Annual Cost vs Value for Los Angeles Area Home Remodel - 2023 Report

 

Remodeled kitchen white counters

The annual summary on cost vs. value for home projects is out for 2023. This is an interesting guideline for what homeowners might expect for return on projects, it is not, however, equally applicable to all properties or to all cities in the Los Angeles area.  Homeowners and prospective buyers will vary according to perceived value and personal preferences, architectural style, neighborhoods, or construction era of home. Notice that some installations, i.e., vinyl windows, do not deliver the return they once did as they become more common and an expected feature in the market.  Also, availability of supplies in the market may affect some features if they are considered more "prized" to obtain.  Also interesting is that midrange cost remodels offered a better return than much more expensive upscale remodels of kitchens and baths.

The following information is provided by Zonda Media through "remodeling by JLC" magazine.

Garage Door Replacement - one of best returns on lowest cost: $4781 with 99.9% return

Steel Entry Door Replacement - $3859, 68%

Vinyl Siding Replacement - $16,321, 105%

HVAC Conversion, Electrification - $18,311, 103%

Minor Kitchen Remodel - $28,509, 88%

Midrange Major Kitchen Remodel - $82,391, 43%

Upscale Major Kitchen Remodel - $164,841, 30%

Bathroom Addition Midrange - $60,708, 30%

Bath Remodel Midrange - $26,342, 67%

Vinyl Window Replacement - $22,455, 67%

Go to remodeling by JLC for the complete report.

When a home is appraised for value by a licensed appraiser, comparisons to other nearby properties are made based on similar condition, upgrades and features.

Julia Huntsman, REALTOR, Broker | http://www.abodes.realestate | 562-896-2609 | California Lic. #01188996