Remodeling: Does it Pay Off?

REALTOR® Magazine's "2005 Cost vs. Value" report shows that remodeling can definitely pay off!

Here are their findings for Western US kitchen remodels:

Minor remodel with a functional but dated 200-square-foot kitchen with 30 linear feet of cabinetry and countertops. Leave cabinet boxes in place but replace fronts with new raised-panel wood doors and drawers. Replace wall oven and cooktop with new energy-efficient models. Replace laminate countertops and install midpriced sink and faucet. Repaint trim, add wall covering, and replace existing flooring with resilient flooring. Cost: $15,328 Resale Value: $17,209 Amount Recouped: 112.3%

Midrange Remodel including updating an outmoded 200-square-foot kitchen with design and installation of a functional layout of 30 linear feet of semi-custom wood cabinets, including a 3-by-5-foot island, laminate countertops, and standard double-tub stainless-steel sink with standard single-lever faucet. Includes energy-efficient wall oven, cooktop, ventilation system; built-in microwave, dishwasher, garbage disposal; and custom lighting. Add resilient flooring. Finish with painted walls, trim, and ceiling. Cost: $45,242 Resale Value: $45,353 Amount Recouped: 100.2%

Upscale Remodel including updating outmoded 200-square-foot kitchen with 30 linear feet of top-of-the-line custom cherry cabinets with built-in sliding shelves and other interior accessories. Include stone countertops with imported ceramic or glass tile backsplash; built-in refrigerator, cooktop, and 36-inch commercial grade range and vent hood; and built-in warming drawer, trash compactor, and combination microwave and convection oven. Install high-end undermount sink with designer faucets and built-in water filtration system. Add general and task lighting, including low-voltage under-cabinet lights. Install cork flooring with cherry trim. Cost: $83,720 Resale Value: $77,812 Amount Recouped: 92.9%

Of course this doesn't completely take into consideration the fact that some of the homes may not have sold for anything other than a discounted price if the kitchen remodels hadn't been done at all, but this should give some guidelines as to what to expect when remodeling a kitchen prior to selling a home.

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Linda Slocum
HoneyStartPacking.com
Santa Clarita Real Estate