Are you wondering how the cost of remodeling has changed in the last few years?
The average price nationwide for having a professional do 27 common remodeling projects rose 3.1% from mid-year 2016 to mid-year 2017.
The numbers in the chart above come from RemodelMAX (a research firm that keeps track of labor and product costs in markets nationwide). It shows how the average national prices have changed for 20 common remodeling projects done by pros.
The (M) and (U) labels on the chart differentiate whether the project is a mid-range or upscale project. The distinction between a midrange and an upscale project typically has to do with the scope of work and the difficulty of the project. It also has to do with the quality standards for finishes.
How the Cost of Remodeling Has Changed the upcoming year
Based on the last several years we can anticipate increased costs for remodeling for 2018. The research above does not include the increase in lumber and other production costs that have transpired this fall due to hurricanes and fires.
The 2018 report will expand on past Cost vs. Value articles by providing data on 149 markets nationwide. Expect the report to come out in mid-January.