The following excerpts were taken from the Remodeling 2012-2013 Cost vs. Value Report (www.costvsvalue.com) and is meant to give you a general idea as to costs vs resale values of remodeling specific areas of your home. While the entire report lists major cities throughout the country, the Tampa report was chosen as being the closest to Charlotte County. These excerpts also show the comparison between the Tampa area vs the National averages.
A Note from SandStar:
Costs on any project are always contingent on the type or quality of the products chosen. In our area of Punta Gorda & Port Charlotte, many older homes will also require drywall, framing and construction modifications to enlarge or redesign the space.
Traditionally, we have seen a larger percentage of cost recouped in our geographic area of Charlotte County, FL.
A major consideration that should also be included in your calculations is the pleasure a homeowner derives from the positive lifestyle changes produced by the remodel for the years used before reselling....
Remodeling Cost vs Value Report 2012-13 www.costvsvalue.com
2012-13 Projects Tampa area
Major Kitchen Remodel
Tampa $104,016 (cost) $58,750 (resale value) 56.5% (cost recouped)
National $107,406 (cost) $64,113 (resale value) 59.7% (cost recouped)
MAJOR KITCHEN REMODEL - UPSCALE - Project Description
Update outmoded 200-square-foot kitchen with 30 linear feet of top-of-the-line custom cherry cabinets with built-in sliding shelves and other interior accessories. Include stone countertops with imported ceramic- or glasstile backsplash; built-in refrigerator, cooktop, and 36-inch commercial grade range and vent hood; built-in warming drawer, trash compactor, and built-in combination microwave and convection oven. Install high-end undermount sink with designer faucets and built-in water filtration system. Add new general and task lighting including low-voltage undercabinet lights. Install cork flooring, cherry trim.
Tampa $51,234 (cost) $37,871 (resale value) 73.9% (cost recouped)
National $53,931 (cost) $37,139 (resale value) 68.9% (cost recouped)
MAJOR KITCHEN REMODEL - MIDRANGE - Project Description
Update an outmoded 200-square-foot kitchen with a functional layout of 30 linear feet of semi-custom wood cabinets, including a 3-by-5-foot island; laminate countertops; and standard double-tub stainless-steel sink with standard single-lever faucet. Include energyefficient wall oven, cooktop, ventilation system, built-in microwave, dishwasher, garbage disposal, and custom lighting. Add new resilient flooring. Finish with painted walls, trim, and ceiling.
Tampa $48,692 (cost) $25,750 (resale value) 52.9% (cost recouped)
National $50,007 (cost) $29,162 (resale value) 58.3% (cost recouped
BATHROOM REMODEL - UPSCALE - Project Description
Expand an existing 35-square-foot bathroom to 100 square feet within existing house footprint. Relocate all fixtures. Include 42-by-42-inch neo-angle shower with ceramic tile walls with accent strip, recessed shower caddy, body-spray fixtures, and frameless glass enclosure. Include a customized whirlpool tub; stone countertop with two sinks; two mirrored medicine cabinets with lighting; a compartmentalized commode area with one-piece toilet; and a humidistat controlled exhaust fan. Use all color fixtures. Use larger matching ceramic tiles on the floor, laid on the diagonal with ceramic tile base molding. Add general and spot lighting including waterproof shower fixture. Cabinetry shall include a custom drawer base and wall cabinets for a built-in look. Extend HVAC system, and include electric in-floor heating and heated towel bars.
Tampa $14,807 (cost) $9,914 (resale value) 67.0% (cost recouped)
National $15,782 (cost) $10,295 (resale value) 65.2% (cost recouped)
BATHROOM REMODEL - MIDRANGE - Project Description
Update an existing 5-by-7-foot bathroom.
Replace all fixtures to include 30-by-60-inch porcelain-on-steel tub with 4-by-4-inch ceramic tile surround; new single-lever temperature and pressure-balanced shower control; standard white toilet; solid-surface vanity counter with integral sink; recessed medicine cabinet with light; ceramic tile floor; vinyl wallpaper.
©2012 Hanley Wood, LLC. Complete data from the Remodeling 2012-13 Cost vs. Value Report can be downloaded free at www.costvsvalue.com