Renovation - Page 2 of 4 - Home Decor Ideas

10 Things You Need To Know Before Starting Any Home Renovation Project

July 28, 2022

by Jerry Schmidt Home Improvement

This post is sponsored and contributed by Thumbtack, a Patch Brand Partner.

Home renovations can add functionality, comfort and value to your home. Of course, home renovations can also be costly, and if you want to get the best return on your investment, there are some key factors to consider.

We talked to David Steckel, a home expert at Thumbtack, about what projects homeowners should prioritize and the best way to get the work done efficiently and on budget. Keep reading for 10 things Steckel says every homeowner should consider before starting any home renovation project.

1. Updating Key Areas Doesn’t Have To Blow Your Budget

Homeowners know that updating bathrooms and kitchens is a good investment because not only are the spaces more comfortable, but these rooms — when updated thoughtfully — can help sell a home. But what if you’re on a budget? Steckel says these areas are great to focus on because you can keep the same layout, while focusing on minor updates that will maximize your return financially and aesthetically.

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To make a big impact without blowing your budget, Steckel suggests the following:

Give the space a facelift: Instead of gutting your whole kitchen, just go for a dramatic face lift by changing the counters and having the same material run up the backsplash. You can also paint the cabinets, change the hardware and add some under cabinet lighting as additional upgrades to transform the space. “You will be amazed by how big of a difference these small changes can make,” Steckel says.

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Upgrade appliances: Changing out your appliances adds a significant amount of value — plus, Steckel notes, if you buy multiple units from the same manufacturer, you can likely get a bundled discount.

Update kitchen islands: If you only want to upgrade one part of your kitchen, Steckel suggests focusing on the island. “Change the counter to a butcher block and paint the island a different color than the rest of your space,” Steckel advises. “Add some new pendant lights and you’ll see how easily you can breathe new life into your space.”

Switch out fixtures: “Plumbing and lighting fixtures tend to be high ticket decor items — you can easily spend over $1,000 per unit!” Steckel says, adding that he suggests bringing your inspiration photos to suppliers as they’ll often have units for half the cost.

Use paint to freshen up a space: “Repainting a bathroom is a quick and budget-friendly way to refresh your space. If your room has intricate trim work, I would suggest working with a pro to ensure you get the outcome you’re looking for. The national average cost to paint a single room is $917*,” Steckel says, adding, “You can also add wallpaper to give a bathroom a more whimsical feel.”

Change your flooring: Another great way to upgrade your bathroom is by installing new flooring. Depending on the type of flooring you choose, you may pay anywhere from $1-$22 per square foot for installations, says Steckel. Plus, the design options are endless — vinyl tile, laminate, natural hardwood, engineered hardwood, ceramic, marble, stone tiles, slab stone, epoxy and more.

“Kitchens and bathrooms have an immediate return on investment if you are looking to resell your home right away,” he says. “You can also use these renovations as leverage to increase your loan-to-value amount, especially if you just bought your home.”

2. Splurging On Some Projects Makes Sense

For homeowners ready to take on bigger projects, Steckel says turning an unfinished basement into a finished basement is typically the most cost-effective option that will add the greatest amount of value to a home — as all of the structural and major systems work is already in place. The average basement remodel costs $18,500, but costs can vary from $5,000 to $70,000 depending on the project.

And, Steckel says, “Renovations that increase the size of a home, like creating additional outdoor space with multiple functions or increasing the functionality of spaces, will always add value to a home.”

3. Remembering Final Touches Will Solidify Your Style

You’ve considered new appliances, lighting and paint, but Steckel says hardware is often the last thing homeowners think about when renovating their homes. These small details can actually end up being a substantial line item on the overall renovation.

“Hardware on kitchen cabinets, entry doors, door stoppers or hinges can add a luxurious feeling to your home and create privacy settings on your interior doors,” he says. “These final touches should be considered as architectural details used to solidify and bolster the effect of the specific style and aesthetic you’re trying to achieve.”

4. Freshening Up Minor Elements Can Have A Big Impact

Hardscape And Yard Updates

Freshen up your home for outdoor entertaining season with a few quick projects that will make all the difference, he says. Power washing the hardscape, cleaning the furniture, sealing whatever needs to be sealed, cutting in fresh lines to the garden beds, adding some mulch, aerating and seeding the grass and touching up any exterior paint, Steckel says can have a big impact.

He also suggests that before inviting friends and family over for an outdoor gathering, it’s important to inspect your patio or deck for cracks and peeling paint. This damage could mean you are due for repairs or repainting. The average national cost of deck and porch repairs ranges from $250-$1,200.

