Home Renovations that Make Sense

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If your home is on the market here in South Florida, or destined soon to be there, then you may want to consider some renovation, especially if your home is somewhat dated. 

And if you’re not moving, consider fixing up now so you can enjoy the improvements until you’re ready to sell.

 Everybody’s favorite place to fix-up: the kitchen.

You have two choices in the kitchen: minor remodel, or major remodel. The minor usually involves re-facing or replacing the cabinet drawers and doors and buying newer appliances. A standard kitchen will probably cost about $7500 to $15,000.

A major remodel, which usually means a total gut and replacement of everything in the kitchen, including the plumbing, the flooring, the counters, cabinets and appliances, is likely to run from $18,000 to infinity, depending upon the size of your kitchen and the quality of what you choose.

If you’re trying to estimate costs beforehand, you can figure that cabinets will cost from $50-100 per running foot, while granite counter tops can range from around $55 per square foot to well over $150 per square foot. Average cost that this project recoups is about 75-80%.

 

Number 1 (and number 2) on the remodel list: bathrooms.

A bathroom remodel can be as simple as the removal and replacement of the vanity and counter, or it can include a total repositioning of toilets, sinks, and even tub and shower, depending upon how extreme you want to be.

In the early days of home building, a bathroom was a utilitarian place: tub/shower, toilet, sink, and with minimal room. Today’s bathrooms, by comparison, may be virtual palaces, with whirlpool baths, separate showers, enclosed water closet for the toilet and bidet, and double sinks.

You can expect to spend $3-4,000 on the whirlpool, and an additional $3-$8,000 on the ceramic tile. Master bath makeovers may run anywhere from $10 – $45,000 or more, with a recoup factor of around 75%.

 

Windows($25-$60 per square foot) – Recoup: 85%
In addition to sprucing up your home’s exterior, new windows can substantially improve the energy efficiency. This is a big selling point, as the cost of heating and air conditioning has continued to soar.

The total cost will depend on the brand and type of window you select, along with the difficulty of the installation. Storm windows and those with thermal glass will be at the middle of the cost range. Specialty windows such as double-hung and bay windows will be at the top of the range.

Quality windows will increase the comfort of your home and help to prevent moisture and mold from building up inside. They will also do a better job of restricting pollen and bugs, and reducing outside noise levels.

 

Master Bedroom Suite ($115 – $200 per square foot) – Recoup: 75%
Older homes benefit the most from this addition, whether you are remodeling an existing bedroom or adding a new one. In many cases, a master bathroom will be added at the same time because of the cost efficiencies that result. The cost of plumbing and fixtures would be added to the overall cost.

 

The Bottom Line

Remodeling can include everything from adding a new room to simply updating the bathroom faucets. Before pursuing any of these options, you should evaluate the payoff of the work you plan to have done.

Other home improvements that don’t pay off well include swimming pools and professional landscaping. While many people will add these for their personal enjoyment, it’s unlikely that a majority of the cost will ever be recovered.

Before undertaking major remodeling projects, make sure you have taken care of the basic maintenance on your home. If you’re selling your home, an updated bathroom won’t do you much good if your carpets are old and worn out, or if your exterior paint is peeling. Fresh paint and new carpeting or flooring will go a long way to preserve or increase your home’s value at a relatively small cost.

 

Marc Jablon, The Jablon Team

RE/MAX Complete Solutions

JablonTeam@gmail.com

http://www.JablonTeam.com

561- 213 – 6139

 

 

Marc Jablon, The Jablon Team
RE/MAX Complete Solutions

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Marc Jablon