Are you ready to remodel your Northern VA home? Before you get started, you may want to look at how certain modifications offer a better resale value than others. At Foley Development Group, we believe a remodel should ultimately reflect your family’s current lifestyle and dreams. But it can be helpful to know what your return on investment might be should you decide to sell in the future. Keep in mind that some of the projects homeowners love most – family room, bathroom, and master suite additions – are the ones with the lowest percentage of cost recouped. And most other remodeling projects depreciate as the years go by.
Home Remodeling Estimates
For nearly 20 years, Remodeling Magazine has published cost vs. value estimates of the most popular home remodeling projects in various regions of the country. It’s a valuable resource that pulls from an enormous amount of data to create a report with a wealth of information for homeowners. The report is broken down into two categories:
- High Value projects that don’t necessarily turn over a project or even break even at resale, but tend to look the most attractive to buyers.
- Moderate Value projects which are often referred to as take-it-or-leave it remodels and tend to retain their value, or at least break even.
Here’s a closer look at what you can expect for different remodeling projects in your Northern VA neighborhood. The costs listed here are averages based on the data collected and your project may have elements that take it above or below the figures shown.
20×20 Backyard Patio that includes flagstone, installation of a lift-and-slide door, a gas-powered fire pit, pergola, stone veneer modular kitchen, and low-voltage lighting.
Job Cost: $52,677
Resale Value: $30,414
Cost Recouped: 57.7%
An upscale 16×20 custom composite deck addition with built in bench and planter will average $40,543 with a resale value of $22,495, and cost recoupment of 55.5%.
20×30 Basement Remodel that creates an entertainment area with wet bar, full bathroom, drywall and insulation installation, recessed lighting, laminate and vinyl flooring, and raised-panel oak cabinets.
Job Cost: $74,216
Resale Value: $51,263
Cost Recouped: 69.1%
6×8 Bathroom Addition with cultured marble vanity, ceramic tile floor, fiberglass tub/shower with ceramic tile surround, general and spot lighting, and linen storage closet.
Job Cost: $45,587
Resale Value: $25,890
Cost Recouped: 56.6%
An upscale 100sf master bathroom addition with ceramic tile walls, recessed shower caddy, frameless glass enclosure, custom cabinetry, in-floor heating, and freestanding soaker tub averages $84,681 with a resale value of $48,336, and cost recoupment of 57.1%.
5×7 Bathroom Remodel that replaces all fixtures, installs porcelain-on-steel tub with ceramic tile surround, recessed medicine cabinet, ceramic tile floor, and vinyl wallpaper.
Job Cost: $19,129
Resale Value: $11,486
Cost Recouped: 60.0%
The upscale version of a bathroom remodel averages $61,463 with a resale value of $36,940, and cost recoupment of 60.1%. It includes relocating all fixtures, installing a shower with ceramic tile walls, stone countertops, compartmentalized toilet area, heated ceramic tile flooring and custom cabinetry.
16×25 Family Room Addition that conforms to architectural integrity of the existing house and includes pre-finished hardwood flooring, new windows, atrium style exterior doors, recessed ceiling lights, and operable skylights.
Job Cost: $91,659
Resale Value: $62,732
Cost Recouped: 68.4%
200sf Major Kitchen Remodel with a 3×5 foot island, semi-custom cabinets, laminate countertops, energy efficient appliances, resilient flooring, and custom lighting.
Job Cost: $63,537
Resale Value: $37,194
Cost Recouped: 58.5%
The upscale version includes top-of-the-line custom cabinetry, stone countertops, imported tile backsplash, built-in refrigerator, commercial grade appliances, designer faucets and undercabinet lighting. Job cost is $124,385, resale value $70,783, and cost recoupment 56.9%.
24×16 Master Suite Addition including walk-in closet, carpeting, ceramic tile, freestanding soaker tub and separate ceramic tile shower, with general and spot lighting.
Job Cost: $125,221
Resale Value: $78,717
Cost Recouped: 62.9%
24×16 Two-Story Addition constructed in a style that complements the rest of the house and includes a family room, 2nd floor bedroom with full bath, additional HVAC system, gas fireplace, walk-in closet and dressing area, general and spot lighting.
Job Cost: $180,269
Resale Value: $145,160
Cost Recouped: 80.5%
Universal Design Bathroom that incorporates aging-in-place toilet, zero threshold tub/shower, storage area, tile floor, single vanity sink, wheel-chair accessible doorway, grab bars, towel hooks, and accessible switches and faucets.
Job Cost: $16,222
Resale Value: $9971
Cost Recouped: 61.5%
Remodeling for the Way You Live
The best remodel is one that perfectly reflects your family’s unique lifestyle. At Foley, we can help you design and build a living space that best accommodates your family’s needs. Schedule a conversation with us today to learn more.