Regular Home Maintenance

Maintenance projects will always add value to your home, Steckel explains. “Consistent projects on your home add value because they protect larger-scale investment items, such as HVAC repairs and weekly lawn and garden care. Home projects that are more visual, such as deep cleaning or pressure washing, will also increase the value of a home.”

Aesthetic updates, such as changing shingles from asphalt to cedar, gutters and sheet metal to copper, interior paint upgrades and kitchen appliance and bathroom updates are also great updates to make, he says. “Lastly, projects that add square footage to the indoor or outdoor areas of the home will always increase the value of a home.”

5. Maximizing Livable Space Matters

Because most people tend to focus on the interior when they move into a new home or during renovations, they can oftentimes leave exterior projects on the backburner, Steckel says., “And because there has been so much momentum in the housing market over the last few years, we’re seeing a lift in exterior focused projects as homeowners look to continue maximizing their livable square footage,” he adds.

The first — and most significant and costly — phase of exterior renovations is typically creating a framework for the space, or hardscaping, such as adding a deck, building a fence or landscaping, he says. “As more people settle into their homes, we’re now seeing an uptick of homeowners entering into phase two where they’re looking to elevate their spaces beyond furniture and decor with larger ticket items that couldn’t fit into their phase one budget, like a hot tub or gazebo,” Steckel says “In fact, gazebo installation and construction is among the highest trending categories, up 102{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} year-over-year — and up 381{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} in the past three months.”

As homeowners look to create new and different areas to spend time outdoors, Steckel suggests other renovations to consider include outdoor kitchens or patio awnings — which are up 121{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} over the past three months — as well as more thoughtful conversation spaces — such as built-in gas fire pits or outdoor bar areas.

6. Updating Basements Pays Off

If you only have one space you can renovate, Steckel says the basement is the one to focus on — and depending on your budget, you have options for how extensive you choose to make the changes.

“I would suggest that a basement ‘facelift or refresh’ — think painting, some flooring, and new fixtures, AV and furniture — could cost around $35 per square foot; a renovation around $80 per square foot — think moving walls, new floors, lighting, trim, re-doing the bathroom, moving the mechanical room or ducts or upgrading appliances; and a reno plus underpinning can easily exceed $150 per square foot — lower the basement a couple feet, put in a heated floor system, full gut and everything new.”

7. Renovating For Functionality Increases Value

“One aspect of renovations that can put your home at risk of decreasing its value is always in the design,” Steckel advises. “When renovating your home, you should stay away from choosing finishes that are the ‘trend of the moment’ or very specific to your taste. The more general your design and finishes can be, the more buyers it will attract.”

In order to avoid decreasing the value of a home, Steckel says you should keep in mind that the ultimate goal of making upgrades and renovations is to improve the overall functionality of the spaces within the home.

“Homeowners must choose wisely when selecting everything from the layout, contractor, paint colors, finishes and more,” he says.

RELATED: How much does painting cost?

8. Knowing Your Priorities For A Project Is Key

“The best way to save money with any project is to plan ahead and this is where the rule of three comes in handy — you can choose only two of the following: speed, quality, pricing. If pricing is your priority focus, you’re going to have to give up on either speed or quality,” Steckel explains. “Aligning on your key priorities will go a long way during the project. It is crucial that homeowners spend a lot of time in the planning phase and building their team. Thumbtack is the perfect place to find the professionals you might need, which depending on your scope can include a landscape architect, designer and general contractor.”

Below are four key tips Steckel suggests homeowners consider to ensure they’re successfully planning ahead for projects:

Tip No. 1: Haste makes waste. The number one mistake that homeowners make is rushing to begin their job, he says. Every day that you spend planning, hiring your team, selecting finishes, value engineering, etc., takes days — if not weeks — off the duration of the job. “There should almost never be any surprises when doing a renovation. During the planning phase, your team should figure out and pressure test most potential surprises. Doing this well is the only way to accurately price your job and it is the only way to make sure there are no surprises.”

Tip No. 2: Finish selections are key. We recommend committing to as many of your material selections — flooring, countertops, paint, etc. — as possible on paper before the project starts, Steckel says. “This way you’ll have time to find alternatives before they’re needed onsite, especially considering current supply chain issues caused by high demands for home projects. It is also important for your contractor to know your preferences for materials so that they can keep it top of mind during the build. For instance, if you want a heated floor or marble in the bathroom, the contractor will have to actually lower the bathroom floor to make sure it is flush with the hallway or bedroom beyond it.”

