New Hampshire real estate for sale

How much of the cost of a remodeling project can be recovered at resale?

Besides wanting to know how much a remodeling project will cost and when the work will begin and end, buyers and sellers have one core concern: how much the investment will add to the home's value.

REALTOR® Magazine has teamed up for the seventh straight year with Remodeling magazine on its "Cost vs. Value Report." This year's report specifies the costs of 15 popular home improvement projects and the estimated percentage return in various markets if the owners were to sell their home today.

Cost data for the report is from HomeTech Information Systems, a remodeling estimating software company in Bethesda, Md. HomeTech collects current cost information quarterly from several contractors nationwide. The figures include a typical remodeler's markup.

Resale values are based on the professional judgment of NATIONAL ASSOCIATION OF REALTORS® members. Surveys containing construction costs for each city, as well as information on median house prices, were sent via e-mail in late summer 2004 to a random sample of appraisers, sales associates, and brokers. More than 300 responded with dollar figures that represent the value each completed project would add to the selling price of the house under current market conditions. In addition to sending the surveys to its membership, NAR collected the value data and tabulated the results. Values below represent the average of all respondents in Manchester, New Hampshire. Pay special attention to the national averages, which factor in the opinions of a large number of practitioners.

Average Return on Investment

Manchester NH

The Projects

Job
Cost

Manchester NH

Resale
Value

Manchester NH

Average
Cost

Nationally

--

100%

Bathroom Remodeling

Update bathroom that is at least 25 years old. Replace all fixtures to include standard-sized tub with ceramic tile surround, toilet, solid surface vanity counter with integral double singk, recessed medicine cabinet, ceramic tile floor, vinyl wallpaper.

$9,679
$9,675
90.1%

84%

Deck Addition

Add 16' x 20' deck using pressure-treated SYP joists supported by 4 x 4 posts set into concrete footings. Install composite deck material in a simple linear pattern. Include a built-in bench, a planter of the same decking material, and stairs. Provide a railing system made of the same composite material as the decking or a compatible vinyl system.

$6,813
$5,724
88.1%

96.4%

Window Replacement

Replace ten (10) existing 3 x 5 foot double-hung windows with vinyl or aluminum clad, double glazed, wood replacement windows. Wrap existing exterior trim as required to match. Don't disturb existing interior trim.

$9,334
$9,000
84%

85.8%

Attic Bedroom

In a house with two or three bedrooms, convert unfinished space in the attic to a 15' x 15' foot bedroom and a 5' x 7' shower bath. Add a 15' shed dormer and four new windows. Insulate and finish ceilings and walls, carpet unfinished floor. Extend existing heating and central air conditioning to new space. Retain existing stairs.

$35,855
$30,750
82.9%

62.3%

Family Room Addition

Add a 16' x 25' room on a crawl space foundation with vinyl siding and fiberglass shingle roof. Include drywall interior with batt insulation, prefinished hardwood floors, and 180 sq feet of glazing, including windows, atrium-style exterior doors, and two operable skylights. Tie into existing heating and cooling systems.

$52,145
$32,500
81.2%

116.5%

Roofing Replacement

Remove existing roofing to bare wood and dispose of properly. Install 30 squares of fiberglass asphalt shingles with new felt underlayment, galvanized drip edge and mill-finish aluminum flashing.

$11,378
$13,250
80.8%

73.3%

Master Suite Addition

On a house with two or three bedrooms, add a 24' x 16' master bedrooms suite over a crawlspace. Include walk in closet/ dressing area, whirpool tub in ceramic tile platform, separate 3' x 4' ceramic tile shower, and double bowl vanity with solid surface countertop. Bedroom floor is carpet, bathroom floor is ceramic tile. Paint the ceilings, walls, and trim. Add general and spot lighting, along with an exhaust fan in the bathroom.

$65,127
$47,750
80.1%

73%

Major Kitchen Remodel

Upate an outmoded 200 square foot kitchen with new cabinets, laminate countertops, and standard double tub stainless steel sink with standard single lever faucet. Include energy efficient wall oven, cooktop, ventilation system, built in microwave, dishwasher, and garbage disposal. Add custom lighting and a new resilient floor. Finish with painted walls, trim and ceiling. Include 30 linear feet of semi custom grade wood cabinets, including a 3' x 5' island.

$39,742
$29,000
79.4%

67.4%

Basement Remodel

Create a 20' x 30' entertaining area with wet bar, a 5' x 8' full bath, and a 12' x 12' auxiliary room. Walls and ceilings are painted drywall throughout. Exterior walls are insulated. Include five six-panel primed hardwood doors. Main room includes 15 recessed ceiling light fixtures, three surface mounted light fixtures, and snap together laminate flooring system. Bathroom includes standard white toilet, vanity with cultured marble top, resilient vinyl flooring, two piece fiberglass shower unit, a light/ fan combination, vanity light fixture, and recessed medicine cabinet. Bar area includes 10 linear feet of raised panel oak cabinets with laminate countertops, stainless steel bar sink, single lever bar faucet, under counter refrigerator and vinyl floor tile.

$48,214
$32,500
75.6%

67.2%

Sunroom Addition

Add a 200 square foot sunroom to a two story house. Form and pour footings for slab on grade foundation. Use exposed post and beam framing on interior side and extruded aluminum window frame and flashing system with insulated, low-E, laminated, or tempered glazing. Provide for natural ventilation using screens and ceiling fan. Insulate all non-glass areas; provde moveable shades for glass area.

$30,512
$20,500
72.1%
Remodeling magazine's "Cost vs. Value Report" ©2004 by Hanley-Wood LLC.
View the most current 2005 Cost Vs. Remodeling Report

* National Association of REALTORS@ 2006 Survey



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