Remember that great idea you had for a home improvement project that didn’t quite work out in the execution? There are plenty of those instances when doing home remodeling. With the small ones it doesn’t really matter if they don’t pan out, but what about the big, high-risk projects that you consider undertaking while trying to improve your home?
That’s not to say these won’t ultimately be successful, or that you won’t love the results. It’s just that they might provide less of a payoff than you initially think.
High-end bathroom renovation
Bathroom remodels are great because the joy of using an ample-spaced, well-furnished bathroom shouldn’t be underrated. In general, bathroom renovations give homeowners a lot of satisfaction. However, the value you get out of high-end bathroom upgrades might not be proportionate to the cost. Mid-range models of items like new toilets, sinks, vanity mirrors, et cetera are often preferable to the really fancy higher-tier options. The latter could end up putting quite a big dent in your budget.
If you enjoy prepping your food, you’ll get a ton of value out of a kitchen remodel. However, really high-end upgrades in the kitchen might not be the ideal way to go. You may have seen ads for really fancy cabinets and top-shelf appliances, furnishings like granite counters each with multiple sinks, and fancy concealed and suspended light fittings. Apart from some added value from having energy-efficient applications, these might not really provide many advantages over more modest remodels.
Master bedroom addition
Having a spacious suite for your sleeping area is most peoples’ dream. So much seems to be possible in a well-designed master bedroom. You’ve got your walk-in closet, a master bathroom, comfortable seating and possibly even a bar or lounge to go with the massive bed.
Equipping the sleeping quarters with all the bells and whistles, however, probably isn’t for everyone. Studies find that less than 50% of the cost can be recouped for such luxurious projects. Then again, for those few where economizing is no object, they may enjoy the heck out of such an extravagant remodel!
Is there long-term value in really pricey upgrades?
These are just a few examples of projects that might not intrinsically hold much value over simpler renovations of the same space. When you think about it like that, it becomes a question of the high cost versus the value you gain. This value is weighed differently depending on your purpose and priorities, of course. This means your mileage may vary when it comes to your overall satisfaction in the end. For example. are you thinking long-term about recouping the outlay?
This is especially true if you’re heading into home remodeling with the intent to eventually sell the property. You can splurge and enjoy the benefits, but the payoff might suffer once it’s time to let the home go. Keep in mind that there are some projects that come with costs you simply won’t be able to recoup.
Here’s the best way to go about it
What’s important is that you plan the remodel with a purpose in mind. As long as you achieve what you set out to do, you’ll surely be happy with that home remodeling project. So, call us in for professional advice. With years of experience handling remodels of every size, we can help you assess whether your ideas are really practical or not.
This way, you’ll get an upfront estimate of how much it cost and what it will take to achieve what you had in mind. We can also help realign or tweak your vision in order to be better aligned with your purpose, priorities, and bank balance.
Give us a call today for a peace-of-mind, no-obligation, free assessment, and quote.