Tip No. 3: Leverage the pros. Encourage your remodel team to make suggestions, and make sure they perform a “value engineering exercise,” where they analyze what the requirements of the project will be before beginning construction, Steckel expertly advises. “Leveraging the experience and knowledge of the team you’ve hired is key.”

Tip No. 4: Don’t cut corners. “Try not to be pennywise and pound foolish. Sometimes it might seem like a financially good decision for you to go directly to a supplier that you found online,” Steckel explains. “We would not recommend going direct for anything that goes behind a wall or ceiling or is not easily replaced by a DIY method. Your contractor is not going to provide a warranty on anything that they do not supply, so if you do purchase something from an unknown supplier with a long lead time and it ends up breaking or being dysfunctional, you will be responsible for purchasing another one and awaiting delivery again. This will cost you more in the long run.”

We recommend compiling at least 20 inspiration images and putting them into a folder or saving them on a Pinterest board, says Steckel. “This will be helpful in the long run as it will help your renovation team organically determine your aesthetic expectations and also help them anticipate additional costs for your scope of work. Always be sure to share this with your renovation team to ensure they understand your expectations at the outset and you don’t get hit with these costs in the middle of a project.”

9. Avoiding Costly Mistakes Requires Diligence

At times it may seem cheaper to take on a DIY task, mistakes made can often make those initial savings obsolete, Steckel says. Hiring a pro and planning are essential to an effective home renovation. “Spend as much time as possible planning on paper before you start tearing up the place,” he says. “Every day you spend planning saves you at least that much once the project starts.” Here are some of Steckel’s top tips:

1. Hire the most appropriate team for your job. Appropriate can mean only specialty and licensed trades as legally required since you’re hoping to manage the project and DIY some of it yourself or it can mean going for the “Cadillac” version of a GC, architect and designer.

2. Make sure you’ve checked with your HOA, board, city for any and all base building contractors or local requirements that you must adhere to.

3. Double check all your dimensions, put tape on the floors to mark out walls and furniture. It’s always a great way to be able to visualize the space.

4. Ensure you cost out and double check availability for at least 80{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of the finishes and, of course, make sure you have your financing sorted out.

5. Depending on the scope of your project, you’ll want to pack up anything that is small, on a wall, on furniture and of course anything that will impede the pros you’ve hired. With a small space, you’re probably going to have to move everything in there about four times throughout the project, so ensure everyone’s life is as easy as possible by packing well.

10. Hiring Top-Rated Professionals Gets The Job Done Right

Steckel says there are a range of home projects and tasks that homeowners can do on their own to ensure everything throughout their home is maintained and running smoothly in between visits from home experts — both inside and outside the house. However, he says when it comes to more technical or larger scale projects, homeowners should consider hiring a professional to complete at least parts of the project, since hiring a pro to fix a failed DIY project tends to be more expensive than having a pro out to do the project from the start.

That’s where Thumbtack comes in. From the get-go, you can find top-rated pros for any home improvement projects with the Thumbtack app. Whether you need a house cleaner or a handy professional to complete small projects around your home or a general contractor for a major renovation, Thumbtack can connect you with the local professionals you need to to complete any task. And for more personalized service, the Thumbtack membership program offers one-on-one guidance from a home specialist for the duration of your home renovation project — from planning and budgeting to hiring the right professional for the job, the Thumbtack membership program takes the guesswork out of your repair, maintenance and home improvement projects.

*A note about project costs featured in this article: Figures represent national average cost estimates using data provided by Thumbtack pros and additional research. These figures are provided for educational purposes only and are subject to change at any time due to various factors. Details about your specific project and local rates can impact costs.

This post is sponsored and contributed by Thumbtack, a Patch Brand Partner.

Home renovation: Lifestyle changes, aging homes, rising prices spur record spending | Science & Environment

May 10, 2022

by Jerry Schmidt Home Improvement

About a year after the onset of the pandemic, Kathy Lange-Novak and her husband, Frank Novak, decided it was time to update their Fitchburg home.

After 26 years, the floors, countertops and appliances were showing their age, and the couple thought they needed to upgrade before putting the house on the market.

“This is the first time we’ve remodeled anything,” Kathy said. “It needed an overhaul.”

Like so many Americans, the recently retired couple had spent most of the past year at home as COVID-19 health restrictions limited their social activities.

“It’s one thing when you go, ‘We could really use new carpeting, but we can go to the movies,’” and forget about it, Lange-Novak said. “When you have to look at it — that’s when you think, ‘I really need to do something about it.’”

