Here's an advance look at some of the results of the 2018 Cost vs. Value report that we'll publish in January. The chart above shows how the average national costs have changed for 20 common remodeling projects done by pros. The numbers come from RemodelMAX, a research firm that keeps track of labor and product costs in markets nationwide.
Note that these numbers reflect costs and changes from mid-year 2016 to mid-year 2017. They don't encompass the run-up in lumber and other product prices that have occurred this fall and that already have led RemodelMAX to urge remodelers to adjust their cost estimates once again.
The (M) and (U) designations on the chart distinguish whether the project is meant to be a mid-range or upscale project. The difference between a midrange and an upscale project usually has to do with the scope of work and the complexity of the project. It also has to do with different quality standards for finishes. For details on each project, go to the Cost vs. Value home page and click on each project's name.
The 2018 report expands on past ones by providing data on 149 markets nationwide. We'll continue to give value numbers for 100 of the biggest markets. Expect the report to come out in mid-January. For more, contact me.
