Hanley Wood Releases REMODELING Magazines 2015 Annual Cost vs. Value Report

Washington, D.C. (PRWEB) January 12, 2015

REMODELING Magazine announced today the release of its 28th annual Cost vs. Value Report comparing construction costs with resale value for 36 of the most popular home improvement projects in 102 U.S. markets. The entire report, including interactive infographics, is available at http://www.costvsvalue.com and at http://www.remodelingmag.com.

The 2015 report, which compares changes in home improvement project costs with members of National Association of Realtors perceptions of what those projects contribute to a homes price at resale, reflects the mixed messages that were delivered by the housing market throughout 2014.

While the cost of doing projects rose across the board last year by an average of 4.22%, the modest gains in price and tepid increases in the volume of home sales left Realtors concluding that only about half the 36 projects would benefit a homes value at resale. As a result, this years report saw cost-value ratios rise for only five projects. The midrange roofing replacement led the way, rising 5.9%. The other four gainers were the midrange garage door replacement, up 5.6%; the 20-gauge steel replacement entry door, up 5.4%; vinyl siding replacement, up 3.2%; and the sole upscale project: a fiberglass replacement entry door, rising 1.7%. Another 30 projects declined and there was one new project.

Our Cost vs. Value Reports in recent years indicated big-ticket projects such as attic bedrooms and basement remodels were enjoying ever-bigger payoffs, said Craig Webb, Editor-in-Chief, REMODELING and ProSales. For 2015, however, the simpler and lower-cost the project, the bigger its cost-value ratio three of the four projects that cost less than $5,000 are ranked in the top five for cost recouped, and the other two are in the $5,000 - $25,000 price range.

In 2015, the top recouping projects are:

Under $5,000: Steel Entry Door Replacement (101.8%); Mid-range Garage Door Replacement (88.4%); Upscale Garage Door Replacement (82.5%); Steel Entry Door Replacement (72.0%)

$5,000 - $25,000: Manufactured Stone Veneer (92.2%); Fiber-cement Siding Replacement (84.3%); Vinyl Siding Replacement (80.7%)

$25,000 - $100,000: Attic Bedroom (77.2%); Basement Remodel (72.8%); Major Kitchen Remodel (67.8%); Garage Addition (64.8%)

$100,000 +: Two-Story Addition (64.1%); Master Suite Addition (61.7%); Major Kitchen Remodel (59.0%) Master Suite Addition (53.7%)

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Hanley Wood Releases REMODELING Magazines 2015 Annual Cost vs. Value Report