Welcome back to part two of this two-part blog series about remodeling projects which yield the best return-on-investment. As a brief reminder, part one was us introduce the idea as an element of our process and included in the outcome of our customers’ redesign projects. That is to say, because our remodeling projects involve improvements in both function and aesthetic appearance, the natural byproduct of our redesign work is that homeowners will be able to tangibly improve the resale value of their homes by working with us at Daniels Design & Remodeling.
We don’t wish to belabor the point, so we’d encourage you to go back and read part one, should you get the opportunity.
The Breakdown: Which Home Remodeling Project Is Right For Your Goals?
No matter which remodeling contractor you end up choosing, it’s fair to say that not all remodeling projects will yield the same kind of ROI. This is because each home is different, first and foremost. And as such, a bathroom renovation in one home will require more upfront investment than another in a different Northern Virginia home, for example.
But beyond the idiosyncrasies of each house, it’s about finding the remodeling project that will enhance your home and add the most value to your property, especially if you are thinking about selling that home in the near future. Hence, below we break down some of the most common remodeling projects we perform alongside a rough average of ROI percentage. Is the universal bathroom redesign the right project, or is it a major kitchen remodel that includes adding more natural lighting and room for entertaining? Keep reading to find out!
Major Kitchen Remodel – 60.5 Percent
A major kitchen remodel usually includes the installation of an island, cabinet replacement, countertop replacement, sink replacement, all new fixtures and appliances, flooring replacement, improved lighting, and often a fresh coat of paint to the ceilings and walls. While each project is different in investment and scope, a major kitchen remodel typically brings around 60.5 percent in ROI. That is, most homeowners in Northern Virginia can expect the return on investment to be over twice what they spent on the investment. For example, if this major kitchen remodel cost $100,000 but the house gained $160,500 in value, the ROI percentage is calculated at 60.5 percent (profit divided by cost).
Minor Kitchen Remodel – 81.8 Percent
A minor kitchen remodel will not be as comprehensive as a major one, as the power of logic might have led you to guess. It’s less of an investment, and is more of a “facelift” than proper reconstructive surgery. That said, minor kitchen remodels performed by Daniels Design & Remodeling will still be robust in their capacity to enhance functionality and appearance. And, as we no doubt have driven home at this point, those are two improvements that directly lead to an increased valuation on the home. Encouragingly, a minor kitchen remodel will typically yield an ROI percentage in the range of 81.8 percent for Northern Virginia homes.
Bathroom Remodel – 73.5 Percent
It’s tempting to be too hard and fast with these estimates (for they are, indeed, only approximations), but the truth of the matter is that there will always be a degree of variability to account for since every home is different. Plus, there is a wide range of way to remodel your bathroom, so again, it just depends. That said, DD&R bathroom remodeling projects usually involve replacing: shower tiles; bathtubs with a porcelain-on-steel tub; floors with ceramic tile flooring; all of the fixtures with energy-efficient, attractive fixtures; replacing the overhead lighting with LED lights; and many other options. The bathroom remodeling projects we complete tend to yield in the range of 73.5 percent ROI.
Universal Design Bathroom – 74 Percent
A universal bathroom redesign involves creating a space that is accessible for everyone, irrespective of ability, size, or age. This improves the functionality of home while also enhancing the aesthetic value of your bathroom space. Especially helpful for families with members who have disabilities, or folks elderly folks dealing with mobility concerns, there are numerous ways to update an existing bathroom with what is known as a universal design. Among them are widening the doorway, moving the electrical outlets and switches to a comfortable, sitting level, reconfiguring storage space to be more accessible, replacing the faucet and shower to be more accessible and convenient, and making sure that all users can be safe while using the new universal bathroom. 74 percent ROI is just one more reason to consider this option.
Master Suite Addition – 60.5 Percent
The final home renovation type of project we’d like to highlight is that of the master suite addition. Coming in at an estimated 57.2 percent ROI, what this kind of project loses to alternatives it more than makes up for in function, comfort, and aesthetic appeal for the homeowners. After all, we are talking about the master bedroom here.
We are speaking of adding select carpeting, ceramic tile and a free-standing tub in the bathroom, a walk-in closet, improved lighting, a separate shower, a double-bowl vanity, and much more! Imagine being able to upgrade it into a veritable suite! We are tempted to call it an “oasis,” but perhaps we are getting a bit carried away. Can you tell we love what we do?
Clearly, the master suite addition is one that we have a lot of time for. And we suspect our prospective customers might as well. Plus, 57.2% ROI is nothing to turn your nose up at!
Turn Your Vision Into Reality
For more detailed information about estimated ROI, what our redesign projects include, and why you should consider choosing Daniels Design & remodeling among Northern Virginia home remodeling contractors on your shortlist, check out our dedicated resource on the matter.
At the end of the day, we hope you reach out to us if you are ready to have a conversation about turning your unique vision into a stunning reality. Schedule your conversation with us at your convenience!