Cost vs Value – The ROI of Kitchen Remodels in Columbus, Ohio

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The Cost vs Value series on Hanley Wood Remodeling provides some interesting data on the potential return on investment on various popular home remodeling products. Their 2015 data gives homeowners the resale value of remodeling projects figured into the sale price at the time a house is sold. Back in 2014, we explored the data for ROI for kitchen remodels.  Today, we’ll be looking at the 2015 data for the Columbus, OH market and see how it compares.

 

The projects in the Cost vs Value report are separated into midrange homes and upscale homes. While the price range isn’t specified, from the cost of the projects, you can get a fair idea of what sort of homes they would be done inside. In mid-range homes, for major kitchen remodels, homeowners spent an average of $56,500 and recouped about $34,000 at resale. This comes out to a 60.5 percent ROI. With minor remodels, about $19,000 was spent, but as much as $12,500 was recouped later at resale, a 65 percent ROI. In upscale homes, there were only major kitchen remodels mentioned. On average, an upscale kitchen remodel cost upwards of $113,000, but only recouped about $54,000 for an ROI of about 48 percent. These ROI numbers are all much lower than the 2014 data showed.

 

So what did these remodels involve? A midrange major kitchen remodel typically remodeled an outdated kitchen of about 200 sq. feet. It also included a 3 x 5 island, laminate counters, and energy efficient appliances. The cost also included resilient flooring and finish such as paint, trim, and ceilings. Upscale major remodels were similar, but upgraded to high-end custom cherry cabinetry and stone countertops. They also included commercial grade appliances, and other luxury items such as built-in warming drawers, trash compactors, designer faucets and built-in water filtration systems.

 

A minor remodel would involve simply updating a functional kitchen by keeping the cabinet boxes in place. They would then replace the fronts with new raised-panel wood doors and drawers, plus new hardware. The wall oven and cooktop would be replaced with new energy-efficient models. Existing laminate countertops would be replaced with new ones, a new mid-range sink and faucet, a new coat of paint, wall coverings, and new similar flooring.

 

What can we take away from this data? It seems that people are generally happy with their kitchen’s functionally, but need an updated look and feel. The upscale remodels tend to be gut jobs and focus on installing high-end cabinets, counters, and gadgets. From a financial perspective, it seems that the midrange remodels recoup more ROI in home resale value, especially the minor remodels. But for upscale homes, the major remodels are likely worth the emotional value of creating a hub for family time and gatherings with company.

 

In any remodel, it’s important to consider the value that a remodeled space provides you and your family and friends. The financial benefits of a remodel should be always considered an extra benefit. The kitchen is such an important part of a home that the numbers may not fully reflect the actual value to a potential buyer down the road. The numbers definitely can’t portray the full value of your newly remodeled kitchen to you and your loved ones, either. No matter what your budget, an updated kitchen is definitely worth pursuing.

Cost vs Value – The ROI of Bathroom Additions and Remodels in Columbus, Ohio

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Worthington Ohio Master Bathroom Remodel

The Cost vs Value series on Hanley Wood Remodeling is a good resource at figuring out the potential return on investment on various popular home remodeling products. Their 2015 data gives homeowners the resale value of remodeling projects figured into the sale price at the time a house is sold. Here is the 2015 data for the Columbus, OH market. Today, we’ll be looking at the return-on-investment (ROI) of bathroom additions and remodels.

 

There are two categories of projects, those in midrange homes and upscale homes. In midrange homes, for both bathroom additions and bathroom remodels, homeowners found a 60% return on investment when they sold their homes. With upscale homes, both projects only recouped about 51 to 52 percent ROI.

 

The typical bathroom addition in the Columbus, Ohio metro cost about $40,000 and increased the average home’s resale value by about $24,000. On average, this addition involved building a full 6 x 8 foot bathroom over a crawlspace with poured concrete walls. Many of these bathrooms included cultured-marble vanity top with molded sink and standard chrome faucets. They featured 30 x 60 inch white fiberglass tub & shower with ceramic tile surround. Other features include white low-profile toilets, general & spot lighting, mirrored medicine cabinet, linen storage, painted trim and vinyl wallpaper. It also included electrical work bringing the home to code.

 

A typical bathroom remodel in Columbus, Ohio cost between $16,000 to $17,000 and recouped about $10,000 at resale. On average, this remodel was for an existing 5 x 7 foot bathroom. It includes replacing all fixtures with new tub and a tile surround. This average bathroom also gets a new standard white toilet, a solid-surface vanity counter with integrated sink, recessed medicine cabinet with light, a ceramic tile floor, and vinyl wallpaper. While your bathroom remodel doesn’t need to have these exact options, it shows what the typical remodeled Columbus, OH bathroom included. It also shows that the remodeled bathrooms do not include the same high-end features as many bathroom additions.

