Yesterday we talked about the return on investment for high end or upscale remodeling projects, so today we are going to talk about mid-range projects. As I mentioned yesterday, the results are not the same. While the most common mid-range project is a two story addition, the two projects that yield the most return on investment are adding an attic bedroom and replacing an entry way door (I was kind of surprised by that). Kitchen remodels were right behind.
Even though it is a small project, it looks like replacing an entry way door could be a good investment on a mid-range project. The kitchen and bathroom still hold strong in this report, but still seem low to me.
This report is also based off of national averages, so it is going to vary from region to region. The reason I think kitchen remodels and even bathroom remodels do not rank as high on this report is because of the tendency to over spend. Both rooms have more variables and materials that go into it that can vary greatly in cost. Even in just the cost of the cabinets and counter top materials, the price range can vary greatly.
While I don’t think these reports are 100% accurate, it does give you some food for thought when you are trying to add some value to your home or trying to decide which remodeling project to start.