Greenbook: A Local Guide to Chesapeake Living - Issue 7 | Page 12

At the other end of the spectrum are projects with the
lowest returns on investment—improvements generally
not in demand by the market.
On a national scale, the four projects with the lowest
ROI in the “midrange” cost category are:

1B
 athroom Addition (56.2% ROI)
Average Cost: $42,233
Average Resale Value: $23,727

2 Master Suite Addition (64.1% ROI)
Average Cost: $115,810
Average Resale Value: $74,224

3 Deck Addition (Composite) (64.4% ROI)
Average Cost: $16,798
Average Resale Value: $10,819

4 Major Kitchen Remodel (64.9% ROI)
Average Cost: $59,999
Average Resale Value: $38,938

On a national scale, the four projects with the lowest
ROI in the “upscale” cost category are:

1 Bathroom Addition (56.7% ROI)
Average Cost: $79,380
Average Resale Value: $45,006

2 Master Suite Addition (57.2% ROI)
Average Cost: $245,474
Average Resale Value: $140,448

3 Bathroom Remodel (57.5% ROI)
Average Cost: $57,411
Average Resale Value: $32,998

4 Deck Addition (Composite) (57.7% ROI)
Average Cost: $37,943
Average Resale Value: $21,877

The 2016 Cost vs. Value Report compares, across 100
markets, the average cost of 30 popular remodeling
projects with their average value at resale one year
later. Average resale value is calculated based on
estimates provided by real estate professionals. View
the full report, including project descriptions and citylevel data, here.
This post was originally published on RISMedia's blog,
Housecall. Check the blog daily for winning real estate
tips and trends.
Reprinted with permission from RISMedia. ©2016. All rights reserved.

12

GREENBOOK | SPRING 2016