Remodeling Your Home By the Numbers
April 26, 2010 by Stef Lukas · Leave a Comment
What should you remodel? When you’re ready to nail down your plans (so to speak), here are some suggestions from the industry experts
Maybe you’ve been feeling the need for more space, less space or just different space. You’ve been wondering which solution will give you what you want with the least financial hit? Here’s one gauge to use: Expect moving to cost about 10 percent of your home’s current value. If your remodel project can be done for less than that, stay and do it! But, plan it with an eye on the potential resale value.
Read on for ideas and tips that will help you take the lead in plotting your home remodel.
KITCHEN
Add usability with dual sinks and cooking stations. Add aesthetics with commercial-quality, stainless steel appliances, stone or stainless steel countertops and ceramic tile back splashes. Add space with a breakfast nook or walk-in pantry. Add livability with a computer desk, mudroom or hobby area.
BATHROOM
Add light with skylights and glass blocks without losing privacy. Add space with a walk-in dual shower, vaulted ceiling, recessed medicine cabinet or a curved shower curtain rod. Add functionality with twin sinks or vanities. Add aesthetics with ceramic tile or stone flooring, stone countertops, heated towel bars and floors.
SIDING
Remodeling the exterior is as much about maintenance as it is about curb appeal. Vinyl siding looks fresh and tidy year after year with minimal upkeep. With stucco siding, a new polymer covering can be sprayed or troweled onto a fiberglass mesh base.
WINDOWS
New windows will help you realize additional savings in monthly utility bills. Prospective buyers view windows as they do other structural items, so failing to update old ones may affect potential offers. Newer styles include seamless bent-glass corner windows, curved glass and casements with no centre stile.
ADDITIONAL HOME VALUE
In addition to making it more livable, remodeling can also make your home more valuable. According to the Appraisal Institute of Canada, your remodel investment dollars pay back at different rates when you sell your home, depending on the type of project you choose.
Using some sample job costs, here is the estimated return on various remodeling projects:
