If you have been living in your home for ten years or more, chances are you are comfortable and happy in your home and have invested plenty of money in it by paying for the mortgage, maintenance, and improvements. It is common even for families and homeowners that love their current homes to eventually outgrow a certain area of their home or for an area, such as the bathroom or kitchen, to become impractical to the changing lifestyles of you and your family. Remodeling services present the perfect opportunity to upgrade an area of your home like the kitchen or bathroom without leaving the house where you have invested so much time and money. Kitchen remodeling and bathroom remodeling projects are among the most common remodeling projects done and they can each add significant value to your home. However, it is important to keep in mind that you get what you pay for and taking the cheapest route to a new kitchen or bathroom may not be the best idea.
Kitchen Remodel Cost and Benefits
Kitchen remodels are multi-faceted projects because of the different materials and appliances involved and they can be approached in several different ways. You can do what is considered a minor kitchen remodel in which a few appliances and other components are replaced but the basic floorplan and design of the kitchen is left intact or you can do a complete overhaul of the design and contents of the kitchen with what is considered a major kitchen remodel. The kitchen is a major factor in determining the overall value of a home so spending a little more on quality remodeling services and materials will ultimately increase the added value of the project.
According to remodeling.hw.net, a minor midrange kitchen remodel can add over $13,500 in home value in the Chicago region while a major midrange kitchen remodel can add over $35,000 to the home value for an ROI of 61 percent. Upscale major kitchen remodels add almost $61,000 to the home value on average for an ROI of 53 percent. No matter how you look at it, the higher the kitchen remodel cost, the higher the amount of money in added value to your home. We understand that homeowners still have to work within a realistic budget when planning for a kitchen remodel and our home designers at Patrick A. Finn, Ltd. can help you maximize your budget and plan a kitchen remodel that will yield the highest return on your investment.
Bathroom Remodel Cost and Benefits
The bathroom is another commonly remodeled area of the home but unlike the kitchen, bathrooms are generally given full instead of partial remodels. When planning for a bathroom remodel, you must take the cabinetry, flooring, and fixtures such as the sink, toilet, and bathtub or shower into account as each component factors into the added value of the project. The home designers at Patrick A. Finn, Ltd. can help you choose materials for your bathroom remodel that will add the maximum value to your home while remaining within your budget. We work with many preferred vendors to get quality materials for our bathroom remodeling projects.
The average added resale value for a mid-range bathroom remodel in the Chicago region is just over $10,000 according to remodeling.hw.net for a return on investment of about 60 percent. Upscale bathroom remodels add over $29,000 in home value for an ROI of 53 percent. Much like with kitchen remodels, bathroom remodels bring more in home value the more you spend on the project. Our home designers can help you find ways to get the most out of your budget when planning a bathroom remodel to get the most added home value.
If you have no desire to leave your home but would like to upgrade it with a kitchen or bathroom remodel, spending more for quality services and materials will ultimately lead to more in added home value. Getting cheaper materials for a remodeling project will not only bring less in added home value, but they will also wear out or break down much quicker and cause the room to need to be remodeled again. Contact Patrick A. Finn, Ltd. and talk to one of our professional home designers about your ideas for a remodeling project. We can help you create a design and find materials within your budget that will bring you the highest return for your investment.