average cost

July 31, 2022

We want to help you make more informed decisions. Some links on this page — clearly marked — may take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money.

Once considered gloomy spaces void of much glamor, basements are now being pushed to the spotlight as an opportunity to reclaim space.

The popularity of having a finished basement is a side effect of the pandemic, says Jamil Damji, co-star of the A&E series “Triple Digit Flip” and a wholesale real estate expert based in Phoenix. “When we were cooped up during the quarantines, we became very aware of how small some of our spaces were,” Damji says. “That led people to add space or remodel their homes.”

Basement remodels may cost more than you have in cash reserves, though. The average cost of a basement remodel is $21,632, according to HomeAdvisor. As with most home remodeling projects, that figure varies widely, depending on factors like the scope of the project, the square footage of your basement, the quality of the materials you use, and the cost of labor in your area.

That can be an expensive project, and many homeowners don’t have tens of thousands of dollars sitting in savings. There are ways to finance a basement remodel, including home equity loans, home equity lines of credit (HELOCs), and other options.

Here’s a breakdown of the average cost of a basement remodel, with how to save money and finance the work toward that perfect finished basement.

How Much Does a Typical Basement Remodel Cost?

On the cheaper end, a basement remodel starts around $9,000 for a 700-square-foot area. Remodeling a space twice that size puts the price range around $21,000 to $112,500. You can

… Read the rest

HOME IMPROVEMENT

July 3, 2022

kitchen remodel — Andrey_Popov / Shutterstock.com

Home renovations can be a real chore — not to mention expensive. If it’s a change that will improve a home you plan to stay in for a long time, go ahead and take on the challenge.

But sometimes, homeowners can be fooled into thinking an update will greatly improve their home’s resale value. And that’s not always the case.

Remodeling magazine’s 2022 Cost vs. Value Report looks at how well 22 remodeling projects retain their value at resale in 150 U.S. markets. In some cases, you’ll barely recoup half the renovation cost when it comes time to sell.

The following are the home renovations with the absolute worst payoff, starting with the project in the No. 5 spot.

5. Midrange master suite addition

Attic bedroom — Photographee.eu / Shutterstock.com

National average cost: $175,473

Average cost recouped: 53.4%

The study doesn’t just look at remodels, but at additions as well, meaning adding a completely new section to a house. The addition of a midrange master suite can cost more than $175,000 and recoups just over half that when the time comes to sell. But before you sell, you’d be enjoying a pretty luxe new bedroom. The Remodeling magazine estimate assumes you’ve added a walk-in closet, dressing area and bathroom with double-bowl vanity, freestanding soaker tub and a separate ceramic tile shower.

4. Upscale major kitchen remodel

Women in a kitchen — SpeedKingz / Shutterstock.com

National average cost: $158,015

Average cost recouped: 52.5%

If you love to cook or entertain in your kitchen, you may want to splurge on an upscale remodel — but note that it will cost more than $158,000. While you might not be doing it for resale value, you’ll certainly enjoy the perks, which include high-end appliances, custom cabinets, stone countertops and new lighting.

3. Midrange bathroom addition

… Read the rest

HOME IMPROVEMENT

July 1, 2022

Renovating your bathroom won’t just bring you that steam shower or soaking tub you’ve been dreaming about. It could also improve the resale value of your home.

Bathroom renovations have an average return on investment (ROI) of 60% to 68%, according to HomeGuide, with some upgrades adding more value than others. But you’ll need to spend some money before you can increase your home’s value – enough that you might need to consider home equity loans or other financing to pay for it. You should expect to spend somewhere between 5% and 10% of your home’s value on a bathroom remodel, according to the National Kitchen and Bath Association. Based on that, if your home is valued at $200,000, your bathroom remodel might cost somewhere between $10,000 and $20,000.

While there are a variety of factors that affect bathroom remodel costs — from materials to room size to labor— understanding the average cost of a bathroom remodel can help you plan your budget.

