2007 Home Improvement Values, Louisville KY vs. Nation
Posted by Tre Pryor, Editor-in-Chief on February 02, 2008 in Residential, Trends/Statistics tagged withIn one of our most popular posts of last year—Comparing Home Improvements in Louisville with the Nation—we looked at how home improvement project costs were recouped when it came time to sell your home. This is important information given that so many homeowners desire to include 100% of their home improvement dollars in their asking price when it comes time to sell, which isn’t realistic.
Now we have the numbers for 2007! Unfortunately, in almost every case, recoup values have gone down, sometimes drastically. But having this information should help every homeowner better prepared for both what kind of home improvement projects to undertake, as well as, what kind of home value increase is reasonable for each project.
Costs Recouped: 2007
| Additions | Kentucky | National |
| Bathroom (Midrange) | 63.8% | 66.0% |
| Bathroom (Upscale) | 66.8% | 69.0% |
| Deck | 79.7% | 85.4% |
| Family Room | 68.5% | 68.6% |
| Master Suite (Midrange) | 68.9% | 69.0% |
| Master Suite (Upscale) | 64.7% | 64.1% |
| Sunroom | 52.9% | 59.1% |
| Two-Story | 72.2% | 73.9% |
| Remodels | ||
| Attic Bedroom | 74.7% | 76.6% |
| Basement | 70.0% | 75.1% |
| Bathroom (Midrange) | 76.0% | 78.3% |
| Bathroom (Upscale) | 66.1% | 68.4% |
| Home Office | 51.3% | 57.0% |
| Kitchen Minor (Midrange) | 77.7% | 83.0% | Kitchen Major (Midrange) | 76.3% | 78.1% |
| Kitchen Major (Upscale) | 70.7% | 74.1% |
| Replacements | ||
| Roofing (Midrange) | 58.2% | 67.4% |
| Roofing (Upscale) | 60.8% | 65.7% |
| Siding | 74.0% | 83.2% |
| Siding (Fiber Cement) | 81.0% | 88.1% |
| Siding (Foam-Backed Vinyl) | 72.9% | 79.7% |
| Windows (Midrange-Wood) | 75.2% | 81.2% |
| Windows (Midrange-Vinyl) | 69.4% | 79.3% |
| Windows (Upscale-Wood) | 74.2% | 79.3% |
| Windows (Upscale-Vinyl) | 75.1% | 81.0% |
Remodeling Cost vs. Value Report 2007
[...] I just wrote a new post on Louisville Homes Blog that I think you’d like to know about. It looks at the percentage of cost a number of home improvement projects typically recoup, both for Louisville, Kentucky and how that compares to the Nation. [...]