Returns on Your Remodeling Dollars

December 6th, 2005

Wondering where to put those remodeling dollars and get the best return on your investment? In conjunction with Remodeling magazine, the National Association of Realtors has again released the results of their 58-market national survey 2005 Cost vs. Value Report, looking at the resale value of various remodeling projects.

This annual survey uses estimates from real estate brokers, contractors, and appraisers to determine the value of what various home projects will pay back at resale.

In alignment with national trends, Portland’s best returns were found in bathroom and kitchen remodels. Window replacements and basement/attic remodels were a little higher than national numbers, while the balance of other remodels were below national averages.

Portland’s results, ranked by percent return on investment:

There are a lot of caveats* and assumptions surrounding a survey of this nature, but it perhaps helps provide some insight on general trends toward resale values.

For a summary copy of the 2005 Cost vs. Value report, contact me.

* The survey confidence levels include a 95% (+/- 5%) for the West region and total 99% (+/- 4%) confidence for national results. Each remodel project included some basic specifications and assumed parameters. Construction costs included labor, materials, and contractor overhead and profit. Surveys were returned from over 1,600 appraisers and real estate brokers.

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Related posts:

1. Best Remodel Bang for the Buck
2. Remodel Blogs: Modern-day Support Groups
3. Early Returns - July 2008 Portland Real Estate Results

Entry Filed under: Remodeling, Selling Advice