How Much Does a Typical Bathroom Remodel Cost?

The cost of a bathroom remodel will vary depending on the scope of the project, cost of the materials, size of the room, and other factors. Choosing to DIY your project may keep costs down, whereas hiring a contractor or plumber will add to your bill.

More minor, low-cost changes could involve painting walls, swapping out fixtures, or refinishing a bathtub. Pricier remodels could be installing a shower, retiling a floor, or replacing cabinets.

“Bathroom remodels may range in scale from a simple refresh,

… Read the rest

HOME IMPROVEMENT

June 21, 2022

bob vilas most valuable projects of 2022 bathroom remodel

Photo: istockphoto.com

This is the third installment of Bob Vila’s Most Valuable Projects of 2022, a month-long series featuring high-ROI home improvements on kitchens, curb appeal, bathrooms, and more. Each week, we’re pulling from our vast library of informational content, vetted shopping guides, and connections to industry professionals to present primers on the top projects to take on this year.

A bathroom remodel not only makes a home more functional and aesthetically pleasing, it also boosts the value of the property. Whether you have plans to put your home on the market in the coming months or simply want to refresh your space, a bathroom renovation is a smart financial decision.

When undertaking any kind of home improvement, it’s important to consider whether the cost of the project will be recuperated if you decide to sell your home. Being mindful of the potential return on investment (ROI) before making a major financial commitment can help you prioritize projects that will pay off down the road in addition to improving your daily life now.

How much does a bathroom remodel cost? It depends on a variety of factors, most notably the project scope. For example, the average cost of a mid-range bathroom remodel is approximately $27,000, according to the Remodeling 2022 Cost vs. Value Report. And homeowners can expect to recoup nearly $16,000 of that cost at resale for an ROI of nearly 60 percent.

A small bathroom remodel or a powder room update will likely be even more affordable. Luckily, you don’t need to add luxury fixtures or high-end features to reap the benefits—in fact, higher-priced upscale bathroom remodels have a lower estimated ROI than modest refreshes.

Check out the following cost estimates, fixture comparisons, and expert-recommended shopping tips to help you nail down the scope of your

… Read the rest

HOME IMPROVEMENT

June 13, 2022

Photo: depositphotos.com

Typical Range: $6,152 to $16,615
National Average: $10,978

Tired of aged, cracked tile and grout in a dated bathroom? A fresh remodel of the bathroom—a space where you get ready to face the day in the morning and rinse off the stresses of the world at night—can be remarkably uplifting. In addition, dated bathrooms can drive down a home’s resale value, while a well-done remodel can pull buyers in and make a higher home price seem reasonable. According to Angi and HomeAdvisor, the average cost to remodel a bathroom is $10,978 but can range between $6,152 and $16,615. There are many variables in the average cost of bathroom remodel; size, shape, and number of fixtures make a difference as does the choice between sticking with an existing layout and making a change. Luxury materials and finishes also ramp up the total cost and are worth it if they’re in your budget, but a quality remodel can be done with cost-consciousness and still be beautiful. We’ve examined the basic measure of bathroom remodel costs, along with some additional costs that may be surprising, to help you decide how to tailor your vision to your budget.

Remodeling your bathroom?

Get free, no-commitment project estimates from pros near you.

What Is the Difference Between a Bathroom Renovation and a Bathroom Remodel?

Photo: depositphotos.com

“Renovation” and “remodel” are words that are often casually substituted for one another, but in terms of actual planning and construction, they’re quite different. Especially if you plan to work with a professional contractor, it’s key to know what you’re asking for in order to get the best advice. There is some overlap, and even some contractors will use the words interchangeably, but there is a distinction. As with any home project that involves plumbing or

… Read the rest

HOME IMPROVEMENT

average cost

Average Cost of a Basement Remodel

How Much Does a Typical Basement Remodel Cost?