As homeowners contemplate the various renovations that can improve the look and feel of their home, they quickly discover that not all renovations are created equal. One of the fundamental questions that might be asked is how likely will I be to get a return on my investment if I embark on an expensive renovation, and which is highest on the list.
There is no easy answer because what a homeowner may decide on depends on several factors, including the choice of project, the materials used and value of other homes in your neighborhood.
Some choose to invest more in high-end renovations because you love your house and plan to live in it for a long time while others while want to recoup what they invested. If you are in the former group, a kitchen or bath renovation will be top on your list.
According to the Joint Center for Housing Studies at Harvard University, kitchens and bathrooms can be the most costly to renovate, but more likely to pay for themselves over time. Additional renovations, like adding a family room or master suite also tend to fare well when resale time rolls around.
While the kitchen has always been the heart of the family and most popular room, the total cost of kitchen renovations varies widely. According to Home Advisor’s Chief Economist Brad Hunter, the average cost nationally to remodel a kitchen is $21,668.
But he also adds that replacing appliances with new updated models, installing granite countertops, designing and installing custom cabinets, flooring such as tile, recessed or under counter lighting or center island, a kitchen remodel can run upwards of $40,000 to $100,000 or more.
Here are some examples of what you might expect to find in a mid to upper range kitchen remodel.
Bathroom remodels provide some of the highest resale returns on investment, but they don’t come cheap and can take time to complete. Therefore it is essential to gather and plan your bathroom remodeling ideas ahead of time and find the right contractor for the job.
Here are some examples of what you might expect to find in a mid to upper-range bathroom renovation.
For an enjoyable, high-quality renovation experience, Artisan Contracting can help you get through the stress and worry about your upcoming project. You’ll love our work, and we’ll help you make smart, informed decisions about your renovation.