Value of Home Remodeling
Yes, home improvements, additions and remodeling can be costly. But did you know that some home remodeling projects can be recouped at 90 to over 100% of the value of the cost you put into it? Which projects reap the most benefits in the value of your home (whether you’re refinancing or selling your home)?
How do you calculate the value of each projects? Well alot depends on square footage, building materials used, and added features. Below find some examples:
A Basement remodel: By finishing the lower level of your house to create a 20-by-30-foot entertaining area with wet bar and a 5-by-8-foot full bath, for example. If your walls and ceilings are painted drywall throughout; exterior walls are insulated; painted trim throughout. You could use recessed lighting to make the most of the space and possible lower ceilings, and use a sturdy, high traffic laminate flooring system.
- Job Cost range: $51,000
- Resale value: $46,000
- Cost Recouped: 90.1%
Bathroom Remodel: For example for an existing 5-by-7-foot bathroom, you could replace all fixtures to include 30-by-60-inch porcelain-on-steel tub with 4×4-inch ceramic tile surround; new single-lever temperature and pressure-balanced shower control; standard white toilet; solid-surface vanity counter with integral sink; recessed medicine cabinet with light; ceramic tile floor; vinyl wallpaper.
- Job Cost range: $10,500
- Resale Value: $10,650
- Cost Recouped: 101.3%
Kitchen Remodel: For example, if you were to update outmoded 200-square-foot kitchen with 30 linear feet of top-of-the-line custom cherry cabinets with built-in sliding shelves and other interior accessories. Include stone countertops with imported ceramic or glass tile backsplash; built-in refrigerator, cooktop, and 36-inch commercial grade range and vent hood; built-in warming drawer, trash compactor, and built-in combination microwave and convection oven. Install high-end undermount sink with designer faucets, and built-in water filtration system. Add new general and task lighting including low-voltage under-cabinet lights. Install cork flooring, cherry trim.
- Job Cost range: $81,500
- Resale Value: $70,000
- Cost Recouped: 84.6%
For help with your next remodeling project for kitchen, bath, basement or any room in the house, stop by our Lexington KY store, so we can help design and meet your budgetary and design needs. We can work with your budget to provide quality results with a return on your investment!
For more Remodeling Costs vs. Value Report figures: CLICK HERE