Remodel or Sell?
Many homeowners find themselves asking the question should
we remodel or sell our home? Here's a handy chart that is published
by the Institute of Real Estate Appraisers that may help you
in analyzing the cost of remodeling. Keep in mind that the
costs seem very low, especially by Seattle standards.
| Project |
Estimated cost |
Percent recoverable |
Add a full bath:
To a 1 1/2 bath home
To a 2 bath home
|
$5,000-$10,000
|
80%
50% |
Add a half bath:
To a 1 1/2 bath home
|
$2,000-$3,000
|
60% |
Add a bedroom:
To 3 bedroom house
To 4 bedroom house
|
$6,000-$8,000+
(in existing space)
$10,000-$15,000+
(add-on space)
|
75-85%
65% |
| Add a garage |
$3,500-$6,000 |
Up to 50% |
| Add a fireplace |
$1,500-$3,000 |
Up to 75% |
| Turn basement into rec room |
$3,000-$6,500+ |
Up to 15% |
| Enclose a porch |
$5,000-$6,000 |
50%-60% |
Install central air:
Room units
|
$2,500-$4,500
$500-$1,000
|
Up to 75%
0 to 50% |
| Install new heating plant |
$1,200-$2,000 |
0 to 100% |
| Repaint frame house |
$1,000-$2,000 |
30% to 80% |
| Install new exterior siding |
$3,000-$8,000 |
Up to 75% |
| Landscape |
$500-$2,000 |
40% to 60% |
| Add a pool |
$10,000+ |
0 to 40% |
| Add a patio |
$2,000-$4,000 |
35% to 60% |
|
