We are ready to remodel our master bathroom and kitchen. Where should we start?
A: This seems like a simple enough question, but it is not so simple to answer.
Every situation and circumstance needs to be looked at on its own. Everyone has their own unique reasons for wanting to remodel, from simply wanting to upgrade a space to customizing a new home purchase. There may be other reasons as well.
Reasons for triggering a remodel could include appliances failing, aging plumbing, urgent issues that need to be addressed or quality-of-life upgrades. The reasons for the remodel and the scope of work will help determine the process.
What are some things to consider in making this very big decision?
A: It is important to define what you want from the project and what the likely return on investment (ROI) will be.
Determining what the return on investment will be for your project is a tricky topic and not as clear cut as one might expect.
Typically, if you remodel and sell your home within a couple of years, you are unlikely to recoup the full cost of the remodel. The Journal of Light Construction produces an annual âCost vs. Valueâ chart. The report considers data from different regions across our country and drills into ROI for each region and its major cities.
Everyone has their own unique reasons for wanting to remodel, from simply wanting to upgrade a space to customizing a new home purchase.
Projects can be classified as upscale, mid-range, major or minor. Definitions are included in the report for you to better understand the concepts.
Here are some examples to consider.
- Bathroom remodel, a mid-range project, has an ROI of approximately 82.6%.
- Minor kitchen remodels can yield up to an ROI of 96%.
- The ROI of a major kitchen remodel is typically 51.9%.
This information can be relevant information homeowners need to consider in their decision-making. If someone wants to upgrade an old bath or kitchen to sell their home, this report indicates that it may not be a great strategy.
Over longer periods of time, the increase in your homeâs overall evaluation from a remodel may fare better.
Who will help with the design of my project?
A: Once the scope of a project has been determined, the best thing for a homeowner to do is to find a remodeling contractor who will listen and work to understand them. Through the process of asking specific questions and getting more information about how clients live in their home, your contractor can become an informed resource to help you make informed decisions.
Often, emotional reasons weigh into the decision, and it helps to have a knowledgeable designer who can create a solution that fits the homeowner.
At what point do I set a budget?
A: Setting a budget early in the process is advised.
The cost of a remodel plays a major role in decision-making. Many homeowners are surprised at the cost of remodeling a home.
It is always a good plan to know how much you can spend and keep that number as a guideline as you choose the design and products.
A comprehensive bath or kitchen remodel that includes cabinet replacement, a layout change, new lighting, flooring, countertops, plumbing fixtures and appliances can approach a six-figure range.
Points of consideration include:
- Funding source. Will you need to borrow the funds? Are the funds readily available? This weighs in on overall costs as well.
- If you are borrowing, the cost of a loan needs to be factored in. If funds are available, how you will convert long-term investments into cash also play a role in decision-making.
- Create a payment plan. A design-build team should create a timeline that provides some notion of when funds will be needed. Timing is important.
- Track your change orders. Be sure you know the price of change orders before you sign for them. They can really add up and bust right through your budget.
Should we do one project one at a time, or should we get them both done at the same time?
A: One overriding recommendation for people who want to do multiple projects is to plan both projects before embarking on either one. A master plan provides you a clear path forward and engages many facets of the construction process you will need to consider. Knowing the big picture, and all the details associated with projects, is a big part of the success of a project.
Other less obvious components of the plan revolve around the construction timeline in your home.
- Do you plan to live in your home while work is being done?
- Do you have alternatives for cooking or another bath to use during construction?
- Are other living arrangements needed?
A comprehensive planning process will help sort out these considerations.
There is a good argument for doing both the kitchen and the bath at the same time. The biggest reason is economy of scale.
- Starting costs: There are costs associated with starting a project. Starting two separate projects instead of one will cost more.
- Purchasing power: Sometimes, buying all the material needed for both projects, such as flooring, can realize some savings.
If you are going to stay in the home during construction, choosing two phases might be helpful. Having workers in your home every day, even friendly ones like we have, can be stressful. Phasing can help. Here are some points to think about:
- Clearly establish when workers will be there, and the time of day they will start and finish.
- Outline the access pathways they will take.
- Do you need to set up an alternative kitchen space? Where will it be located, and for how long?
Phasing the projects can help smooth out some of the interruptions to your lifestyle. Planning the phases is crucial before any work is commenced.
What comes first
Given all the information we just reviewed, the answer is as clear as mud. The hundreds of pieces that go into decision-making can be overwhelming for folks. It is important to find a contractor who is a trusted advisor who will engage with you. They can help you explore the hundreds of decisions and choices and help put together a plan that works for you.
