Home Remodeling

Remodeling Your Home By The Numbers

Prior to putting their property for sale, many sellers are choosing the remodel their property to add value and increase the likelihood of a quicker sale. Updating flooring, countertops, appliances, etc. can make a big difference when the home is competing with many other similar properties.

What to Remodel

When you are ready to nail down your plans (so to speak), here are some suggestions from industry experts. According to Realtor Magazine Online, since 2002 the biggest return on investment at resale has come from four remodeling projects: kitchen, bathroom, siding and windows.

Kitchen Remodel

Kitchen Remodel Photo Without doubt, the kitchen is the number one candidate for remodeling in most homes. Outdated countertops and appliances are commonly listed by prospective buyers as reasons they decided not to purchase the home.

Add usability with dual sinks and cooking stations. Add aesthetics with commercial-quality, stainless steel appliances and stone countertops. Add space with a breakfast nook or walk-in pantry. Add livability with a computer desk or hobby area.

Suzanne Lasky

Flooring and Counter presentation document by Suzanne Lasky - Interior Designer (Microsoft Word Document) »

Suzanne Lazky's Interior Design website »

Suzanne Lasky, owner of S Interior Design is an Allied Member of A.S.I.D., and Bajaro Method certified. She has an M.B.A. and an A.A.S. degree in Interior Design. Suzanne offers years of real world experience, giving her clients the peace of mind to know that their projects will be professionally handled from start to finish.

A minor kitchen remodel with a job cost of $14,913.00 equated to a resale value of $14,691.00 or 98.5% return on investment.
A major kitchen remodel in a midrange home with a job cost of $43,862.00 equated to a resale value of $39,920.00 or 91.0% return on investment.
A major kitchen remodel in an upscale home with a job cost of $81,552.00 equated to a resale value of $39,194.00 or 84.8% return on investment.

Bathroom Remodel

Bathroom remodel photo Bathrooms, especially the master bathroom, are excellent candidates for remodeling and can bring not only satisfaction to the homeowner but high return-on-investment when the time comes to sell the property.

Add light with skylights and glass blocks without losing privacy. Add space with walk-in dual shower, vaulted ceiling, recessed medicine cabinet or a curved shower curtain rod. Add functionality with twin sinks or vanities. Add aesthetics with ceramic tile or stone flooring, stone countertops, heated towel bars and floors.

A bathroom remodel - midrange home with a job cost of $10,499.00 equated to a resale value of $10,727.00 or 102.2% return on investment.
A bathroom remodel in an upscale home with a job cost of $26,052.00 equated to a resale value of $24,286.00 or 93.2% return on investment.

Siding Replacement

Siding Remodel Photo In Arizona, the typical home is stucco on the outside thus siding doesn't play into the plans of most homeowners in the area. Stucco is a material made of an aggregate, a binder, and water which is applied wet, and hardens when it dries. It is used as a coating for walls and ceilings and for decoration. For those homes that do have siding, new vinyl siding looks fresh and tidy year after year with minimal upkeep.

Siding remodel projects typically bring 95.5% to 103.6% return on investment and can add to curb appeal for prospective buyers.

Window Replacement

Window Remodel Image New windows will help you realize additional savings in monthly utility bills, especially in the summer months here in Arizona. Prospective buyers view windows as they do other structural items, so failing to update old ones may affect potential offers. Especially important is replacing older single-pane windows with newer dual-pane windows for increased energy efficiency. Newer styles include seamless bent-glass corner windows (sometimes called "butt-glass"), curved glass and casements with no center stile.

Window replacement projects typically bring a return-on-investment percentages in the high eighties to low nineties.

Before You Budget

Imagine the new space and make sketches. It's easier to plan something you can see.

Explore. Talk to people who have done a similar renovation. Read books, magazines and Web sites, get onto renovation listservs, watch instructional videos. Take notes!

Think Ahead. Is the renovation intended to add value when you sell next year? Then pay special attention to assessing the value of the house and neighborhood. Add comfort or pleasure? Accommodate a growing or shrinking household? If you plan to stay for a number of years, almost any renovation will be worth its cost.

If you are thinking about remodeling your house, your first task will be to create a realistic budget. But that involves some careful pre-planning. Go through the guidelines here, then create a basic worksheet to define your remodeling budget.

The Budget Process

Figure out how much money you have to spend on a remodel without straining other budgets.

Figure your debt-to-income ratio. If you're planning to borrow, you need to know whether you can handle the extra debt.

If you are working with an architect, designer or contractor:

Bring your drawings, budget and other figures to them for help with cost breakdowns.

If you are going at it alone, the following will be your responsibility:

Estimate project costs for materials, labor, permit fees, and so on.
Create a timeline to help contractors plan the project and help you budget efficiently.

If you are thinking of remodeling your property, talk to us for our recommendations as to contractors and the potential impact the project may have on increasing the ability to sell your property in the future and what you might expect to see in regards to a return-on-investment.