Making Sense of the “Cost vs. Value Report” – CCI Management Memo

President Bill Farnsworth, general manager Scott Blain.Remodeling magazine’s 2016 “Cost vs. Value Report” is out and, as usual, contains some interesting data for homeowners to mull over.

 

The report “compares average cost for 30 popular remodeling projects with the value those projects retain at resale in 100 U.S. markets.” To see local results, visit www.remodeling.hw.net/cost-vs-value/2016, select New England and then click Boston, Massachusetts.

 

We should warn you ahead: Some of the average job costs seem high from our standpoint, so you might be in for a little sticker shock. For some perspective, below are a few highlights from the report:

cost-report-april2016NL

 

 

 

 

 

 

 

 

So, what should you keep in mind as you review the report?

1) The figures may be higher (or possibly lower) than you anticipated. But remember: The report doesn’t mention the specifications for each project type. One upscale bathroom addition can be quite different from another upscale bathroom addition. The numbers here are just averages. (And here are some important questions to consider: Will your newly remodeled space or addition make it easier for your family to function in the house, enable you to enjoy it more and/or keep you from having to move to a new home?

 

2) Having said that, the data is unquestionably useful for homeowners starting to plan a remodeling project. If you have no idea what it might cost to remodel your bathroom, for example, the report will give you a decent clue.

 

3) If you want a more specific estimate of what your project will cost, you can call Custom any time. We’ve completed hundreds of projects since 1990, so we can quickly give you a “ballpark” quote simply by asking a few questions and crosschecking with our past projects.

 

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Custom Contracting, Inc.
1267A Massachusetts Ave.
Arlington, MA 02476

Phone: 781-648-2835
Fax: 781-648-0907
Email: cci@custom-contracting.com

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