Interested in learning more about which remodeling projects provide the greatest ROI (return on investment) when a home sells? According to the Remodeling 2016 Cost vs. Value Report (www.costvsvalue.com), here are their estimates for a few popular mid-range projects for homes located in Tampa, Florida, as well as Regional and National estimates for 2015. For the ROI in eight specific Florida cities, be sure to go to www.remodeling.hw.net.
2 Popular Midrange Projects
Minor Kitchen Remodel – In a functional 200 SF kitchen with 30 linear feet of cabinetry and countertops, leave cabinet boxes in place but replace fronts with new raised-panel wood doors and drawers, including new hardware. Replace wall oven, cooktop, and slide-in refrigerator with new energy-efficient models. Replace laminate countertops; install mid-priced sink and faucet. Repaint trim, add wallcovering, and remove and replace resilient flooring.
| Tampa | Job Cost: $18,679 | Resale Value: $21,400 | ROI: 114.6% |
| South Atlantic | Job Cost: $18,907 | Resale Value: $16,425 | ROI: 86.9% |
| National | Job Cost: $20,122 | Resale Value: $16,716 | ROI: 83.1% |
Major Kitchen Remodel – Update an outmoded 200 SF kitchen with a functional layout of 30 linear feet of semi-custom wood cabinets, including a 3×5 foot island; laminate countertops; and standard double tub stainless steel sink with standard single-lever faucet. Include energy efficient wall oven, cooktop, ventilation system, built-in microwave, dishwasher, garbage disposal, and custom lighting. Add resilient flooring. Finish with painted walls, trim and ceiling.
| Tampa | Job Cost: $54,497 | Resale Value: $35,924 | ROI: 63.6% |
| South Atlantic | Job Cost: $56,901 | Resale Value: $36,438 | ROI: 64.0% |
| National | Job Cost: $59,999 | Resale Value: $38,938 | ROI: 64.9% |
We hope you found this post to be helpful, informative and interesting… Watch for our next BLOG POST on March 24th as we continue this series. To learn more about Tampa Bay area homes for sale in Spring Hill and Brooksville, located in Hernando County, Florida, visit us @ www.GailSellsFloridaHomes.com… Be sure to check out our custom, state-of-the-art, MLS Map Search Feature, which you’ll find to be fully functional on any and all of your devices!
Until then… it’s all about YOU!Source: Remodeling Magazine, 2016 Cost vs. Value Report, Mid-Range Projects
Copyright 2016 Hanley Wood Media Inc. Complete data from the Remodeling 2016 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.