Home Renovation. Friday , October 05th , 2018 - 03:13:14 AM
More specifically, home owners can expect bathroom and kitchen renovations to start at around $400 per square foot; however, renovations in other rooms can be much cheaper and home owners can estimate renovation costs at around $200 per square foot. Since many factors affect the cost of a renovation, it is impossible to provide hard figures. Still, if you work closely with a contractor and use these estimates as a starting point, you'll have a clearer picture of your overall budget.
If you are doing a major home renovation on an old house that requires replacement doors and window replacement. And maybe the roof should be replaced and the old house could really use some siding. This amount of work will catch the eye of any home improvement contractor. Most contractors will give you low bottom price bids just to get all of this work as a bundle. By bundling you have one renovation contractor to deal with instead of two or three. And most likely your home renovation could be more than half way done before you even have to cut a check.
Value engineering in respect to home renovation is the process by which you analyze to determine what renovations will bring in the most profit for your home. Determine the market value of your home as well as market value of renovated homes similar to your home in your area. This is done to find out whether there is any room to profit. If the price for your un-renovated home is close to the price of a renovated similar home nearby, renovation could be a waste of time and money. Remember, the key words are "similar homes" and "in your area". There is no point comparing your home that is built on a 20 x 100 parcel of land to a home built on a 5 acre land as you are not able to stretch the size of your land. Also the comparables that you choose must be near your home, preferably on the same street or just few homes down the road from your home. You can obtain market value of these renovated homes from your local real estate office or from a qualified appraiser.
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