The answer to this question depends on your priorities and the type of home renovation. For example, a kitchen remodeling job might not be worth a $60k or $20k investment if you plan to sell your house in two months. On the other hand, a $5,000 kitchen renovation can increase your home’s value and attract more buyers. In this article, we’ll explore three important factors when deciding whether to avail of services for kitchen and bath remodeling St. Louis, MO.
Cost
The cost of kitchen and bath remodeling varies from home to home, but the general average for a basic remodel is around $10,000. Labor costs typically comprise 20% to 35% of your total budget. You can lower this cost by doing some DIY work yourself. You can also consult home improvement videos on YouTube for ideas. Generally, kitchen remodels are done in phases so you should keep the layout of the current kitchen as much as possible.
For example, relocating your appliances to give them a different look may require relocating your water supply, drain, and sewage lines. Relocating these pipes can cost as much as $1,100. You will also have to pay for additional labor and hire a plumber. The work may also require a city permit, which can cost another $800. While these steps may seem easy, they are time-consuming and can add up quickly.
ROI
Homeowners who remodel their kitchens and bathrooms enjoy relatively high returns on investment. In fact, it is estimated that a typical kitchen or bath remodel can generate a Return of Investment (ROI) of 80.5% to 70.1%. However, maximizing your return on investment requires that you cut down on upfront costs while still maintaining a high level of quality.
Materials for kitchens and baths also influence costs and ROI. Granite countertops can cost up to $100 per square foot, while maple is about half the price. Exotic hardwoods are more expensive than maple, and they take longer to source. Expensive appliances may reduce your ROI, as buyers are likely to replace them in the near future. And don’t forget to consider the overall cost of the project when determining ROI. Wood-look flooring is easy to maintain and durable.
Labor costs
Most homeowners will be surprised to find out that the total cost of a kitchen and bath remodeling project can run anywhere from twenty to thirty percent of the budget. It’s easy to reduce these costs, however, by taking on some of the work yourself. Many people are handy enough to complete some kitchen projects without hiring a contractor. You can find numerous how-to videos on YouTube, which will guide you through the process. In addition, you can save money by performing tasks yourself instead of hiring a contractor.
The labor costs for kitchen and bath remodeling projects are based on the average square footage of the space. If you’re planning to add additional storage space, upgrade your appliances, or knock down walls, these remodelers will charge a higher rate. But be careful – knocking down a wall may result in structural damage if you don’t know where to put it back up. Larger projects cost more because of their square footage. For a twelve-by-12-foot kitchen, labor costs run from twenty to thirty-five thousand dollars.
Extensive remodels
While upscale bathroom designs are all the rage, they can be quite expensive. Expensive features may include stone flooring, luxe faucets, and even super-quiet humidity-controlled exhaust fans. One bathroom remodel can run up to $87,000, and more expensive ones may include dual vanities, a freestanding soaking tub, and a glass-and-onyx shower. Then again, the price tag might seem a bit high, but you will probably love the results in the long run.
The average cost for a bathroom remodel in the Boston area ranges from $27,000 to $82,000. In Boston, a simple cosmetic update will cost you around $30,000. It’s important to remember that the price you pay for a kitchen remodel might be higher than the cost of an entirely new kitchen. However, if you plan to sell the house, you can keep the price down by using mid-range materials.
Budgeting
There are many factors to consider when budgeting for kitchen and bath remodeling. For example, kitchen cabinets can cost as much as 20% of the total remodeling budget. Countertop materials are another 10% to 30%. Floor coverings, paint, and drywall should also be included in the budget. Electrical work and plumbing fixtures will also cost between 5% and 10% of the total remodeling budget. You can also consider purchasing appliances that will save you money on the overall remodeling cost.
Older homes may require plumbing rework. The pipes and drains in the old house may have become corroded and are no longer working properly. Replacing outdated fixtures may not be a huge expense, but new fixtures will make all the difference in your kitchen remodeling project. A drop-in sink with built-in soap dispenser will be a nice addition to any new kitchen. The cost of new kitchen fixtures can add up, so make sure you budget for these items.
