Move or Improve

If you are thinking of investing in a home remodeling project; consider whether it's worth it! According to the 2002 Cost vs. Value Study by Remodeling magazine*, you may not get as much “bang for your buck” as you thought!
 
Bathroom Addition - Mid Range
Add a full 6-by-8-foot bath to a house with one or one and a half baths. Locate within existing footprint near bedrooms. Include cultured-marble vanity top, molded sink, standard tub/shower with ceramic tile surround, low-profile toilet, general and spot lighting, mirrored medicine cabinet, linen storage, vinyl wallpaper, and ceramic tile floor.
Job Cost
Resale Value
Cost Recouped
National Average
$15,058
$14,180
94%
Washington metro
13,001
13,455
103
Washington, D.C.
14,039
23,333
166
Baltimore
13,100
7,199
55
 
Bathroom Addition - Upscale
Add a new 9-by-9-foot master bath to an existing master bedroom. The new bathroom includes a 4-by-4-foot neo-angle shower with ceramic tile walls, recessed shower caddy, body spray fixtures, and frameless enclosure as well as a personalized whirlpool tub; a solid-surface countertop with two integral sinks; two mirrored medicine cabinets lighted by individual sconces; a compartmentalized commode area with one-piece toilet; and a humidistat-controlled exhaust fixture. Other touches: heated floor and towel bars, custom drawer base, and wall cabinets.
Job Cost
Resale Value
Cost Recouped
National Average
$37,639
$30,626
81%
Washington metro
36,133
29,063
80
Washington, D.C.
37,687
46,667
124
Baltimore
35,953
17,190
48
 
Bathroom Remodel - Mid Range
Update an existing bathroom that is at least 25 years old. Replace all fixtures to include standard-sized tub with ceramic tile surround; toilet; solid-surface vanity counter with integral double sink; recessed medicine cabinet; ceramic tile floor; vinyl wallpaper.
Job Cost
Resale Value
Cost Recouped
National Average
$9,720
$8,506
88%
Washington metro
8,535
6,286
74
Washington, D.C.
8,976
8,667
97
Baltimore
8,752
$4,459
51
 
Bathroom Remodel - Upscale
Expand an existing 5-by-7-foot bathroom to 9-by-9 feet within existing house footprint. Double the number of windows and replace the tub with a custom dual 4-by-6-foot shower in a tile enclosure and glass block surround. The shower includes top-of-line fittings and full-body wash shower wall. Relocate the toilet into a partitioned area and replace it with one-piece color unit. Add a custom vanity cabinet with twin sinks set in granite tops and a linen/towel storage closet, general and spot lighting, a humidistat-controlled exhaust fan. Tile floor, papered walls, hardwood trim.
Job Cost
Resale Value
Cost Recouped
National Average
$22,639
$20,609
91%
Washington metro
20,756
18,608
90
Washington, D.C.
21,650
28,333
131
Baltimore
20,949
11,825
56
 
Two-Story Addition
Add a 24-by-16-foot two-story wing over a crawl space with a first-floor family room and a second-floor bedroom with full bath. Include 11 3-by-5-foot double-hung insulated windows; carpeted floors; painted drywall on walls and ceiling; and painted trim. In the family room, include a prefabricated gas fireplace and an atrium-style exterior door. In the 5-by-8-foot bathroom, include a one-piece fiberglass tub/shower unit; standard white toilet; wood vanity with ceramic tile countertop; resilient vinyl flooring; and mirrored medicine cabinet with built-in light strip; papered walls; and painted trim. Add new heating and cooling system to handle addition.
Job Cost
Resale Value
Cost Recouped
National Average
$69,857
$65,524
94%
Washington metro
61,403
69,007
112
Washington, D.C.
65,660
116,667
178
Baltimore
61,928
46,353
75
 
Basement Remodel
Finish the lower level of a house to create a 20-by-30-foot entertaining area with wet bar, a 5-by-8-foot full bath, and a 12-by-12-foot auxiliary room. Walls and ceilings are painted drywall throughout; exterior walls are insulated; painted trim throughout. Include five six-panel primed hardboard doors. Main room shall include 15 recessed ceiling light fixtures and three surface-mounted light fixtures and snap-together laminate flooring system. Bathroom includes standard white toilet, vanity with cultured marble top, resilient vinyl flooring, two-piece fiberglass shower unit, a light/fan combination, vanity light fixture, and recessed medicine cabinet. Bar area includes 10 linear feet of raised-panel oak cabinets with laminate countertops, stainless steel bar sink, single-lever bar faucet, undercounter refrigerator, and vinyl floor tile.
Job Cost
Resale Value
Cost Recouped
National Average
$43,112
$33,911
79%
Washington metro
37,743
30,606
81
Washington, D.C.
40,133
47,667
119
Baltimore
38,046
19,276
51
 
