Get the Best Bang for Your Remodeling Buck
Filed under: Bathroom Remodeling, Home Remodeling, Kitchen Remodeling, Windows
Your home is your castle, but sometimes that castle may need a facelift. Remodeling is a great way to create a home environment that can meet your family’s changing needs and tastes without you having to spend a lot of money.
Before you spend your hard-earned dollars, however, make sure that the changes you make now will have longer-term benefits for you when you look to sell your home in the future.
You should find out what features are standard for homes in your neighborhood. If you only have one bathroom but most of the other homes average two or more, you will want to bring your house up to that standard. On the flipside, do not make changes to your house that are too extravagant or out-of-place for your neighborhood.
Make sure you are not making changes that will turn off prospective buyers. Keep in mind what future home buyers would like to see in their next home. It is often wiser to add an additional bathroom or bedroom rather than a sunroom or sauna, for example, which are costly and will not necessarily be a priority for anyone else.
The size and cost of your project matter as well. The Joint Center for Housing Studies at Harvard University advises that smaller or midrange jobs overall will tend to recover a higher percentage of their cost than larger, higher-end projects.
For example, replacing old windows will generate a higher payback ratio than adding a high-end kitchen with all of the bells and whistles and it costs significantly less, according to Stephen Melman, an economist with the National Association of Home Builders.
Maintenance-related projects, such as siding and window replacement, are especially popular because they are repairs that are seen as needed, but can also help improve curb appeal at fairly low costs in relation to other projects.
The top-ten midrange projects cited in Remodeling magazine’s “Cost vs. Value Report” that provide the highest percentage return are:
- Deck Addition (wood) - 81.8 percent
- Siding Replacement (vinyl) – 80.7 percent
- Minor Kitchen Remodel - 79.5 percent
- Window Replacement (wood) – 77.7 percent
- Window Replacement (vinyl) – 77.2 percent
- Major Kitchen Remodel - 76.0 percent
- Bathroom Remodel - 74.6 percent
- Attic Bedroom - 73.8 percent
- Deck Addition (composite) – 73.7 percent
- Basement Remodel - 72.9 percent
These numbers represent the national average and percentages may vary in your region. To get information on projects that are the best investment for your area, check out the Remodeling magazine’s “2009-2010 Cost vs. Value Report” published by Hanley Wood online at www.costvsvalue.com. If you would like a copy of the Detroit area Cost v Value report contact P & B Finishers and we will send you one.
Whether you are looking to sell your house soon, or are just looking to remodel for yourself, it makes sense to keep an eye on how the changes you make now will reflect on your biggest investment down the road.
To find a professional remodeler in southeast Michigan, contact your local home builders’ association at http://www.biaremodelor.org/ or visit www.nahb.org/remodel.
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Cheapest is Seldom Best — When to say “NO”
Filed under: Bathroom Remodeling, Home Remodeling, Kitchen Remodeling, Sunrooms
We’ve gotten a lot of calls recently for remodeling and I’m noticing an expected trend in the outcome of my sales calls: Contractors are quoting unbelievable (and unrealistic) prices for remodeling. This will be a problem that both contractor and homeowner will likely pay for in the end.
One of the most basic things a business must do to stay in business is make a profit. There is no faster way to go “belly-up” than to take jobs too cheap and break even or lose money on them. Yes, even the guy who breaks even will fail, sooner than you might think. And when that happens, you could get stuck with an unfinished project or long delays, a warranty claim that can’t be filled, or suppliers and tradesmen to pay — for a second time.
The best way to protect yourself is to hire professionals. There are a lot of “trunk slammers” coming onto the playing field right now. Unemployment is high. Almost anybody can drive a nail, paint, or finish drywall and that’s all it takes to be a remodeler–right?
Wrong.
It takes more. Professional remodelers know what it takes to run a successful business. They may have years of experience, hold a variety of credentials and even have college degrees. It’s not just about driving nails and finishing drywall. It’s about business practices and managment skills.
When you are ready to start a project you should always seek referrals from your family and friends who have used a professional remodeler before. If you don’t have that resource, call your local Home Builders Association or NARI chapter for recommendations of an accredited contractor in your area. Get three quotes from professional contractors. Look for professional designations such as NAHB’s Certified Graduate Remodeler (CGR) or NARI’s Certified Remodeler (CR). Earning these designations means the remodeler is serious about his/her business and wants to be successful at it…and that benefits you, the homeowner, too.
Review each quote carefully to make sure the contractors are bidding apples for apples. There’s nothing like getting well into a job then finding out the contractor didn’t include plumbing fixtures in the proposal.
How do you as a homeowner know when to say “no thanks?”
Look for the obvious first. A bid that’s considerably cheaper than others you’ve received should probably be dismissed immediately. A bid that’s considerably higher might also be dismissed but, you may want to make sure everyone is bidding the same thing and has the same allowances for fixtures, cabinets, etc. You’re usually better off taking the middle bid. Notice I said usually.
A professional will come to you with licensing, insurance and references, usually without your asking. Steer clear of uninsured contractors. They can be big trouble for you. You can be liable for them, their workers and any damage they may cause. If they ask you to secure the permit, beware. There’s usually a bad reason.
You can check licensing online in most if not all states. Remember that electricians, plumbers and HVAC (Mechanical) contractors must have their own corresponding licenses. The remodelers Builders’ License does not cover it. You can feel secure if you’re remodeler is using licensed electrical, mechanical and plumbing contractors and is providing you with all the necesary permits — Building, Electrical, Plumbing and Mechanical — for the project. Remember too, that some jobs — painting, many repairs, cabinet replacements, etc. — don’t require a permit. Check with your local building authority.
If you’re still not sure, look for advice at your local Home Builders Association or check you state’s Builder Licensing Division for useful information. Oh, and don’t discount the gut feeling.
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Welcome To Home Remodeling in Michigan
P & B Finishers, Inc. was founded in 1995 by Lenox Bowman. Our company offers top quality, full-service remodeling in Macomb and Oakland Counties and northern Detroit.
We are providing this informational blog for homeowners in Michigan to find the latest information about home remodeling contractors and design/build solutions.
If you are looking for a professional remodeling contractor please call us today at 586-254-7969 or complete our no obligation consultation form.
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