How much money are you going to recoup on that recent master suite addition? The 2015 Texas Remodel Valuation Report may have the answer.
Released April 1 by the Texas Association of Realtors, the report analyzes the recoup costs in 2014 for more than 20 remodeling projects for six cities: Austin, Dallas, Houston, El Paso, McAllen and San Antonio. It also looks at nationwide trends.
In general, the research shows that functional projects are a much better investment than upscale remodels and additions.
A frivolous sunroom is the last place you want to spend your money, as the return was only 42.6 percent of the total cost in Austin and as little as 29.3 percent nationwide. Others in Austin’s bottom five are upscale garage addition, home office remodel, upscale master suite addition and upscale composite deck addition.
So where should you sink your hard-earned pennies?
In Austin, stone veneer accents were the most profitable, recouping 123.7 percent of the total cost. Another winner: wood deck addition, which delivered a return of 116 percent. Entry door replacement, window replacement and garage door replacement rounded out the five most profitable projects in Austin.
You can see the full report on the Texas Association of Realtors website.