 

In upscale homes, bathroom additions cost about $75,000 to $76,000 and recouped about $40,000 at resale. Typically, they were 100 square foot master bathrooms attached to an existing master bedroom, usually over a crawlspace. These master baths would include larger shower stalls, customized whirlpool tubs, commode area, custom cabinets, and heated floors. Upscale bathroom remodels cost about $54,000 and recouped about $27,500 in resale value. They involved expanding an average 35 square foot into one about 100 square feet within the home’s existing footprint with similar features to the master bath additions.

 

What can we learn from this information? It shows what options are popular for bathroom additions and remodels in the Columbus market. The data also shows that your typical bathroom remodels all have essentially the same percentage of ROI, but less so in an upscale home. Basically, it’s a fairly good investment to add or remodel a bathroom. Truthfully, any home remodel should be done for the functional and emotional value to you and your family. Any costs you can recoup in your home’s eventual resale value are just an added bonus.

6 Design Ideas for 2017

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Is one of your New Year’s resolutions to finally tackle some of the home improvement projects you’ve been looking at? This is a great time to consider any size project as home improvement stores try to clear out material to make way for the 2017 stock. Whatever style or trend you are interested in, here are six design home ideas to consider in 2017.

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Contrasting Islands

If you have an island, why not use it to accent the entire kitchen? After all, it really can become a dominating element to the room. By utilizing a contrasting island look, you can use a lighter counter top and a dark base. Doing so instantly adds interest to the island, not to mention having a dark base can help cover up any scuffs or shoe marks common with an area under a table top.

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Kitchen Entertaining Hubs

A beautiful kitchen is also a great way for entertainment. After all, it is where people come to gather, whether they are waiting for you to finish dinner or just hanging out after working on the yard. If you have some space along a kitchen wall putting an entertaining hub is an excellent investment. You can place an extra wet bar sink here, a small fridge under the counter with soft drinks or have other beverage and food prep right here.

 

Dublin Ohio Kitchen Remodel

White and Wood Kitchens

Tile and laminate have long remained the go-to flooring option for kitchens. However, with how modern wood flooring is treated, it now can handle not only the foot traffic but the spills and drops common to kitchens. The combination of wood used throughout a kitchen and white can help brighten the room. It puts all the attention center stage onto your beautiful meals.

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Walls of Tile in Bathrooms and Kitchens

Instead of using just a back splash or tiles around only a tub, take the tiles all the way to the ceiling. It keeps a unified look and looks beautiful in both kitchens and bathrooms.

Hanging Chairs

Who doesn’t love a great hanging chair outside? Why not bring that magic inside? Best of all, these hanging chairs add extra interest while making it easier to vacuum around it.

Amped-Up Coffee Stations

Say goodbye to the boring Mr. Coffee pot and say hello to an amped-up coffee station. Instead of splurging on coffee before heading out to work why not make better tasting coffee at home? Add a warming drawer for mugs and you’ll really have the chic coffee shop feeling to it.

How Much Does a Remodel Cost, and How Long Does It Take?

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A Home Improvement project can be exciting when families transform old rooms into new spaces designed for spending time together.  A place to gather each day before work or school, or a place to enjoy special occasions such as parties or Holidays.

Home Improvement may also be necessary and inevitable, especially if you are going to live in your home for several years.  Choosing the right remodeling company and figuring out a reasonable budget is the first step in getting it right the first time.

Houzz has recently released a great article entitled “How Much Does a Remodel Cost, and How Long Does It Take?” which has sparked a lot of interest from both Homeowners and Professional Remodelers. The study doesn’t actually answer the question, but rather gives some insight into other Remodeling Projects.

 

Crunching the Figures

Houzzers Tell Us How Much It Cost, and How Long It Took

Even before digging deeper into renovations, it is important to understand what the statistics say. According to Houzz, 31% of homeowners take on renovation project without a pre-set budget. Another 31% exceed the budget with only 3% coming under budget. This only leaves us with a meager 36% that stay on their budget.

Looking further into the figures, it was discovered that the average money by homeowners with no budget is $44,100 while $52,300 was the average spent by homeowners who stay on budget. Those who exceed their budget spend an average of $83,400.

So, How Much Is The Cost?

The cost of home remodeling cannot be stated without looking into the factors that determine it. The very first one is the cost of the work that needs to be done. Another factor that is worth noting is the section of your home that needs to be renovated. Ideally, many home remodeling projects cover the bathrooms and the kitchen and this demand alone is enough to put the remodeling costs of these sections high above the other sections of the house.

It is also seen that the materials and technology used in the process also dictate the cost. For example, the cost of remodeling a hardwood floor is significantly different from that of a tiled one, and so is the case with a tiled roof against other types of roofs. Generally, the higher the cost of the material used, the higher the remodeling cost.

So, What’s The Duration?

As a homeowner, you want your home remodeling process to be carried out within the shortest time possible. Just like the cost, the duration of remodeling your home will be closely dictated by the scope of work and the more the work, the longer the time it takes. You may also find the size of your house as another factor to determine this. A smaller house tends to be renovated much more efficiently.

