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Cost vs Value Report for Remodelers and Home Improvement Contractors

Posted by Mark Paskell on Thu, Nov 24, 2011 @ 09:47 AM

Successful remodelers use the Cost vs Value Report to educate consumers about the cost of home improvement projects.

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The report is produced by industry leader Hanley Wood and published in the Remodeling Magazine publication. The report includes the average cost of the most frequent home improvement and remodeling projects by region and major city. The report includes mid range project costs and upscale budgets. Each category includes a basic scope of work description and budget. In our sales coaching program we teach remodelers and home improvement contractors how to use this feature to hone in on the homeowners budget. Used effectively this helps contractors avoid wasting valuable time with homeowners who do not have the budget for the project they are talking about. The report is an excellent third party source that will help you differentiate your company and stand out with the homeowner. Click on the link below and go to the report map, locate your region and review the project scopes and costs for the city near you.

Here is a page from the New England Region on Mid-Range remodeling projects.

Click on the description and see the scope of work for that project type.

New England — Midrange 2011-2012
 
Job CostResale ValueCost RecoupedProjectJob CostResale ValueCost RecoupedChange vs. 2010-11
$52,654 $37,190 70.6% Attic Bedroom $50,148 $36,346 72.5% Change
$15,009 $6,361 42.4% Backup Power Generator $14,760 $7,009 47.5% Change
$66,675 $37,680 56.5% Basement Remodel $63,378 $42,338 66.8% Change
$41,753 $19,920 47.7% Bathroom Addition $40,096 $20,455 51.0% Change
$17,460 $10,329 59.2% Bathroom Remodel $16,552 $10,293 62.2% Change
$15,729 $9,856 62.7% Deck Addition (composite) $15,579 $9,780 62.8% Change
$10,460 $7,644 73.1% Deck Addition (wood) $10,350 $7,259 70.1% Change
$3,620 $1,996 55.1% Entry Door Replacement (fiberglass) $3,536 $1,990 56.3% Change
$1,281 $943 73.6% Entry Door Replacement (steel) $1,238 $903 73.0% Change
$85,767 $47,726 55.6% Family Room Addition $83,118 $50,004 60.2% Change
$58,099 $33,518 57.7% Garage Addition $57,824 $33,089 57.2% Change
$1,545 $1,151 74.5% Garage Door Replacement $1,512 $1,087 71.9% Change
$28,493 $11,894 41.7% Home Office Remodel $27,963 $11,983 42.9% Change
$58,982 $37,546 63.7% Major Kitchen Remodel $57,494 $37,785 65.7% Change
$109,932 $61,201 55.7% Master Suite Addition $106,196 $62,874 59.2% Change
$19,885 $14,253 71.7% Minor Kitchen Remodel $19,588 $14,120 72.1% Change
$22,827 $13,476 59.0% Roofing Replacement $21,204 $12,257 57.8% Change
$12,056 $8,781 72.8% Siding Replacement (vinyl) $11,729 $8,155 69.5% Change
$75,649 $33,118 43.8% Sunroom Addition $74,310 $34,133 45.9% Change
$167,478 $99,630 59.5% Two-Story Addition $165,796 $103,391 62.4% Change
$11,647 $8,408 72.2% Window Replacement (vinyl) $11,319 $7,692 68.0% Change
$12,582 $8,711 69.2% Window Replacement (wood) $12,229 $8,258 67.5% Change

Here is your direct link to the report.

Cost vs Value Report 2011-2012

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Tags: cost vs value report 2011-12