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Cost vs. Value Report 2019 | Elite Remodeling

Cost vs. Value Report 2019 | Elite Remodeling

Cost vs. Value Report 2019 | Elite Remodeling

Home Improvement / Remodeling Projects with The Highest Return on Investment for Your Home in 2019

Remodeling Magazine’s 32nd annual Cost vs. Value Report compares the cost of popular residential renovation and addition projects to how much the homeowner will realize in the value of their home from the investment of the remodel. 

The Return on Investment (ROI) for upgrades and additions to your home, help dull every homeowner’s #1 pain point, cost.  For all the projects listed, the overall cost-to-value ratio is 71.4% for North Texas homeowners.  Nationwide the average dips down to 68.6%.

Despite the increase in the cost of building materials last summer across the country, hitting the entire remodeling and building industry, the overall ROI for the homeowners only slightly dipped from 2017; only 3.2% on average for North Texas residents.

Curb appeal projects continue to provide the highest return to homeowners.  7 of the top 10 high-return projects are exterior placement, high curb appeal projects with manufactured stone-veneer being the highest at 112.4%. 

The reason for higher returns on the exterior, curb appeal projects, is generated from the calculations set by the real estate community.  “Curb appeal” and “first impressions” are fundamental to a real estate professional’s evaluation of resale value.

Here are a couple of highlights from the report:


McKinney Upscale Bathroom Remodel | Elite Remodeling - elitehomeremodeling.comBathroom Additions

An upscale bathroom remodel will provide North Texas homeowners nearly 64% ROI. An upscale bathroom addition will add 100-square-foot and include 42×42-inch neo-angle shower with ceramic tile walls, accent strip, recessed shower caddy, body-spray fixtures, and frameless glass enclosure. Install freestanding soaker tub with high-end faucets; stone countertop with two sinks; two mirrored medicine cabinets with lighting; a compartmentalized commode area with one-piece toilet; and a humidistat-controlled exhaust fan. Utilizing more substantial matching ceramic tiles on the floor, laid on diagonal with ceramic tile base molding. Addition of general and spotlighting and waterproof shower fixture. Cabinetry has a custom drawer base, wall cabinets. Extend HVAC. Electric in-floor heating.

  • Bathroom Additions | Midrange (61.7% ROI)
    • Average Cost:  $44,585
    • Average Resale Value: $27,500

 

  • Bathroom Additions | Upscale (63.7% ROI)
    • Average Cost:  $83,287
    • Average Resale Value: $53,095

 


Frisco Upscale Bathroom Remodel | Elite Remodeling - elitehomeremodeling.comBathroom Remodel

An upscale bathroom remodel provides homeowners in Plano and McKinney with over 67% ROI.  Upgrades consistent with this type of project include the expansion of square footage, relocation of fixtures, new ceramic tile shower with luxury spray fixtures, installing a new soaker tub with high-end faucets.  Installation of a stone countertop with his and her sinks, compartmentalized commode area with one-piece toilet.  Addition of humidistat-controlled exhaust fan and larger upscale ceramic tiles on the floor diagonal with new base molding.  Custom cabinetry, in-floor heating, general & spot lighting. 

  • Bathroom Remodel | Midrange (68.5% ROI)
    • Average Cost:  $19,408
    • Average Resale Value: $13,295

 

  • Bathroom Remodel | Upscale (67.2% ROI)
    • Average Cost:  $62,074
    • Average Resale Value: $41,690

 

 

 

Frisco Designer Chef's Kitchen Remodel | Elite Remodeling - elitehomeremodeling.comKitchen Remodel

Major upscale kitchen remodels in Frisco and Allen areas will appreciate a 57.4% return on their investment.  Some of the features to this type of renovation project would include 30 linear feet of top-of-the-line custom white cabinets with built-in sliding shelves and other interior accessories.  Include stone countertops with imported ceramic or glass tile backsplash; built-in refrigerator, commercial-grade cooktop and vent hood, wall oven, and built-in microwave unit. Installation of a high-end under-mount sink with designer faucets and water filtration system. Add new general and task lighting, including undercabinet mood lighting. Installation of new upscale flooring. 

  • Minor Kitchen Remodel | Midrange (78.7% ROI)
    • Average Cost:  $21,714
    • Average Resale Value: $17,092

 

  • Major Kitchen Remodel | Midrange (57.0% ROI)
    • Average Cost:  $64,069
    • Average Resale Value: $36,506

 

  • Major Kitchen Remodel | Upscale (57.4% ROI)
    • Average Cost:  $127,684
    • Average Resale Value: $73,340

 

Frisco Upscale Master Bedroom Remodel | Elite Remodeling - elitehomeremodeling.comMaster Suite Additions

An upscale master suite addition will generate the homeowners in the Dallas area a refreshing 52.4% return on investment.  Add a spacious 32×20 foot master bedroom with lounging/sitting area adjacent to a large master bath.    Enjoy custom bookcases and built-in storage with custom millwork, a high-end gas fireplace with stone hearth and custom mantle.  Installation of your custom hospitality center with custom cabinetry, bar sink, under-counter refrigerator, stone countertop, and microwave.  Prepare for your day in style with a new walk-in closet/dressing area with natural light, mirrors, and linen storage.  New walk-in shower with the dual-shower system, stone walls, and floor, custom frameless glass enclosure.  Addition of a freestanding soaker tub, his and hers sinks with custom vanities and stone countertops.  Soundproofing, in-floor heating, custom wall finishes, and hardware included.

  • Master Suite Addition | Midrange (55.8% ROI)
    • Average Cost:  $122,867
    • Average Resale Value: $68,541

 

  • Master Suite Addition | Upscale (52.4% ROI)
    • Average Cost:  $255,595
    • Average Resale Value: $133,944

 

Frisco Upscale Patio Additions | Elite Remodeling - elitehomeremodeling.comBackyard Entertainment Patio

With nearly a 60% return on investment for your new backyard patio, you will enjoy your custom outdoor entertainment and kitchen space even more.  Installation of 20×20 flagstone patio connected to your home with new upscale lift-and-slide glass doors.  Enjoy a gas-powered fire pit in the center of the patio and surround it with four premium, all-weather deck chairs. Install stone-veneer modular kitchen unit with gas grill, mini-refrigerator, sink, and storage. Boast a 20×20-foot cedar pergola capable of holding an awning that can shade the flagstone area.  Install premium low voltage lights on pergola enough to illuminate patio at night. Install underground gas and electrical connections

  • Backyard Patio (59.7% ROI)
    • Average Cost:  $55,132
    • Average Resale Value: $32,905

 

 


Elite Remodeling Cost vs Value 2019 Values RisingThis year’s report surveyed more than 3,200 real estate professionals about the returns for 22 residential remodeling projects in 136 different U.S. housing markets—up from 100 markets last year. 

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View the full report, including project descriptions and city-level data, here.

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