Additions.
Here is the third installment of the cost vs. value series. Today we take a look at expansion...the good kind, not the belt kind. Adding on to a home can add value to it when it's done where it makes sense. These two home improvement projects are quite the undertaking so most of you will hire out contractors. If you are a DYI'er these projects could net you some SWEET tools if you negotiate with your wife properly (email me for tips). Part tres of our series covers Family room and Master Suite additions. These numbers are compiled by Remodel Magazine from projects done to homes in the Seattle area. Resale estimates are based on a sale scenario a year after project completion.
To check out part 1 Kitchens click here, or for part 2 Bathrooms click here.
Family Room Addition Project Description: In a style and location appropriate to the house, add a 16-by-25-foot room on a crawlspace foundation with wood siding and fiberglass shingle roof. Include drywall interior with batt insulation, prefinished hardwood floor, and 180 square feet of glazing, including windows, atrium-style exterior doors, and two operable skylights. Tie into heating and cooling.
- Project cost: $61,514
- Resale Value: $66,857
- Cost recouped: 108.7%
Master Suite Addition Project Description: On a house with two or three bedrooms, add a 24-by-16-foot master bedroom suite with bath over a crawl space. Include walk-in closet/dressing area, whirlpool tub in ceramic tile platform, separate 3-by-4-foot ceramic tile shower, and double-bowl vanity with solid surface countertop. Carpet bedroom floor, and install ceramic tile on bathroom floor. Paint the walls, ceiling, and trim. Add general and spot lighting and exhaust fan.
- Project cost: $83,349
- Resale value: $101,667
- Cost recouped: 122%
Part 4 of our cost vs. value series will be release early next week!
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