
Unsurprisingly, the report shows an increase in cost for all 22 projects listed; however, there is also a consistent dip across the board in terms of what the perceived value of each of these projects is. This is likely due to a market that was anything but smooth in 2019.
"Why the difference? The most likely answer is consumer jitters," says Clay DeKorne, chief editor of the JLC Group, which includes Remodeling magazine. "While remodeling professionals need to stay on point, they can breathe easy. Remodeling activity is growing at a slower rate than in years past, but it continues to grow."
Nationally, here are the 10 projects with the greatest ROI, according to the 2020 Cost vs. Value Report:
Manufactured Stone Veneer (95.6% ROI)
- Average Cost: $9,357
- Average Resale Value: $8,943
- Average Cost: $3,695
- Average Resale Value: $3,491
- Average Cost: $23,452
- Average Resale Value: $18,206
- Average Cost: $17,008
- Average Resale Value: $13,195
- Average Cost: $14,359
- Average Resale Value: $10,731
- Average Cost: $17,641
- Average Resale Value: $12,761
- Average Cost: $14,360
- Average Resale Value: $10,355
- Average Cost: $21,495
- Average Resale Value: $14,804
- Average Cost: $1,881
- Average Resale Value: $1,294
- Average Cost: $19,856
- Average Resale Value: $13,257
Master Suite Addition (Upscale) (51.6% ROI)
- Average Cost: $282,062
- Average Resale Value: $145,486
- Average Cost: $9,254
- Average Resale Value: $4,930
- Average Cost: $135,547
- Average Resale Value: $72,993
- Average Cost: $49,598
- Average Resale Value: $26,807
- Average Cost: $91,287
- Average Resale Value: $49,961
- Average Cost: $67,106
- Average Resale Value: $37,995
- Average Cost: $136,739
- Average Resale Value: $80,029
- Average Cost: $68,490
- Average Resale Value: $40,127
- Average Cost: $40,318
- Average Resale Value: $24,682
- Average Cost: $34,643
- Average Resale Value: $21,463
Please consider The Myers Team your resource for all things real estate. We have over 30 years of real estate experience, specializing in the Montgomery County area. If you are refinancing, want a recommendation, need a service provider or just have a home related question, please give me a call at 301-910-9910 or email me at bobmyersteam@gmail.com.