Prioritizing Your Renovation Budget

Renovation, Budget, Design, Remodel, Kitchen, Bathroom, Cost, Carthage, Granite, Cabinets

 

Time to Tackle the Wish List

 

Unless you’ve just moved into a new, custom-built home, then you’ve probably got a list of renovations you’d like to tackle. They may be minor, cosmetic changes. Or, perhaps it’s a longer wish list that you’ve been compiling for years. As the list grows, it can get overwhelming when it’s time to prioritize the to-dos. In what order should you tackle those remodels? How do you determine the value of one project over another?

It’s true, picking the next project is stressful, but some tried and true guidelines do exist to help you through the process. Assessing your individual situation can narrow down the selection and make the right choice more obvious. Let’s look at some criteria when it’s time to remodel.

Function First for the Budget

 

Though beauty and aesthetics are pleasing to the eye, it is first necessary to get your house operating in tip top shape. True, this is not as fun as the “pretty stuff,” but you will reap the benefits for years to come. Even if you do not intend to sell your house anytime soon, it is prudent to address the mechanics of your house before the cosmetics.

 

Primary Items to Consider with Your Budget

 

  1. Heating and Air Conditioning Units

  2. Roof Repairs or Replacement

  3. Energy Efficient Windows and Doors

  4. Siding Repairs or Replacement

  5. Foundation Repairs

This is not an all-inclusive list. You’ll need to address the problems that are plaguing your house specifically. Perhaps you’re facing some unfortunate termite damage or a situation that requires mold remediation. Resolving matters such as these are imperative to maintaining your home.

Renovation, Budget, Design, Remodel, Kitchen, Bathroom, Cost, Carthage, Granite, Cabinets

 

Are You Selling?

 

The next determining factor in your decision-making process will be whether you’re remodeling to sell. If so, then you’ll want to focus on the biggest bang for your buck. If you’ve heard it once, then you’ve heard it a thousand times – kitchens and bathrooms sell houses. 

In today’s market, some items are worth your investment and should not be skipped.

IDEAL KITCHEN BUDGET PRIORITIES:

 

  1. Custom Cabinets
  2. Stone Countertops, such as Granite
  3. Updated Appliances

It’s true that these are bigger-ticket items, but the kitchen is the heart of the home. If you renovate this one room to sell, it will pay off in spades. Within each item listed above are less-expensive options. For example, when making selections for your custom cabinets, go with a less expensive wood species, like Alder. This is a timeless choice that is less expensive than many other species and even less expensive than painted cabinets.

 

IDEAL BATHROOM BUDGET PRIORITIES:

 

  1. Updated Tub and/or Shower, including the plumbing fixtures
  2. New Toilet
  3. Revamped Vanity, including the faucet

This is a much more “bare essentials” list, as compared to the kitchen recommendations. Bathrooms are smaller and can be spruced up quite a bit without as large of an investment. However, if your bathroom is really outdated, then you should do more than the basics.

Personal Preference

 

If you’re not selling, then you’re free to remodel based on your own priorities. In what rooms do you spend the most time? Where would you benefit the most from a renovation? How can you change your house to improve your life? These are the questions to ask when looking at the remodeling possibilities.

To dramatically change the entire house, you can tackle projects like flooring throughout. Couple this with a new coat of paint, and every room will look new and refreshing. Your house might have outdated features, such as wood paneling, slab doors, and beat-up trim. Now is a great time to give your home the style it deserves.

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Budget Boundaries

 

Your budget will, of course, play a big role in deciding what you do and do not remodel. In fact, it is because of the budget that most remodeling is done in phases. You must ask yourself what is more important – one big project or several little projects. Bear in mind that “little projects” are often ideal for a handyman or DIY. Finding a contractor who can squeeze in little projects is difficult. For those of you selling, you’ll want to consult your real estate agent. For those of you enjoying your home for many years to come, you must decide what suits your needs best.

 

If you’re still at a loss for where to go from here, then read this list of budget points and potential projects. These figures are based on averages with Harris Renovations. Our remodeling approach almost always includes gutting the entire room and starting from scratch. This may seem more expensive, but it often saves time and money. The end result is always better for it. As with any remodel, you will always want a cushion for contingencies.

 

$15,000 – $20,000

 

Renovate a Guest Bathroom – This is a great starting point to remodel the guest bathroom that includes a shower/tub combo. Converting the tub to a walk-in shower will be a stretch, but not impossible.

 

Flooring, Doors, and Trim – Uniformed luxury vinyl plank throughout the entire house, updated doors, and new baseboard and casing will truly give your house the WOW factor. If you are working with more than 2000 square feet, you might need to increase the budget. Save a little more, and you can paint the rooms and update light fixtures or ceiling fans.

 

$25,000 to $35,000

 

Master Bathroom with a Walk-In Shower – The larger your master bathroom, the closer you will get to the top of this range. Of course, picking the most expensive finishes raises the price tag, as well. This budget, with conscientious choices, can get you a spa-like master bathroom retreat, with a fabulous walk-in shower.

 

Small Kitchen Remodel – If the footprint of your kitchen is on the smaller side, you could definitely pull a remodel off within this range. This would include custom cabinets, granite countertops, new appliances, a backsplash, updated lighting, and a new floor!

 

$40,000 to $60,000

 

The Ideal Kitchen – Working with the average-sized kitchen, this budget would allow you to consider a new footprint, which could mean a better layout and more cabinets. Many frills and thrills would come with this, of course! As with anything, different options would be a trade-off. If you change the footprint, including the teardown of walls, then you probably won’t be getting a Sub-Zero refrigerator. But, if you keep the layout simple, that fancy wine frig might be in the budget!

 

$80,000 to $100,000

 

Full Interior of the House – In this scenario, Harris Renovations would not gut your entire house, necessarily. The extent that could be done with this amount of money will obviously vary greatly from house to house. Multiple bathrooms and a kitchen could be tackled. Flooring could be installed throughout, including updated baseboard and casing (update those doors, too!). If you’re working with this budget, you should definitely take a hard look at your HVAC and windows. If you don’t have energy-efficient windows, they should be on the list. An HVAC unit on its last leg should also get updated. These are two high-dollar items, which may mean compromising somewhere else, but it will be worth it!!

 

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