Hottest remodeling trends
Are you ready for a transformation this spring, and does your notion of transformation center around your home?
Whether you choose to purchase your dream home or remodel your current home, you are expressing the hopeful attitude spring inspires.
Before you decide what you want to do, here are some of today’s hottest remodeling projects plus guidelines for which projects give the best return on your money. Keep in mind these improvements will not only increase the enjoyment and usability of your home while you own it but will increase its value later on when you decide to sell.
You may be daydreaming about adding a master bedroom or family room, or possibly remodeling the kitchen or bathroom. But where do you start? According to REALTOR magazine’s 2003 Cost vs. Value report, remodeling or adding a bathroom is the best choice.
Remodeling a bathroom
The national average cost of remodeling a bathroom is $10,088. The value at sale is $9,890, so the cost recouped is 89.3 percent. In Denver the average cost recouped is 73.1 percent. If your bathroom is 25 years old or more, it’s worth the investment. Buyers are expecting newer fixtures, a tub with a ceramic tile surround and solid surface counters with integral sinks and a recessed medicine cabinet. Sorry, turquoise and maroon tiles are not coming back, and your potential buyer may not either if that’s your bathroom’s original color scheme.
Adding a family room
The addition of a family room is the second best project from an investment perspective. Consider adding a 16-by-25-foot family room with prefinished hardwood floors, lots of windows, atrium-style exterior doors and two operable skylights. Nationally the average job cost for a family room addition is $53,893, compared to a job cost in Denver of $50,916. The percentage cost recouped for the national average is 80.6 percent and for Denver it is 68.7 percent. Homes with family rooms will attract more buyers, particularly those with growing families.
Updating the master suite
Almost as popular as remodeling a bathroom or adding a family room is a master-suite addition. There has been a tremendous change in master bedrooms in the past 20 years, and buyers’ expectations have risen accordingly. Couples are no longer content to share a bathroom across the hall with teenagers or even a small single-sink bathroom with each other.
Nationally the average cost of a bedroom suite addition is $53,983 and in Denver $50,916. But you can anticipate recouping about 80.6 percent of your cost nationally and 68.7 percent in the Denver area. Remodeling magazine and REALTOR magazine recommend the following for a median price home: 24-by-16-foot master bedroom suite, walk-in closet/dressing area, whirlpool tub in a ceramic tile platform, separate 3-by-4-foot ceramic tile shower and a double-bowl vanity with a solid surface countertop.
Of course there are variables to take into account, such as the average sale price of homes in your neighborhood and whether that price can support the additional value of your remodeled home. Your local realtor will be able to supply you with information on sales of comparable homes, which will help you evaluate your decision. If you’re still having trouble making up your mind, consider this quote I ran across recently:
“If nothing ever changed, there would be no butterflies.” Good luck with your transformation this spring, whatever forms
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