Fresh Concept

Escape in a Home Remodel

Reimagine Your Home!

By Janette Calabro

Our homes are our sanctuaries away from the outside world. We relax at home, spending time with our families and caring for ourselves. Does your sanctuary need a little TLC of its own? In addition to increasing your enjoyment of your home, an update or overhaul of your home’s interior will also increase your home’s value. Let’s look at planning, budgeting, who to hire, and other important decisions before you remodel.

One trend to look for in 2021 is giving old rooms new life. can provide professional advice, with realistic detail, based on Since we’re spending more time inside these days, homeown- the layout of your kitchen. You may need the help of an interiers are getting creative, turning basements into entertainment or designer or architect to bring your dream kitchen to life, rooms or garages into home gyms. Guest bedroom turned but the investment is worth it. Professional kitchen upgrades home office space, anyone? New themes for old spaces are are never wasted money. trending! Valuable basement space can turn into all kinds of The bathroom is another popular renovation area. Updatentertainment or activity spaces—a full wet bar, a climbing ing your bath will increase your home’s value, and this very wall, or even an indoor golf simulator. Don’t forget home important room will add luxury to your living experience. theater options! Often, we can use a single space for Freestanding soaking tubs are back in style, and no wonder! dual purposes. Who doesn’t want to lounge in a bubble bath with a glass of

If you’re open to changing wall colors, consider contrast- wine after a hard day’s work? Rain showers are also popular, ing a neutral with a brighter color, like gray and sunny yellow. and, after 2020’s toilet paper shortage, bidets are in greater Aqua, this year’s accent color, also pairs well with a cool gray demand. It may seem a bit luxe, but if such upgrades make in bathrooms, bedrooms, and living areas that need a splash life better and add to resale value, why not? of intrigue. Blue-greens create harmo- Renovation costs depend on ny and have a wellness effect, inviting where you live, the quality of the all who linger to reflect and reset. For a home gym, consider vibrant orange Renovation costs depend on materials used, and what your plans are. Kitchens are usually the most or yellow accents to give you an uplifting energy boost. In the home where you live, the quality expensive to remodel, with average costs in the tens of thousands of office, you’ll want to be productive, so consider a restful and restorative of the materials used, and dollars. The range of expense can vary widely, depending on how much green. The kitchen is a valuable asset what your plans are. you’re planning to change the layout or the locations of plumbing and wirand is, arguably, the most important ing. High-end custom cabinetry and room in the house. One thing is for countertops aren’t cheap, but they sure—kitchens have always sold homes. During the pandemic will add beauty and convenience to your kitchen and value to and beyond, the kitchen has taken on new importance. As your property. the hub of the house, homeowners seek function and beauty Like kitchens, bathroom renovations usually require new more than ever. We’re all cooking more meals, storing more or rerouted plumbing and electricity. Make a plan with your food and supplies, and spending more time with family in the designer for the best budget. A master bath renovation can kitchen. cost just as much as a kitchen. A regular bathroom will cost

A dedicated pantry will help declutter the kitchen and less but is still one of the most expensive rooms in the house. create open counters for a better aesthetic. If you have space Finance advisor Dave Ramsey has some ideas on his webto add a pantry, go for it! Even in the smallest of kitchens, a site about how to take control of your renovation costs. “The designer can find enough room for a pull-out pantry. What a smartest way to create a home renovation budget is to lay out space-saver! the renovation projects you want done and price them,” he

Our increased dedication to hand cleaning has created writes. “Get bids for each individual project, then rank them higher demand for faucets, soap dispensers, and wastebaskets according to priority and start a detailed budget for the projthat are hands-free. Touch-free smart lighting is also likely ect you want done first.” As a rule of thumb, he recommends here to stay. adding balanced value to your house. In other words, don’t

If you’re considering a whole kitchen renovation, keep in spend half the price of your home to renovate just one or mind that plans can quickly become expensive, especially if two rooms. you change your mind about something once the renovation He also points out that you can spread out your renovation is already underway. A professional design company can help if you want to pay for them without taking out a loan. you determine your budget and financing options, and they “Let’s say your household income is $80,000 and you live in a $250,000 home. Ideally, you’d want to make $60,000 worth of renovations to revamp a few rooms, evict the squirrels from your attic, and repair the raccoon damage to your roof. If you can save $2,500 a month for renovations, you can tackle half of them within the first year of saving!”

Home equity loans are another way to finance a project. Rates are low and interest might be deductible, but tax laws change all the time—check with your CPA for the most accurate information. Your contractor, designer, or architect may also offer a financing plan. Be sure to work out a payment schedule before the work starts. Materials usually account for about 40 percent of the total costs. The lowest bid is not necessarily the best bid! Competence and comfort should play a big role in your decision.

Contractors should be insured and bonded. That means they have a business license and proper insurance (that is, they’ve made payments to a surety company for protection by a bond). The insurance company is usually responsible for covering any financial losses. It’s important to evaluate a contractor before hiring. That usually starts with testimonials from friends and family, but you can also check the National Association of the Remodeling Industry for a list of local members. Chat with a building inspector—they’ll know which contractors have routinely met code requirements.

Why is it so important to be up to code? Codes are the minimum requirements that safeguard a building’s structure for the health, safety, and welfare of those who occupy it. That means your kids, your guests, your family, and any future residents. Building codes govern the design, construction, remodeling, and maintenance of your home. Ask your contractor or designer for references of work done before committing.

Maintaining sanity while strangers are in your home, making dust and noise, isn’t easy. Good contractors will give you a timeline for the finished work before they start. Kitchens and baths may disturb your privacy from four to 16 weeks, and a room addition may be six to 16 weeks. You should also consider that delays are not uncommon. Your contractor has to wait for inspections and products.

Change orders and upgrades can be another delay. Change orders are any modification to the original plan. Those changes may cause a wait for new materials. Some contractors set cost limits (often a few thousand dollars), and changes may require an additional expert opinion, which may add additional cost. Limit change orders as much as possible to help avoid anxiety. Build delays into the schedule. When you expect to wait, the time you’re waiting will feel shorter. It’s best to allow your experts the time they need to make your space exactly as you envision it.

HGTV rates kitchen remodels in the top 10 improvements for gaining the most value from money spent. Attic bedroom conversions, basement remodeling, and living room updates also paid off for adding value in the last year. Number one on the list to add value is…drumroll, please…the bathroom remodel, with an average investment return of 102 percent! Make the magic of staying home feel good for your mind, your soul, and your pocket.

Sources for this article included: housebeautiful.com, hgtv.com, forbes.com, and daveramsey.com.