Every year Remodeling Magazine produces a Cost vs. Value Report on the top home remodeling projects which offer the best return on investment. As you might expect many of the top ROI projects are home improvements, as opposed to large additions like bedrooms or family rooms. Since the recession, we have seen a shift happen in the types of projects homeowners are requesting, with this year’s report continuing to reflect that trend.
At Riggs, we are seeing people do more with less (usually existing space) and remodeling areas of the home which have needed it for some time. This year alone, our phones have been ringing off the hook, with new and old customers asking about remodeling. They want to know what they can do, to get the most out of their space, because mobility is no longer a first option with the current economy.
As part of the report, Remodeling Magazine literally breaks down the cost recouped on projects in a metro area, including St. Louis. Below are the top projects in St. Louis:
- Attic Bedroom – Cost recouped 62.3%
- Backup Power Generators – Cost recouped 41.4%
- Basement Remodel – Cost recouped 52.4%
- Bathroom Addition – Cost recouped 47.9%
- Bathroom Remodel – Cost recouped 55.1%
- Deck Addition (wood) – Cost recouped 70.7%
- Deck Addition (composite) – Cost recouped 49.1%
We would like to highlight the top project on this list, attic bedrooms. This project has been on the list three years running. While an attic remodel is more expensive than other typical remodels, they have proven to be highly valued.
With a dormer, attic bedrooms can be the size of a typical bedroom in the existing footprint of the home. In many cases we can add closet space in the eaves and even include a bathroom. Many homeowners are surprised by the space they have always had above their head. If you are interested in an attic remodel, give us a call today!