We’re Here to Help.

At Scott Hall Remodeling, we employ a systematic process to budget – design – plan – schedule – deliver – and warranty your project. It’s called Design Build. Design/Build is a proven philosophy of delivering construction projects in which the Contractor is the Project Leader and a single source of accountability to the homeowner. Design/Build, when carried out by a skilled and experienced team like Scott Hall Remodeling, provides the highest level of satisfaction and value to the homeowner.

Contact us today to learn more.

Remodeling Your Home For Your College Student

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Is your college student needing a place to stay during summer break? You may have already considered remodeling your basement to give him or her somewhere to stay. If your college student is staying home on a more regular basis, such as going to a local school, you can help your student save a lot of money on room and board costs. How far you want to go with your basement remodel is up to how much time you expect your student to be staying with you.

Extra Bedroom and/or Bathroom

Perhaps you were already considering adding an extra bedroom or bathroom in your home. Here’s the opportunity to do so, all the while improving your home’s overall value. Keep in mind that to have a “legal” bedroom, you need to be sure that the room has a closet and a window that can be considered a proper egress point under your local building code. Interestingly, bathrooms do not have that restriction. An added benefit to having these extra rooms is so your college student can have a more private place to live during the day or night.

A Quiet Place to Study

While the local or school library is good for some students, others will want to study in the privacy of their own home. It’s actually not uncommon for college students to want to hang out in the basement where they won’t be distracted by the other goings on in the home. Alternatively, this space can also serve as a hangout for friends. Your college student is now an adult and wants to be treated like one with more privacy. Having a basement retreat is the perfect way to do this.

Full Blown Apartment

If your student is home on a regular basis commuting to a local school, it may be worth creating a whole apartment unit in your basement. This would include adding a small kitchen or kitchenette along one wall. This way if your college student has a schedule that conflicts with family mealtimes, you don’t have to worry about him or her clanging around in the kitchen when everyone else is trying to relax or sleep. It also gives you the option to later rent out the space, whether it’s for your student, a relative, or friend. You may even consider adding a separate access to the basement entirely so that your tenant, whether it’s your student or not, can enjoy an added layer of privacy.

Many college students still choose to move away for school. But with the rising costs of higher education, more often students are going to school locally for at least their first two years of school. By offering your basement as a safe haven, you will know where your child is staying. Also, you’re also saving a lot of money in the long run, especially if you’re picking up a big part of your student’s educational tab. The money you put into your basement will be made back by the room and board savings alone, and the improvements to your home will benefit you and your family for years to come..

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5 Great Ways to Enhance Your Kitchen

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Is your kitchen too plain? Maybe it has a theme but needs sprucing up. If you need to enhance the look of your kitchen, there are many great options out there. Here are five great ways to enhance your kitchen.

Stylish Backdrop

Looking to add visual interest to your kitchen? You may consider adding a stylish backdrop. Some people choose to spend as much on backsplashes as countertops. But you don’t have to spend that kind of money to be stylish. In fact, you can even use leftover remnants of countertops for that purpose. There are also many materials that cost less than you think. It’s a quick way to update the look of your kitchen.

Unique Flooring

With a focus on being more environmentally friendly, there are many recycled flooring options available today. This allows for some very unique flooring choices. As long as it’s durable and affordable, you could do something out of the ordinary. Ask your contractor for suggestions of what creative flooring materials may fit into your budget.

Waterfall Wall

You can have a great kitchen, but then have a blank wall that you’re not sure what to do with. If you have the plumbing in that wall to do so, you may consider turning it into a waterfall wall. This can be appealing to guests and relaxing for everyone. Imagine having a quiet family dinner to the sounds of rushing water. You also may have a social gathering in which a waterfall would be a grand background for entertaining.

Farmhouse Sink

Ever wanted a huge sink? It turns out that a lot of people do, and a lot of people have chosen to add classic farmhouse sinks to their kitchen. While some people prefer more contemporary double sinks, a farmhouse sink is a fashion statement. However, the large size can be advantageous for washing large items or when cooking certain meals. If you really need the second side you can always add a second basin for when you need it.

Open Concept Design

One of the main reason that homeowners remodel their kitchen is because their current kitchen feels too cramped. Even with a small kitchen, having an open concept design can do a lot for the utility of your space. It’s amazing what knocking down a wall can do. One common solution is to combine the kitchen with a traditional dining room to create one larger kitchen area. Even smaller homes can add surprising amounts of usable space by adopting an open concept throughout the home. The kitchen is the best place to do just that.

These five ideas are only the beginning when enhancing your kitchen. You may be trying to make it stand apart for style reasons or just looking to get better function from it. Either way, there is good reason to put a lot of thought into your kitchen. It’s a central part of your home. Properly budgeted, a kitchen remodel can transform your home in ways you can only now imagine.