Kitchen & Bathroom Renovation Costs in Fairfield
Planning & Budgeting Your Home Remodel
Of greatest concern to most homeowners who are considering a remodel is the cost. Determining a realistic budget that will cover all the services you are seeking can be tricky. Many homeowners are not sure how to figure out what a reasonable budget might be for their unique situation.
We Recommend Planning Your Budget In One Of Two Ways:
Building a budget based on your home’s value
Do some research to find the current value of your home. Then, consult with national averages to determine the value of the room you wish to remodel. For example, your kitchen and bathrooms comprise 6-10% of the value of your home.
When determining your return on investment (ROI), you can expect to recover 60-70% of your remodeling investment from the resale value of your home.
This means that a $2,000 kitchen remodel will yield a return of somewhere between $1,200 to $1,400 in additional resale value.
Building a budget based on cost per square foot
In this method, you will divide the cost of the project by the square footage of the room being remodeled. For example, if you are reflooring your kitchen, you can calculate your budget by looking at the project’s cost per square foot.
If you are concerned about your budget for any project, HM Remodeling is happy to help. For most projects, we can provide a free estimate so that you can better determine the scope of the project and select the services that will be within your budget.
Need more help with planning or budgeting your project? Contact us at (203) 350-0062 and we can help.