How Much Does a Remodel Cost?

September 16, 2009

About once to twice a week I find a blog asking “How much?”  How much is a bathroom remodel?  How much is a kitchen remodel?  How much to finish my basement?  And this is best answered with… how much is a car?

It depends.  What are you trying to achieve?  What products do you like and in what finishes?  What are you looking for in a designer or contractor?  People who are practicing their craft are often less expensive upfront than the seasoned professional.

Unlike the car industry, the remodeling industry doesn’t have factory set standards and internal quality control.  There is no government instituted lemon law for a botched remodel.  It is our hope that companies who are affiliated with professional groups like NARI and NKBA are playing by the “best practices” standards and their pricing should reflect that.  When you purchase a $10,000 car it is an economy vehicle, $30,000 is a mid range and anything above $60,000 is luxury.

My point is this; I could say a modest bathroom remodel is about $30,000.  But your bathroom is 5×7, $30,000 would be a bit luxurious… while $30,000 in a 12×20 master suite would not go far.  And to make matters even worse, your location also determines your investment figure.  People who live in New York city are going to pay a lot more for a kitchen remodel than someone who lives in Sandwich, IL.  Labor is more expensive in New York because the cost of living is higher.  Not to mention working in a high rise is more expensive than working in a home.  Just unloading tools and materials can take half a day when working in a high rise.

So, for a true idea on how much to expect your remodel to cost you, stop blogging.  Most of the people who will answer you don’t have a clue – even if they are professional remodelers, they don’t know your space.  Call a few local contractors.  Give them the same detailed description of your space and what you would like to do with it.  A veteran in this business will be able to give you ball park figure (ie. “Expect your bathroom to start at about $15,000.”)  For a more definite estimate, have them out to your home.  The Better Business Bureau recommends starting out with three bids on your project.

But you say that you don’t want to be completely in the dark before you pick up the phone.  You would rather suffer sticker shock in private.  Then the best place for a jumping off point is Remodeling Magazine.  Every November they put out an issue called “Cost vs. Value.”   This annual survey not only shows you the approximate cost of a particular remodel in your region of the US, but it will also tell you what kind of return you could see if you were to sell your home after the remodel.  You can find this information on their website: http://www.remodeling.hw.net/remodeling-market-data/remodeling-cost-vs-value-report-2008-09.aspx .

If you are improving your home with the intention to sell, remember that low-cost, low-maintenance improvements are where you are going to see the greatest return for your money.  However, most of us remodel our abodes for ourselves; it is about investing in our happiness at home.

Written by Imperial Kitchens and Baths, Inc. designer, Stephanie Bullwinkel, CBD.

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One Response to “How Much Does a Remodel Cost?”

  1. Truly actually very good web site article which has got me considering. I never looked at this from your point of view.

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