Planning & Budgeting Your Home Project
There are two common ways to plan your project:
#1: Build Your Budget Based on Your Home’s Value
Consult with national averages. For example, your kitchen and bathrooms make up 6-10% of the value of your home. Additionally, basements equate to 3-6% of home value. From these averages alone, you can see that remodeling your kitchen will likely cost more than remodeling your basement, but you can usually expect a better return on your investment. When considering Return on Investment (ROI), you can expect to recover 60-70% of your remodeling investment from the resale value of your home. An example might be a beautiful kitchen overhaul. A $2,000 investment into your kitchen will yield a return of about $1,200-$1,400 in added resale value.
#2: Build Your Budget Based on Cost Per Square Foot
The cost of numerous types of projects are divided by the square footage of the kitchens, bathrooms, or basements involved. For example, you may want to put new flooring into a kitchen or basement. Looking at your budget by its cost per square foot makes calculating the cost of projects simple and straightforward.
We are experts in consultation and completion of any kind of home remodeling. Call (574) 206-4394 today and begin the process of planning your new, renovated home or contact us online!