Data Source

Cost
Cost data are generated by HomeTech Information Systems, a remodeling estimating software company based in Bethesda, Md. HomeTech regularly collects current cost information from a nationwide network of remodeling contractors and suppliers, and employs an adjustment factor to account for regional pricing variations. Construction cost figures include labor, material, subtrades, and contractor overhead and profit.

Value
For each project, the "resale value" data are aggregated from estimates provided by members of the National Association of Realtors. E-mail surveys containing project descriptions, construction costs, and median home price data for each city were sent to more than 150,000 appraisers, sales agents, and brokers. More than 4,500 survey respondents used this information to estimate the value that the remodeling projects would add to the house at resale in the current market. Respondents were instructed not to make judgments about the motivation of the homeowner in either the decision to undertake the remodeling project or to sell the house. The survey was in the field for approximately eight weeks in July and August of 2008.