In the 2014 Cost vs. Value Report, conducted for Remodeling Magazine, vinyl window replacement projects in the “midrange” category were found to incur a 100% return on value for an residential home in the Pacific Region. In the “upscale” category, return on investment was found to be 98%.
The estimated cost of the midrange vinyl window replacement was $11,220, while creating an additional home value of $11,206. In the upscale category of vinyl window replacement, the cost was estimated at $14,377, and brought an additional home value of $14,098.
This study, which gets compiled for industry insiders each year, reflects cost based upon industry averages, and not specific design specifications or upgrades each individual home owner may select. For the resale value, they turn to the National Association of Realtors for sales data.
The annual Cost to Value report is conducted on 22 different remodeling projects for existing homes, and includes all costs for labor, materials, sub-trade expenses and standard overhead costs for remodelers, which will be charged for a window replacement project. This study is not conducted for the do-it-yourself market.
For the second year in a row, the cost to value has shown significant improvement for remodeling cost to value. This is attributed largely to the increases in home values (11.5% increase last year), and the on-going pressure in construction and remodeling project costs (2% increase last year). This improvement is expected to continue as the housing market continues its recovery.