The Cost of Your Makeover

As you think about purchasing an existing home, you may already have ideas about how to remodel it to customize it to your personal lifestyle and living needs. Indeed, many homeowners thoroughly enjoy the remodeling process and view it as a great way to make a house into a truly unique home. However, before you get started, it's important to understand the costs of remodeling (and how much you can expect to recoup when you sell the house) so you can better budget for your new home.

Minor Kitchen Remodel	Replace cabinet doors, oven and cook top, laminate countertops, sink, faucet and floor and repaint. Job cost: $17,928 Resale value: $15,278 Cost recouped: 85.2 percent
Major Kitchen Remodel	Redesign kitchen, replacing same items as minor kitchen remodel, plus built-in microwave, custom lighting and island. Job cost: $54,241 Resale value: $43,603 Cost recouped: 80.4 percent
Bathroom Addition	Add a second bath in a house with one or one-and-a-half baths; ceramic tile and linen closet. Job cost: $28,918 Resale value: $21,670 Cost recouped: 74.9 percent
Master Suite	Add a 24x16 master suite with walk-in closet, whirlpool tub, separate shower to a two or three bedroom house. Job cost: $94,331 Resale value: $68,458 Cost recouped: 72.6 percent
Attic Bedroom	Convert unfinished attic space with bedroom and shower/bath to a two to three bedroom house. Job cost: $44,073 Resale value: $35,228 Cost recouped: 79.9 percent
Two-story Addition	Add a first-floor family room and second-floor bedroom with full bath. Job cost: $105,297 Resale value: $87,654 Cost recouped: 83.2 percent
Family Room Addition	Add a 16x25 room with skylights, hardwood tongue-and-groove floor and fireplace. Job cost: $74,890 Resale value: $53,519 Cost recouped: 71.5 percent
Bathroom Remodel	Update existing bath with new tub, toilet, vanity, medicine cabinet, lighting and tile. Job cost: $12,918 Resale value: $10,970 Cost recouped: 84.9 percent
Replace Windows	Replace 10 old windows with new 3x5 vinyl-clad windows with trim. Job cost: $10,160 Resale value: $8,500 Cost recouped: 83.7 percent
Replace Siding	Replace old siding with 1,250 square feet of new vinyl siding and trim. Job cost: $9,134 Resale value: $7,963 Cost recouped: 87.2 percent
Deck Addition	Add a 16x20 deck of pressure-treated pine, including built-in bench, railings and planter. Job cost: $14,728 Resale value: $11,307 Cost recouped: 76.8 percent
Home Office	Convert existing room with custom cabinetry and rewiring for electronic equipment. Job cost: $20,057 Resale value: $12,707 Cost recouped: 63.4 percent

This is just a partial list of some of the most popular home improvement projects. Watch any of the 30-plus home improvement shows on television and you'll get thousands of makeover ideas ranging from moving furniture to create space to painting to opening up rooms by knocking down walls.

Everyone these days is obsessed with home re-dos, as evidenced by the billions of dollars spent each year. Why? Because owning a home – and making it your own – is one of the most rewarding and personal endeavors that you can tackle!

But it's not a new obsession. Owning and decorating your own home has always been a part of the"American Dream." Even founding father, Thomas Jefferson, continually renovated and remodeled his home, Monticello, over a period of four decades.

With the availability of so many inexpensive materials and the influx of information via the TV and the Internet, it's never been easier (or more affordable) to be a do-it-yourselfer.

You don't have to spend billions (or even thousands) of dollars to turn your new house into a comfortable and inviting home. Take a little paint, add a little ingenuity and a touch of imagination and you can transform your home. You'll soon see how much fun homeownership can be!