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Smaller projects that boost a home’s curb appeal continued to be
popular in most markets. Steel entry door replacements, for example, ranked No. 1 for total recoup cost nationwide, in the west south central U.S., and in Houston, recouping up to 105.5% of the total project cost. In addition, projects that increased a home’s livable square footage using existing spaces showed significantly higher recoup cost values and growth in 2013. Basement remodels ranked in the top five for recoup cost in four of the five major cities in Texas, recouping up to 99.6% of the total project cost.
• Larger remodeling projects or additions were popular mostly for functional, utility rooms such as kitchens, bathrooms and garages:
Kitchen remodeling projects ranked in the top five for recoup cost in the west south central U.S. plus all five major markets in Texas, recouping up to 143.8 percent of the total project cost.
o Bathroom remodeling projects ranked in the top five for growth in recoup cost in the west south central U.S., Austin, Dallas, and El Paso, including ranking No. 1 in Dallas with a 23.6 percent gain in recoup cost.
o Garage additions ranked in the top five for recoup cost in Dallas and El Paso, recouping up to 86.8 percent of the total project cost.
Conversely, costly room additions and upscale remodeling projects were among the least profitable projects. Sunroom additions, for example, ranked in the bottom five for recoup cost in five Texas metro areas, recouping a maximum of 61.3% and as little as 38% of the total project cost.
Houston
Home remodeling projects in Houston had the second-greatest overall recoup cost values amongTexas’s five major cities, with the highest project recoup cost at 105.5 percent and the lowest at 48.9 percent.
• Steel entry door replacements were the most profitable project, recouping 105.5 percent ($1,153) of the total project cost, a 9.2 percent ($100) gain in 2013.
• The largest gain in recoup cost in 2013 was in backup power generator installation, which jumped 29.7 percent ($3,470) to recoup 93.6 percent ($10,419) of the total project cost.
• Sunroom additions were the No. 5 fastest-growing project in 2013, increasing 4.8 percent ($2,471) to 52.5 percent ($36,189) of the total project cost, despite also being the No. 2 least profitable project in Houston.
source -www.TexasRealEstate.com Editorial Staff
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