "Job Cost" data from the 2007 Cost vs. Value Report. And as always, seemingly small differences in size, scope, or quality of finishes can dramatically affect final project cost.

It's also important to consider whether a remodeled space reduces the perceived number of rooms or available square footage. For example, carving a half-bath out of unused storage space under a stair case is an obvious gain in usable space. But converting an existing bedroom into a master bath, while a positive development in many respects, may reduce the total number of bedrooms below the minimum expectation of typical prospective buyers."

The full article can be found here on the Handley Wood Remodeling website, and is quite the interesting read. (The 2008/09 numbers are due out soon).