Just How Much Will that New Bathroom Cost Me??
bu Bonnie and Terry Westbrook
It is spring and the home improvement train is chugging along.
Especially for people that are staying in their home, by choice
or economic necessity. A home improvement project can be top on
the list of things to do. So, how do you determine if it is a
cost that is reasonable for your budget or even a smart thing
to do? Wouldn’t it be nice to have a ball park figure before
you call the contractor.
As usual, the web is here to help you.
HGTV has a Local Cost estimator for home improvement projects
that will estimate a project in your local area. Costs do vary by
location, so remember this is just a guess-timate. If you want
marble tile or $500 faucets, the cost of your new bath can
escalate quickly.
Here is another site that might be helpful in your process of
home improvement decisions. The DIY Network has a remodeling
Budget Estimator that covers frequently asked questions. It
is always helpful to get as much information as possible to aid
in your decision making process.
Viewing these home improvements from a Realtor’s viewpoint,
some projects will make your home more attractive but will they
make it more valuable to a buyer? Check out Realtor Magazine’s
Cost vs Value 2008 Report
to see if that new bath will add to the value of your home before
you spend your hard earned money.
It might be worth while to you as a family no matter what the
payback if you sell your home in the future. It might not, too.
For example, if you know that your job will probably be
transferred in a year or two, do you really want to put $40K in
a new bathroom? Will you get any payback for this when you
sell?
The Top Five Remodeling Project Paybacks:
1. Upscale fiber cement siding (86.7%)
2. Midrange wood deck (81.8%)
3. Midrange vinyl siding (80.7%)
4. Upscale foam-backed vinyl (80.4%)
5. Midrange minor kitchen remodel (79.5%
Exterior projects that improve curb appeal are leading the list.
What will your home improvement project be this summer?
Westbrook Realty ~ Grand Rapids Michigan
Copyright 2009 All rights reserved
