Recently, many Durango residents are thinking of renovating. When I am asked to review home conditions prior to listing, I have a different recommendation based on every home and what the owner hopes to get our of it – return on investment, increased enjoyment in a home, and more can motivate a homeowner to renovate. It all depends on what needs to be done, how dated the current set up is, and what the projected cost will be.
I tackled a bathroom renovation myself recently, and it left me with a few tips to consider:
#1 Hire a designer! – With the high cost of building and renovating in our area, it is definitely a good idea to hire a professional to layout the design and mange a budget. Additionally, a designer can help coordinate tile, cabinets, all the various options in material type, and color. Owners don’t want to make an error with such a substantial investment.
#2 Know what features help resale! – Electric heated floors and steam showers are really attractive resale features; however, they can add thousands to a project depending on the existing infrastructure of your bathroom.
#3 Don’t forget your plumbing while you think about storage! – Many home owners desire more storage, and I am no different. However, I made concessions during my remodel between how much storage would be available due to how my home was originally plumbed and the cost to change it.
#4 Bid your project! – It’s easy to assume that high building and remodeling costs means that all projects will just be expensive. While this can be true to a point, it’s so important to contact more than one contractor, bid your project, and spend some time visiting with the contractor because the cost and relationship matter. The fact is that throughout any remodel, owners spend a lot of time with contractors so the relationship is important.
#5 Consider remodel cost when home shopping! – When buyers are looking at dated homes, the cost of renovation has to be considered. Buyers can easily overlook this and wind up overpaying when buying the home – making a remodel difficult. Buyers always have to consider the cost of the update before buying. If it’s too costly, they may not be able to sell the home and receive money back on their investment.
The demand is so high in Durango neighborhoods that simple bathroom remodels along with other key areas like the kitchen can help home owners retain more of their investment with low days on the market and help get top of the market prices. According the the 2019 Cost vs. Value on remodel projects, the mid-range bathroom ROI (return on investment) is 67.2%.
Every type of remodel has different tips and tricks associated with it, but bathrooms are among the most important to consider!