2006 Cost vs Value Report Released

The 2006 Cost vs. Value Report was issued this week. This years report takes a new look at the specifics for 25 typical remodel projects, the result of which is a handy matrix of cost-to-construct figures (which are inclusive of labor, material, sub trades, and gross profit) Many of which are not only higher than in previous years but also, according to Remodeling Magazine, are considerably more accurate. Estimates of resale value were also reportedly more accurate than ever before, thanks to a record 2,188 members of the National Association of Realtors that completed the magazines e-mail survey. So, any surprises? Not really. One thing I did find interesting was the stats for replacement windows. I knew replacing the inefficient windows in an older home would make the list as an investment that would be recouped not only in the percentage of value added to the home, but also in reduced energy consumption. What I didn't know was that according to the survey results, wooden replacement windows actually add more value than their vinyl cousins. Hmmm, interesting....very interesting indeed.