Remodeling 101 – A Quick Study on Cost Vs. Value
When it comes to remodeling your home, there are many things to consider. In the end, most, if not all, are driven by the same factor: budget. With the low inventory of homes for sale in the current Minneapolis/St. Paul market, many people are remaining in their current home and choosing to remodel their space to better suit their personal styles and tastes, increase their home’s value, or to accommodate a growing family. While discretionary spending on large home improvement projects, such as kitchen and bathroom remodels, continues to dominate overall home improvement trends, knowing where to spend your money in these areas is key. According to Remodeling’s Cost Vs. Value Report, in 2017, the average return on investment for an upscale major kitchen remodel in Minneapolis was 58.1%, and a luxury bathroom remodel returned 53.8%. In the midrange, a major kitchen remodel brought back 62% of its initial investment, and the bathroom redo recouped 59.6%.
Expert Guidance = Best Value in Kitchen & Bath Design
So what does all of this mean?! It means that the balance between cost vs. value comes with some important considerations. Coming into a home remodeling project with realistic expectations of the outcome is perhaps the most important. While you may never see 100% of the return on investment in remodeling project financially, it’s important to consider the impact it will have on your life; making it more enjoyable, simple and stress-free. This has value that may mean more than you could imagine.
Your priorities are another important consideration. Before you even begin the design process, it’s best to start with the things that are most important to you – your wish list – as well as a few nice-to-haves and an idea of how you want the space to feel or function (it might help to think of what you like and dislike the most about your current space). Do you dream of entertaining friends and family in a dazzling kitchen full of high-end cabinetry and professional grade appliances or do you yearn for a serene, spa-like bathroom space to unwind and relax in after a stressful day? This is where experienced kitchen & bath designers can help the most. If your choices come from the perspective of cost vs. value, it will help you and your designer prioritize when to save and where to splurge to ensure you end up with an amazing space while getting the most bang for your buck. With decades of experience and access to hundreds of vendors, from cabinetry and countertops to lighting and tile, our team at Sawhill Custom Kitchens & Design can specify the right products across a wide array of price-points and quality levels. This will to ensure your space is functional, beautiful and budget-friendly (whatever your budget may be) and deliver the best value when it comes to spending your hard-earned money on a major (or even minor) remodeling project.
Taking the Next Step in the Remodel Process
If you would like more information on the entire remodeling process, download our Free Remodeling Guide, call at (612) 338-3991 or stop by our kitchen & bath showroom at International Market Square to discuss your project. We’d love to speak with you about how we can add value to your home and life!