Budget Drives the Scope

Every home renovation is unique and therefore so is the cost. Accurately estimating your project will take time. We feel that it’s time well spent to develop a game plan for a successful remodel.

Please take a look at the link provided below to gain an understanding of our project budget ranges. Keep in mind, these are average costs throughout New England. Varying factors will determine overall costs including age of home, condition of utilities, and desired fixtures. We’ll be able to offer more specifics on your project during our initial discussions.

https://www.remodeling.hw.net/cost-vs-value/2019/

The following information below was taken directly from the page link above – all credit goes to remodeling.hw.net

2019 NATIONAL AVERAGES

National Cost vs. Value Averages
M = MIDRANGE PROJECT | U = UPSCALE PROJECT

PROJECT JOB COST RESALE VALUE COST RECOUPED
Minor Kitchen Remodel – M $22,507 $18,123 80.5%
Major Kitchen Remodel – M $66,196 $41,133 62.1%
Major Kitchen Remodel – U $131,510 $78,524 59.7%
Bathroom Addition – M $47,427 $28,726 60.6%
Bathroom Addition – U $87,704 $51,000 58.1%
Bathroom Remodel – M $20,420 $13,717 67.2%
Bathroom Remodel – U $64,743 $38,952 60.2%
Universal Design Bathroom – M $33,374 $20,868 62.5%
Deck Addition (Composite) – M $19,150 $13,232 69.1%
Deck Addition (Wood) – M $13,333 $10,083 75.6%
Midrange Backyard Patio – M $56,906 $31,430 55.2%
Manufactured Stone Veneer – M $8,907 $8,449 94.9%
Master Suite Addition – M $130,986 $77,785 59.4%
Upscale Master Suite Addition – U $271,470 $136,820 50.4%
Siding Replacement – M $16,036 $12,119 75.6%
Grand Entrance (Fiberglass) – U $8,994 $6,469 71.9%
Window Replacement (Wood) – U $20,526 $14,530 70.8%
Window Replacement (Vinyl) – U $16,802 $12,332 73.4%
Entry Door Replacement (Steel) – M $1,826 $1,368 74.9%
Garage Door Replacement – U $3,611 $3,520 97.5%
Roofing Replacement (Asphalt Shingles) – M $22,636 $15,427 68.2%
Roofing Replacement (Metal) – M $38,600 $23,526 60.9%


The reason for high returns on exterior projects, and especially facade facelifts, stems from the valuations set by the real-estate community. In order to make the best use of the Cost vs. Value tool, a remodeler has to think like a real-estate broker. “Curb appeal” and “first impressions” are central to a real-estate professional’s estimation of resale value. Granted, a home’s exterior will only persuade potential buyers to see more, and first impressions can vary from one individual to the next. But the impact these impressions make is critical in setting the stage for what a buyer is willing to pay for a home.

The larger discretionary projects, such as kitchen, bath, and master-suite remodels, tend to be too individualized to provide broad, lasting appeal. There is no one best cabinet style or color, no perfect tile or fixture design, that garners universal affinity. Certainly, there are design trends that have wide appeal among a range of homeowners. But because of the vast differences in aesthetic tastes, one person’s elegant new kitchen or bath will be viewed by a range of other prospective buyers as tacky and outdated and in desperate need of a reset.

Given the wide variety of client tastes, and the remodeling industry’s immense capacity to service those diverse needs, remodelers understandably tend to be focused on a lot more than resale value when discussing a project. Pride in design and craftsmanship, long-term durability of materials, occupant health and safety, reductions in liability, and driving repeat business are all top of mind for remodelers, but they are not necessarily understood by clients. If you can adjust your focus to think like a broker first, you can dull clients’ No. 1 pain point, cost, with a discussion of the costs that can be recouped. Once that’s firmly established, and the clients feel reassured they are not throwing good money after bad, you can go on to show them how to think like a remodeler, raising their understanding and appreciation of the total value, not just resale value, of a home.

Investment Value Trends

While the percentage of costs recouped are trending downward for all of the replacement projects covered by Cost vs. Value, this change primarily reflects the sharp increase in material costs over the past summer. Material costs tend to comprise a greater proportion of replacement projects compared with larger indoor remodels, which have a higher percentage of labor costs. Provoked by trade tariffs and uncertainty that roiled commodity markets over the summer, lumberyards and supply houses began sending customers regular notices about cost increases, right when the cost evaluations for Cost vs. Value were being completed. The cost of the steel door replacement is the most dramatic example of this, with an increase of 24% year-over-year from 2018 to 2019. The percentage change in cost recouped—a decline of 16.4% year-over-year— looks startling, but the relatively low cost for this project means the change in cost in actual dollars—from an average of $1,471 to $1,826—is not nearly so heart stopping.