The cost to remodel a home is frequently more than what people want to spend but when you consider the resale value that it can add to your home, you can see a different perspective. Although the cost of doing a remodel can be higher than the resale value, the satisfaction that comes from living the way you want to is why our customers continue to call us. Luckily California has the highest return on investment and is above the national average.
According to the Remodeling 2020 Cost vs. Value Report, available at www.costvsvalue.com, in Stockton CA the home improvement projects that actually add value to your home are manufactured stone veneer, fiber-cement siding replacement, and asphalt shingles roofing replacement. The manufactured stone veneer adds the most resale value with 122.3% cost recouped. The fiber-cement siding replacement comes in second with a 107.9% return. Asphalt shingles roofing replacement has a 104.9% return. I guess that's why roofers get such positive customer reviews on their asphalt shingle installations. It's because they nail it... HA! Roofing jokes get me every "shingle" time.
The most costly projects on this report don't have nearly as high of a cost recouped as you think they would. A 32 x 20 foot upscale master suite addition which includes a spacious sleeping area, a lounging sitting area, a master bath, fireplace, custom millwork and more costs a whopping $306,474 on average in the Stockton area but only has a 27.2% cost recoup. A 24 x 16 foot midrange master suite addition which includes a walk-in closet, a freestanding soaker tub and separate shower, and more costs $151,324 on average with a 39.9% cost recoup.
A 200 square foot upscale kitchen remodel which includes 30 linear feet of custom cabinets, stone countertops, a commercial grade cooktop, and more can cost $143,678 with a 54.8% cost recoup. If remodeling your kitchen is something you've been thinking about, you should take a look at the before and after of a kitchen we remodeled on the right. Remodeling kitchens comes natural to us, you could say we're counter intuitive...
Other than the exceptions listed above, the projects with the highest cost earned back in resale are a midrange minor kitchen remodel, on average costing $24,700, which had a cost recouped of about 91.1%. Next a garage door replacement, on average costing $3,745, had a cost recouped of about 93.5%. It's ex-siding to say that a vinyl siding replacement, costing about $15,628, can have a cost recouped of about 96%. A metal roofing replacement, costing on average $45,536, can get about 98.8% of its cost recouped.
Putting the numbers aside, a lot of times people will do a certain remodel or addition to their home simply because they want to. Resale value shouldn't be the only factor when deciding whether to remodel your home or not, if you want to remodel your home you should just do it despite what was discussed in this post. So why don't you go ahead and give us a call at 209-772-9200 or toll free at 800-498-1833 to start that remodel you've been thinking about.
© 2020 Hanley Wood Media Inc. Complete data from the Remodeling 2020 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.
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