The Cost vs. Value Report for 2013 has been out reporting the top improvement projects that get the most 'bang for your buck' when remodeling. Some of these examples I absolutely do not agree with but I just report the real estate news around here! If you were planning on staying in your property for several years or had purchased a foreclosure that needed to be updated some of these costs would not be recouped in a short amount of time. This is based on our current market standards where the market is improving but there have really been no significant price increases.
1. Entry door replacement (steel)
Estimated job cost: $1,257 - Return on investment = ROI at resale: 82.3%
2. Window replacement (wood)
Job cost: $12,424 - ROI: 76.8%
3. Window replacement (vinyl)
Job cost: $11,299 - ROI: 74.6%
4. Attic bedroom
Job cost: $58,216 - ROI: 73%
5. Minor kitchen remodel
Job cost: $21,894 - ROI: 72.8%
6. Siding replacement (vinyl)
Job cost: $13,763 - ROI: 71.8%
7. Garage door replacement
Job cost: $1,740 - ROI: 68.5%
8. Major kitchen remodel
Job cost: $62,785 - ROI: 67.5%
9. Deck addition (wood)
Job cost: $11,432 - ROI: 67%
10. Basement remodel
Job cost: $76,172 - ROI: 60.9%
2013 Cost vs Value Report for Chicago Area
