When you’re considering a remodel of your Rochester-area home, you have a lot to think about. You may be wondering if it makes more sense to buy or build a new home or remodel your existing home. Or If you’re thinking about a kitchen remodel you may be wondering what features you really want in your dream kitchen. No matter what you decide to pursue, one thing you’ll want to do is measure the cost before you begin.
There are a number of ways to look at—and evaluate—the cost of a Rochester-area remodel. Let’s look at a few.
What Impacts the Cost?
Not all remodeling projects are the same. As a result, you can spend different amounts to get what you want. Here are some of the things that will affect your final cost.
- Size and Scope: It may seem obvious, but the size and the complexity of your project can have a dramatic impact on your cost. Simply refurbishing or replacing cabinets and flooring in your kitchen is one thing. If you choose to expand your kitchen, that may involve moving walls and other things such as changing plumbing and electrical service. Here’s a post that helps you get a grip on the scope of your project.
- Materials Matter: The kinds of materials you choose for your project will also affect your cost. Granite or quartz countertops cost more than Formica countertops. They may also deliver more value (they look better and will last longer). But you have to be aware going into the project that they will impact your price. Here’s an article that can help you balance cost vs. value when remodeling.
- Customization Costs: The more customized your remodeling project in, the more you’ll pay. Using standard sizes and angles is less expensive than going for unusual sizes and shapes. You’ll pay a higher price for both materials and labor. That may be worth it to you. If it’s really what you want and you can afford it—it may be the right choice. If you’ll be perfectly satisfied with a more conventional design, you probably won’t want to pay more.
Consider Resale Value
While your main concern should be to create a home that’s comfortable and convenient, you’ll want to keep resale value in mind. It’s important to look at your overall return on investment (ROI). Not all remodeling projects have the same kind of ROI. Here’s a look at the kind of return you can expect from some typical projects according to the Remodeling 2018 Cost vs. Value Report (www.costvsvalue.com).
|Type of Project||Percentage of Cost Recouped|
|Midrange Bathroom Remodel||35%|
|Midrange Major Kitchen Remodel||38.1%|
|Midrange Minor Kitchen Remodel||56.5%|
|Universal Bathroom Design||38.9%|
|Manufactured Stone Veneer||63%|
As you can see, some projects hold their value more than others. You can visit www.costvsvalue.com for a look at specific descriptions and pricing for each of these projects to get an idea of what you can expect to spend. It’s also important to keep in mind that even though you may not recover everything you spend when it’s time to sell, you’ll still enjoy the benefits in terms of comfort and convenience while you live in your home.
Begin With a Budget
One thing that's really helpful in keep costs under control is, to begin with a realistic budget. Make sure you understand what you can really afford. Then take a look at what you can realistically get done for the money you're comfortable spending. Here’s an article that can help you avoid budget missteps when planning.
It’s great to look at ideas and designs online to come up with a plan to make your Rochester home even better. But make sure you measure the costs before you jump into the remodeling process.