Remodeling magazine www.RemodelingMagazine.com publishes an annual Cost vs. Value Report, ranking returns on common remodeling projects across the country. While actual remodeling prices vary by area, here is a brief overview:

• A minor kitchen remodel, which includes refinishing the cabinets, installing a new wall oven and cook top, countertops, sink, flooring, and wall covering-, costs an average $14,773. The average return runs about 87%.
• A bath remodeling with average cost of $9,786 includes a new tub, toilet, double sink vanity, medicine cabinet, ceramic tile floor and tile walls in the shower stall. The averaged recouped amount is about 80%.
• If you're considering an addition, the average cost runs nearly $50,000 for a 16' x 25' room, using the existing heating and air system. The return is about 78% of the cost.
• Adding a deck (16' x 20') with bench, railings, and planter costs on average $5,865 and returns 75%.

If you're using a home equity loan to pay for the improvements, there is also some tax benefits from undertaking the work.