Project Costs

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Estimating the costs of a home project can be tricky. A remodeling cost estimation can determine whether you should do the work yourself or hire a contractor.

Project Costs and Remodeling Cost Estimation

Project costs vary depending on what you are doing. Spending more money on some projects may help you in the long run, but could prove too expensive if you're on a budget. A free estimate from a few contractors can help. For example, here are some mid-range average project costs from across the country for 2009 to 2010:

  • Wood deck addition: $10,634
  • Bathroom remodel: $16,142
  • Roofing replacement: $19,731
  • Basement remodel: $62,067

According to Hanley Wood, a trade publication that keeps a tab on construction prices, a remodeling cost estimation varies with your geographic region. Breaking down the wood deck addition looks like this:

  • New England: $11,207
  • Middle Atlantic: $11,264
  • South Atlantic: $9,505
  • East North Central: $10,675
  • West North Central: $10,505
  • East South Central Region: $9,075
  • West South Central: $9,773
  • Mountain: $10,608
  • Pacific: $12,838

Of course, the best way to know your specific project costs is to contact local contractors for a free remodeling cost estimation.

Reselling and Project Costs

Also worth noting is that for every dollar you spend on a remodel, you recoup less than you put into it when you resell the property. For example, the national average for a bathroom remodel recoups $11,454 on a resale, just 71 percent of the investment.