Family Room Addition
In a style and location appropriate to the existing house, add a 16-by-25-foot room on a crawl space foundation with wood siding and a fiberglass shingle roof. Include drywall interior with batt insulation, prefinished hardwood floor, and 180 square feet of glazing including windows, atrium-style exterior doors, and two operable skylights. Tie into existing heating and cooling.
Job Cost
Resale Value
Cost Recouped
National Average
$52,251
$41,514
79%
Washington metro
45,410
39,119
86
Washington, D.C.
47,884
65,000
136
Baltimore
45,194
29,856
66
 
Siding Replacement
Replace 1,250 square feet of existing siding with new vinyl siding, including all trim.
Job Cost
Resale Value
Cost Recouped
National Average
$7,146
$5,652
79%
Washington metro
5,967
4,816
81
Washington, D.C.
6,238
6,000
96
Baltimore
5,566
3,447
62
 
Master Suite Addition - Mid Range
On a house with two or three bedrooms, add a 24-by-16-foot master bedroom suite over a crawl space. Include walk-in closet/dressing area, whirlpool tub in ceramic tile platform, separate 3-by-4-foot ceramic tile shower, and double-bowl vanity with solid surface countertop. Bedroom floor is carpet; bath floor is ceramic tile. Painted walls, ceiling, and trim. General and spot lighting, exhaust fan.
Job Cost
Resale Value
Cost Recouped
National Average
$69,173
$51,979
75%
Washington metro
59,587
49,559
83
Washington, D.C.
64,467
80,000
124
Baltimore
60,471
39,427
65
 
Master Suite Addition - Upscale
Add a spacious sleeping area with lounging/sitting room adjacent to large master bath. Include custom bookcases, woodworking details, and built-in storage; high-end gas fireplace with stone hearth and custom mantle; and large walk-in closet/dressing area with natural light, mirrors, and linen storage. The sound-proofed suite, with in-floor heating, includes a hospitality center with sink, refrigerator, and custom cabinetry.
Job Cost
Resale Value
Cost Recouped
National Average
$131,471
$100,926
77%
Washington metro
121,677
104,829
86
Washington, D.C.
127,064
158,333
125
Baltimore
122,634
86,904
71
 
Window Replacement - Mid Range
Replace 10 existing 3-by-5-foot double-hung windows with vinyl-clad double-glazed replacement windows. Do not disturb existing interior or exterior trim.
Job Cost
Resale Value
Cost Recouped
National Average
$9,424
$6,951
74%
Washington metro
8,576
5,966
70
Washington, D.C.
9,018
8,000
89
Baltimore
8,638
4,773
55
 
Window Replacement - Upscale
Replace 10 existing 3-by-5-foot double-hung windows with double-glazed divided-light windows with an interior finish of alder or cherry and an exterior finish of copper or aluminum cladding.
Job Cost
Resale Value
Cost Recouped
National Average
$15,502
$11,941
77%
Washington metro
14,607
10,813
74
Washington, D.C.
15,109
14,667
97
Baltimore
14,638
9,273
63
 
Major Kitchen Remodel - Mid Range
Update an outmoded 200-square-foot kitchen with design and installation of a functional layout of new cabinets, laminate countertops, standard double-tub stainless-steel sink with standard single-lever faucet. Include energy efficient wall oven, cooktop, ventilation system, built-in microwave, dishwasher, garbage disposer, and custom lighting. Add new resilient floor. Finish with painted walls, trim, and ceiling. Include 30 linear feet of semi-custom grade wood cabinets, including a 3-by-5-foot island.
Job Cost
Resale Value
Cost Recouped
National Average
$43,213
$28,760
67%
Washington metro
40,415
26,692
66
Washington, D.C.
42,118
46,667
111
Baltimore
40,374
17,408
43
 
Major Kitchen Remodel - Upscale
Update an outmoded 200-square-foot kitchen with 30 linear feet of custom cherry cabinets, granite countertops, and imported ceramic tile backsplash. Include built-in refrigerator, cooktop, 36-inch commercial grade range and vent hood, built-in warming drawer, trash compactor, built-in combination microwave and convection oven, high-end undermount sink and designer faucets, built-in water filtration system. Add new general and task lighting including low-voltage under-cabinet lights. Install cork flooring, cherry trim.
Job Cost
Resale Value
Cost Recouped
National Average
$70,368
$56,137
80%
Washington metro
67,503
57,574
85
Washington, D.C.
69,139
93,333
135
Baltimore
67,569
44,640
66
 
Roof Replacement
Remove existing roofing to bare wood and dispose of properly. Install 30 squares of fiberglass asphalt shingles with new felt underlayment, galvanized drip edge, and mill-finish aluminum flashing.
Job Cost
Resale Value
Cost Recouped
National Average
$11,399
$7,644
67%
Washington metro
9,401
5,903
63
Washington, D.C.
10,560
7,667
73
Baltimore
9,168
6,167
67

* Cost Recouped is based on a sale one year after the improvement.
Source: REMODELING magazine's 2002 Cost vs. Value Study
Publication date: 2002-11-20
Copyright 2003 Hanley-Wood, LLC


Cheryl Hays
Long and Foster, Realtors®
4650 East West Highway
Bethesda, Maryland 20814
301-215-4729

Copyright © 2002 Cheryl Hays. All Rights Reserved