TEXAS - Residential remodeling projects in Texas’ major cities grew increasingly profitable and popular in 2013, according to the 2014 Texas Remodel Valuation Report by the Texas Association of Realtors.
The report analyzed the project recoup costs and recoup cost growth in 2013 for remodeling projects in Austin, Dallas, El Paso, Houston and San Antonio. Four of the five Texas markets showed significant gains in project recoup costs in 2013.
All five Texas markets demonstrated that smaller, functional remodeling projects showed greater increases in recoup costs than upscale, luxury projects.
Steel entry door replacements ranked number one for total recoup cost nationwide and in Houston, recouping up to 105.5 percent of the total project cost.
Basement remodels ranked in the top five for recoup cost in four of the five major cities in Texas, recouping up to 99.6 percent of the total project cost.
Kitchen remodeling projects also ranked in the top five for recoup cost growth in all five Texas metro areas, recouping up to 143.9 percent of the total project cost.
Backup power generators ranked number one for recoup cost growth in Austin, El Paso and Houston including a 105.1 percent gain in recoup cost in El Paso in 2013.
Natural materials, such as wood, cement and steel, led to a significantly higher recoup cost than synthetic, plastics-based materials, such as composites and vinyl.
Sunroom additions ranked in the bottom five for recoup cost in five Texas metro areas, recouping a maximum of 61.3 percent and as little as 38 percent of the total project cost.
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For the full report, see the Texas Association of Realtors.