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Yep, Remodeling is Like Plastic Surgery

Let’s face it..remodeling is like plastic surgery.  A nip and tuck here leads to a nip and tuck there. So why not consider EVERYTHING you’d like to do in your home from the get go then compare that to your bottom line…what your budget allows you to spend.

You’ll need to balance the beauty of your home with the needs of your lifestyle and your budget.

Remodeling can be a smart investment…if you choose the right project.  The annual Cost vs. Value Report (www.costvsvalue.com) is a FREE resource that includes cost data, resale value and percentage recouped at sale for common remodeling projects in 80 U.S. cities. You can compare national and regional averages for over 30 popular remodeling projects (like major/minor kitchen remodels as well as master suite and family room additions, etc.). You can also download a PDF with project data for any one of 80 U.S. cities.

This report is a great resource for “sanity” checking your proposed budget.  For example, if you’ve budgeted $x for a major kitchen remodel and the job cost is along the lines of twice that much, your budget most likely is not realistic.

The great thing about this report is that it contains a written narrative for the scope of each project that will help you determine whether or not ‘bells and whistles’ like under cabinet lighting or custom cabinets are really that important to you and how much to budget for a similar project.  Once you’ve determined how much your project would cost to remodel/build, I recommend considering other costs that are typically overlooked so you’ll have an idea of the REAL cost of remodeling and can budget accordingly.  I’ll discuss these costs in my next post.

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