REMODELING Releases 2010- 2011 Cost vs. Value Report

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REMODELING has just released its 24th annual Cost vs. Value Report. The free 2010-2011 report covers 80 U.S. cities and is available for download at http://www.costvsvalue.com. The report contains data that compares construction costs for popular remodeling projects against the share of those costs recovered at resale. In addition to city data, the report includes tables with national and regional averages, as well as complete project descriptions, 3-D images and QuickTime movies for all 35 projects surveyed.

REMODELING has just released its 24th annual Cost vs. Value Report. The free 2010-2011 report covers 80 U.S. cities and is available for download at http://www.costvsvalue.com. The report contains data that compares construction costs for popular remodeling projects against the share of those costs recovered at resale. In addition to city data, the report includes tables with national and regional averages, as well as complete project descriptions, 3-D images and QuickTime movies for all 35 projects surveyed.

“We’re excited to include some new projects, as well as new interactive Web features in this year’s report,” said Sal Alfano, Editorial Director of REMODELING. “Recognizing that curb appeal continues to play a strong role in a home’s resale value, we added a Garage Door Replacement project to both the midrange and the upscale project lists.” Both projects rank high in their respective categories, for two main reasons: they are among the least expensive projects in the survey, and they improve curb appeal in a way that can affect a potential buyer’s first impression and, consequently, a home’s resale value.

3-D Google SketchUp renderings of these two new garage-door projects have also been added to this year’s Report. Like all of the other projects in the Cost vs. Value Report, you can click on the project name in the data tables, then “look around” just by moving the cursor inside the QuickTime movie player. You can also download the complete SketchUp model.

The comparison tool, which allows users to compare data with other cities, as well as to other years, now permits users to compare any two years from 2007 to 2010-11.

A preview of the national tables is included with this release. Any excerpts from these data tables must be attributed to Hanley Wood, LLC.

About REMODELING’s Cost vs. Value Report
Published for 24 years, REMODELING’s prestigious Cost vs. Value Report compares construction cost with resale value for popular home improvement projects in 80 U.S. markets. REMODELING magazine reaches 80,000 remodeling professionals who are the top influencers, specifers and purchasers of products and services in the $299 billion remodeling industry. Construction costs are provided by Hometech Information Systems (http://www.hometechonline.com), a remodeling estimating software company based in Bethesda, MD. Resale value data are aggregated from estimates provided by members of the National Association of Realtors (http://www.realtor.org) through an email survey broadcast by Realtor Magazine. Indianapolis-based Specpan, a market research company, hosts the web-based survey, collects and compiles the data, and provides pre-and post-survey consulting.

REMODELING’s 2010-11 Cost vs. Value Report - Preview

2010-11    
National Averages
Midrange Projects    Job Cost    Resale Value    Cost Recouped
Attic Bedroom Remodel     $ 51,428     $ 37,142    72.2%
Back-up Power Generator     $ 14,718      $    7,136     48.5%
Basement Remodel     $ 64,519      $ 45,186     70.0%
Bathroom Addition     $ 40,710     $ 21,695    53.3%
Bathroom Remodel     $ 16,634      $ 10,668     64.1%
Deck Addition (wood)     $ 10,973      $    7,986     72.8%
Deck Addition (composite)     $ 15,620     $ 10,337     66.2%
Entry Door Replacement (steel)     $    1,218     $    1,243     102.1%
Entry Door Replacement (fiberglass)     $    3,576     $    2,147     60.0%
Family Room Addition     $ 85,740      $ 53,624     62.5%
Garage Addition     $ 60,608     $ 35,876     59.2%
Garage Door Replacement     $ 1,291     $ 1,083    83.9%
Home Office Remodel     $ 28,888     $ 13,235     45.8%
Major Kitchen Remodel     $ 58,367      $ 40,126     68.7%
Master Suite Addition     $108,090     $ 68,146    63.0%
Minor Kitchen Remodel     $ 21,695      $ 15,790     72.8%
Roofing Replacement     $ 21,488     $ 12,790     59.5%
Siding Replacement (vinyl)     $ 11,357      $    8,223     72.4%
Sunroom Addition     $ 75,224      $ 36,540    48.6%
Two-Story Addition     $165,243     $107,338     65.0%
Window Replacement (vinyl)     $ 11,066      $    7,920     71.6%
Window Replacement (wood)     $ 12,027      $    8,707     72.4%
Upscale Projects    Job Cost    Resale Value    Cost Recouped
Bathroom Addition     $ 78,409     $ 41,562     53.0%
Bathroom Remodel     $ 53,759     $ 30,738     57.2%
Deck Addition (composite)     $ 38,382      $ 22,154     57.7%
Garage Addition     $ 90,053      $ 48,278    53.6%
Garage Door Replacement     $    3,545     $    2,476    69.8%
Grand Entrance (fiberglass)     $    7,700      $    4,979    64.7%
Major Kitchen Remodel     $113,464     $ 67,746     59.7%
Master Suite Addition     $232,062      $122,370     52.7%
Roofing Replacement     $ 38,022      $ 21,120     55.5%
Siding Replacement (fiber-cement)     $ 13,382      $ 10,707     80.0%
Siding Replacement (foam-backed vinyl)     $ 13,973      $ 10,119     72.4%
Window Replacement (vinyl)     $ 14,284      $ 10,368     72.6%
Window Replacement (wood)     $ 18,226     $ 12,303     67.5%

Copyright 2010 Hanley Wood LLC. Reprinted with permission. Complete data for the REMODELING 2010-11 Cost vs. Value Report is available online at http://www.costvsvalue.com.

About Hanley Wood
Hanley Wood, LLC, is the premier media and information company serving housing and construction. Through media event and marketing platforms, the company produces award-winning magazines and websites, marquee trade shows and events, rich data and custom marketing solutions. The company also is North America’s leading publisher of home plans. Hanley Wood Business Media (Washington, D.C.), publishes more than 30 award-winning residential and commercial construction titles, including METALMAG, EcoHome, BUILDER, REMODELING, CUSTOM HOME, ARCHITECT and residential architect. Hanley Wood Business Media also offers the construction industry’s foremost collection of websites, including Builder Online, Remodeling Online, and ebuild, the comprehensive online guide to building products, as well as the largest collection of house plans online through eplans.com and Dream Home Source.

Founded in 1976, Hanley Wood is one of the ten largest B-to-B media companies in the United States. Hanley Wood is owned by affiliates of JPMorgan Partners, which uses CCMP Capital Advisors to manage this investment.

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Sal Alfano
Hanley Wood, LLC
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