Interviewing the Expert - The Budget

/ @DesignREMODEL/
Interviewing the Expert - The Budget

Welcome to Part 2 in our Remodeling FAQs series, where John and I discuss answers to all my most challenging remodeling industry consumer questions. This installment is all about budgeting and pricing, undoubtedly one of the most crucial and sensitive aspects of a remodeling project.

Read More

Remodeling Costs On Cape Cod

/

We frequently get inquiries about the cost of remodeling projects here on Cape Cod. Given that every house, project and homeowner is different, it can be challenging to provide a specific number without going through the process of looking at every aspect of a project which is time consuming. Design, selecting products and fixtures, calling suppliers and trade partners. Which can on average take about 8-12 hours on a small bath remodel!

Enter Remodeling Magazine , which is one of the best trade magazines for Remodelers and for the last 23 years, has undertaken the research, leg work and math on an annual basis on the costs of a wide range of projects. Below are some examples of projects that we extracted from their data. These are similar to projects that @design REMODEL has completed for clients across Cape Cod.

1. Basement Remodel  $66,675 2. Bathroom Addition  $40,753 3.Bathroom Remodel  $17,460 4.Minor Kitchen Remodel  $19,885 5.Major Kitchen Remodel  $58,982

For the most part, we have found that the project costs compiled by Remodeling Magazine are consistent with what we and others in the market are charging. While there is variation from project to project, the averages are right in line with reality.

In many ways, the costs of remodeling have followed a similar trajectory of the cost of purchasing a new car or truck. Costs have escalated as manufacturers add new features, use new materials and add higher labor costs, research and development and regulatory compliance, it all adds up!

It's not all unusual for a new fully loaded SUV to cost upwards of $60K much like the Major Kitchen remodel listed above at about $59K. Yet, after 5 years, most vehicles are heavily depreciated and you are ready for a new one. The kitchen on the other hand, is only one quarter into it's life expectancy of 20 years!

Note: The costs above are averages for New England and are for projects considered "midrange" in scope and cost.

“© 2011 Hanley Wood, LLC. Complete data from the Remodeling 2011–12 Cost vs. Value Report can be downloaded free at www.costvsvalue.com”