“How much is all of this going to cost?” and “Will I make the money back?”
These are probably the two most common questions we hear from clients. And they are good ones. After all, how can you plan for a remodeling project without having a budget number in mind? And if you’re planning to sell the home anytime soon, you’ll want to know if the time, effort and expense will be worth it.
The total cost is going to be highly dependent on the size and scope of the project and the materials selected. In the Chicago area, a major kitchen remodel can cost as much as $65,000, according to the Remodeling 2015 Cost vs. Value Report with upscale remodels climbing even higher. Using the same report, minor kitchen remodeling in Naperville may cost only $19,000-$20,000. Bathroom remodeling is another popular project. While additions can run up to $50,000 in Chicagoland, bathroom remodeling in Naperville averages around $17,000.
As for making your money back; you can recoup anywhere from 60%-80% of these remodeling costs in the form of added value to the home. Much of it depends on what you do and your local market. The remaining percentage can be recouped from your own enjoyment of your new kitchen or bath.
To understand these costs, we’ll take a look at where the biggest expenses are and what you can do to stay within budget.
As a general rule of thumb, plan to spend 80% of your budget on materials and 20% on labor. The largest expense in kitchen remodeling in Naperville homes is cabinetry. Cabinets alone can comprise 30% of your budget. Appliances follow at 15% of the budget. Countertops account for 10% and flooring is about 7%. The remaining costs are divided between lighting, doors and windows, plumbing, walls and ceilings.
If you are on a tight budget, keep these percentages in mind when planning your kitchen remodeling. Naperville builders can give you some ideas for saving money on your project like resurfacing cabinets or replacing doors and hardware but leaving the frames in place. You can also shave some costs by paying attention to your appliance selections. You might be able to save some money by purchasing a suite of appliances rather than buying them piecemeal. You can also save money by purchasing last year’s models or foregoing all the bells and whistles. Finally, don’t be afraid to tackle some of the work yourself. Demolition can be done yourself as can painting.
The biggest factor impacting your bathroom remodeling costs is the size of the bathroom since the size of the room dictates the size of the fixtures. Fixtures include anything from tubs and shower stalls to sinks, toilets, countertops and vanities as well as flooring and lighting. When you think about it, there are a lot of individual components that make up a bathroom! Costs go up if you decide to change your floor plan since that will likely involve changes to the plumbing structure.
One good thing about having so many different fixtures in the bathroom is that it gives you a lot of control over the costs of bathroom remodeling in Naperville. Perhaps you want to splurge on a walk-in shower and opt out of a tub altogether. Or maybe you love your tub time and want to maximize space for a Jacuzzi. The point is, with so many individual fixtures involved in a bathroom remodel and so many product choices and price ranges in the market, you have a lot of control over where you spend your money and where you save. Another way to save on bathroom remodeling in Naperville is to consider a face-lift instead of a full remodel. Update lighting, mirrors, flooring, and paint colors and keep your old sink, tub and toilet in place.
Builders are a great resource that can help you manage your costs and still get your dream kitchen or bath. It’s our job to make your dreams a reality and we are happy to share our knowledge and experience with you to make it happen. With a little creativity we can make your budget work and your home shine!
Visit Synergy Builders at www.synergyhomeremodel.com to learn more about kitchen and bathroom remodeling in Naperville.