22 Jul Why Remodel?
The answer depends on the reason you’re considering remodeling in the first place. Perhaps you’re in an older home with cabinetry that is showing its age or a layout that is outdated, so it could simply be time to get with the times.
Or maybe you’re in a home you plan to live in for a long time and find yourself wanting a nicer, more comfortable space for the next decade or two. Perhaps there will soon be more people – or fewer people – living in the home, so your cooking/dining/entertaining needs are changing.
Or, maybe you’re planning to sell soon, and are wondering if a full-scale or partial kitchen or bathroom upgrade will help sell your property faster, and at a higher price. It’s a big decision.
Is it worth it?
This is the question we ask ourselves whenever considering a big investment of time and money. The good news is, unlike a new car or that fancy vacation, you’ll actually get a significant return on your investment over and above the sheer pleasure of having it. Of course, here at ICD we hope your answer is a resounding “YES”, and that you choose to do so with us. 😊
For the last few years, Houzz.com has conducted an interesting Kitchen Survey of their website users to get an idea of trends in kitchen remodeling decisions. Have a look at houzz.com/ideabooks/research and see how your thought processes compare!
Taking a look at some cost vs. value data for 2018 might also prove helpful. The chart below shows the potential return on Midrange Projects (M) and Upscale Projects (U). It was taken from remodeling.hw.net . These are national numbers – the Reno/Tahoe area has even higher recouping of costs than the national average.
|PROJECT||JOB COST||RESALE VALUE||COST RECOUPED|
|Minor Kitchen Remodel – M||$21,198||$17,193||81.1%|
|Major Kitchen Remodel – U||$125,721||$67,212||53.5%|
|Major Kitchen Remodel – M||$63,829||$37,637||59.0%|
|Bathroom Remodel – M||$19,134||$13,422||70.1%|
|Bathroom Remodel – U||$61,662||$34,633||56.2%|
|Bathroom Addition – M||$44,717||$26,769||59.9%|
|Bathroom Addition – U||$83,869||$45,752||54.6%|
|Master Suite Addition – M||$123,420||$69,807||56.6%|
|Master Suite Addition – U||$256,229||$123,797||48.3%|