Remodel Cost vs Value – SF Bay Area: Top 5 for ROI
The costs, resale values and costs recouped are averages. I have added comments about our local market to add some perspective.
The photo is a 2011 small full bath, moderate remodel (from the studs) on a Coastside home – total cost $14,000.
- Siding Replacement (upscale) – fiber-cement – Since our homes are at the Coast, a home for sale advertised with “new siding” may lead a buyer to wonder why it was added. If you take a picture of the exterior before the new siding is installed, it could alleviate concerns that something is “hidden”. Discuss with your Realtor before spending the money.
Job Cost: $13,461
Resale Value: $10,493
Cost Recouped: 78%
- Entry Door Replacement – steel – it depends on the current door. I had a listing with a west-facing front door that was oak. It would have taken time and more money to re-stain it. Trust me, it needed to look a lot better. We decided to paint it and it looked like a new door. The hardware was fine. The painter did the door at no extra cost since he was already there painting the interior with a fresh coat.
Job Cost: $1,238
Resale Value: $903
Cost Recouped: 73%
- Attic Bedroom Addition – there are not many attic bedrooms on the Coastside.
Job Cost: $50,148
Resale Value: $36,346
Cost Recouped: 72.5%
- Kitchen: Minor Remodel – big benefit here. New energy-efficient appliances are well received. Not mentioned in the report, but think about the color scheme which could also bring in a higher price.
Job Cost: $19,588
Resale Value: $14,120
Cost Recouped: 72.1%
- Garage Door Replacement – on the coast garage doors take a bit of a beating due to weather. Also, having a quiet and well functioning garage door opener is a plus.
Job Cost: $1,512
Resale Value: $1,087
Cost Recouped: 71.9%
Talk to your Listing Agent before spending money on improvements to know what makes the most sense for you. The decision is always ultimately up to the seller.
Visit www.costvsvalue.com for information on all 35 projects. There, you can also download a free PDF providing information on average cost and resale value nationally, regionally, and in a specific market.
HERE: San Francisco Bay Area Cost vs. Value 2011-2012 Report
Source: Realtor.org from Remodeling Magazine. Remodeling’s 2011-12 Cost vs. Value Report ©2011 by Hanley Wood, LLC. Republication or redissemination of the Report is expressly prohibited without written permission of Hanley Wood, LLC. “Cost vs. Value” is a registered trademark of Hanley Wood, LLC. Visit www.costvsvalue.com for information on all 35 projects. Estimates for construction costs were compiled by HomeTech Publishing.