Economics of Remodeling Your Condo

I came across this good article in Remodeling Online which looks at the cost recovery of remodeling projects.

The big takeaway is that most do not yield a positive ROI when you exclude the enhanced quality of life the owner/resident benefits from after the remodel is done and before the property is sold.  An excerpt of the Top 3 ROI remodeling projects are below -- notice the ROI is less than 5% not including cost of capital and inconvenience factor.  For the whole list of other remodel efforts, check it out here.

Project	Job Cost	Value at sale	% Cost Recovered	2005 Rank	2004 Rank	2003 Rank
Siding Replacement - Upscale	$10,393	$10,771	103.6%	1	n/a	n/a
Bathroom Remodel - Mid-Range	$10,499	$10,727	102.2%	2	5	6
Minor Kitch. Remod - Mid-Range	$14,913	$14,691	98.5%	3	2	n/a

-Wendy

Technorati Tags: condo remodel, condo rennovation, home improvement roi