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Remodeling Sticker Shock
Help for
Homeowners
Some
homeowners who have never remodeled
their homes suffer from a common affliction called “sticker shock.”
They want to remodel the bathroom or kitchen, add a room, or maybe
upgrade the deck, but they have no idea how much home improvement
projects cost. When they receive the preliminary proposal,
they're quite surprised, to say the least.
In the
case of a room addition, a few homeowners may do a quick
mathematical calculation based on the price they paid for their
homes. Unfortunately, that method doesn’t work because the cost to
remodel is greater than the cost for new construction based on
square footage. Another misconception that homeowners have is that
because the country is experiencing economic recession, home
renovation costs have declined. Oh, if only that were true. The
cost of materials has not decreased and in many cases, it has
increased. Take, for example, the cost of a 2” x 6” x 12’ pressure
treated board. The price for a single board has increased from
$5.19 in April 2008 to $7.97 in January 2011, a 54% increase. As
far as labor costs for remodeling go, larger discounts are
available from independent contractors than from remodeling
companies who have greater overhead costs to maintain.
What does
all of this mean? Homeowners who are budget-conscious may have to
adjust their “Wish List” when it comes to planning their home
renovation project. For example, instead of using brand name
fixtures or hardware, the generic ones may be the better choice.
(Where there’s a will, there’s a way. Don’t give up.) The bottom
line is this - homeowners who love their homes and their communities
should move forward with remodeling projects that make them happy,
projects that are beautifully designed and increase functionality.
Take a typical bathroom remodel
in a home owned by “boomers” or members of the older, wiser
generation. The bathroom contains a white fiberglass tub/shower
unit, a low-rise toilet, low-rise cabinetry with a laminate top, and
older-model circular faucet handles. The homeowners love their
neighborhood because it’s close to shopping, entertainment, family
and friends. They don’t want to move, but they must plan for the
future. How can they prepare for the coming years when mobility may
be diminished? They can remodel the bathroom by changing the
tub/shower unit to a walk-in shower with a bench seat tiled with
beautiful Travertine, by replacing the low-rise toilet with a
high-rise one, by installing taller European cabinets with granite
countertops, and by replacing the faucet handles with lever style
handles. By combining these improvements with new flooring and
paint, this bathroom will go from “blah” to beautiful, while making
life easier for the homeowners.
The
big question
now is, “How much is this gonna cost me?” “Sticker shock” can be
painful so avoid it, if possible, through education. A good place
to begin is Remodeling Magazine’s
Remodeling Cost vs. Value Report 2009-2010 published by Hanley
Wood, LLC. In this report, estimated costs for different types of
home remodeling projects in various areas of the country are
compared to the amounts homeowners can expect to recoup from their
investment of renovation dollars when they sell their homes. This
report is free and provides valuable information, such as estimated
costs for a variety of home remodeling projects. Another way to
find out about home remodeling costs is to talk with family or
friends who have remodeled their homes recently. With some starting
figures in mind, call a state-licensed general contractor to provide
a cost estimate based on detailed specifications. Keep going. Get
at least one or two more estimates for comparison. For any
homeowner who is willing to take these steps, the benefits will be
worthwhile – no pain from “sticker shock” plus a beautifully
remodeled home to be enjoyed for years to come.
For all
types of home remodeling or commercial tenant finish projects,
contact HWC Construction, your full service Residential/Light
Commercial general contractor, professionally licensed in the state
of Georgia.
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