Home remodeling — P.J. Ender, lead carpenter for Degnan Design-Build-Remodel in DeForest, works in the kitchen of a Middleton home undergoing a complete first-floor remodel. U.S. homeowners are expected to spend a record $430 billion this year on renovations.

JOHN HART, STATE JOURNAL

Spurred by a housing shortage, aging structures and occupants, and months spent cooped up indoors, U.S. homeowners spent nearly $370 billion last year updating and renovating their homes, according to Harvard University’s Joint Center for Housing Studies. That record number is expected to top $430 billion this year, a whopping 28{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} increase from 2020 spending levels.

“It’s a big market,” said Abbe Will, a senior researcher at the center, which has been tracking residential remodeling for nearly three decades.

While there are multiple factors, Will said lifestyle changes brought about by the pandemic have only encouraged more home improvement spending, as people seek to make homes fit their changing needs — whether that’s working from home or just spending more time there.

“Homeowners (want) to maximize every inch of space they have when they’re spending so much more time at home,” Will said.

‘A building crescendo’

Initially, 2020 looked to be another year of modest growth for the home remodeling industry, until the shutdown of most nonessential services in March brought projects to a halt. But builders say their phones started ringing again that summer as people realized the pandemic wasn’t going away.

“It’s just been a building crescendo of work,” said Chad Speight, owner and president of Chad’s Design-Build in Madison. “We started to see an uptick in demand as people were stuck at home staring at whatever needed to be improved or replaced.”

Abe Degnan, owner of Degnan Design-Build-Remodel in DeForest, said people are looking to make their homes bigger, create spaces for work or recreation, redo bathrooms and kitchens and generally make their homes more comfortable.

“People are eating out less and cooking more,” Degnan said. “Things they used to ignore … are driving them crazy.”

The unprecedented demand, combined with labor shortages and supply chain issues, has resulted in lead times of one or even two years and project delays.

Speight said he’s basically booked through next year, even with a couple of new employees. “We would hire more carpenters right now if we could,” he said.

Jonathan Graves, co-owner of Ironwood Construction in Madison, said he’s been so busy the past two years that he’s had to turn away new clients.

“We could not keep up,” he said. “We had to pick and choose our jobs.”

Material shortages and volatile pricing have also created logistical challenges.

Lumber prices quadrupled in the spring of 2021 amid surging demand and supply chain constraints and are still more than double pre-pandemic levels. That had ripple effects on manufactured materials like windows and cabinets.

Speight said suppliers used to give contractors a month or two notice of annual price increases.

“Now we get notification on Thursday that prices are going up tomorrow,” he said. “Take it or leave it.”

Extra incentive

Joanna Ivey and Jack Gordon got a lesson in supply-chain management this spring, midway through a major home renovation.

After nearly a decade, Ivey said 2020 was the year she finally decided to remodel her 64-year-old West Side ranch.

“We kind of had this vision since we moved in. We just didn’t have the money to do it when the kids were little,” she said. “The kitchen was literally falling apart.”

Ivey ran her graphic design firm from home even before the pandemic, but the lockdown provided some extra incentive to remodel the kitchen and living space.

“You just stare at it all the time,” she said. “We’re not having people over.”

Ivey started interviewing contractors in November 2020, and construction started in January, a full year after signing a contract. The work was supposed to be done by early April, but the cabinets didn’t arrive on time.

“They didn’t have the wood, which is nuts to me,” she said.

Ivey said the project should be done in time for her son’s graduation party in June, and despite living without a kitchen for six months, “it will absolutely be worth it.”

“It’s a ranch, so it will be great for retirement and beyond,” she said. “It’s the perfect house and the perfect location.”

Other forces

While the pandemic was a catalyst for many home renovation projects, it’s hardly the only factor.

Since the housing market crash that triggered the recession of 2008-2009, U.S. homebuilders simply haven’t kept pace with demand. In fact, spending on home repair and maintenance has outpaced new homebuilding.

“We’re not building enough to meet the demand, and that puts a lot of pressure on the existing housing stock,” Will said.

At the same time, Americans move about half as often as they did three decades ago, according to Census Bureau data. Homeowners are even less mobile, moving just once every 20 years on average.

And over the past couple of years most homeowners have refinanced at historically low interest rates, creating yet another incentive to stay put, said Mark Eppli, director of the James A. Graaskamp Center for Real Estate at the Wisconsin School of Business.

That means Baby Boomers are sticking around — or “aging in place” — at a time when millions of millennials each year are reaching the traditional home-buying age, contributing to additional pressure on housing prices.

And because of soaring prices, Will said the average homeowner has accumulated hundreds of thousands of dollars in equity that they can use to finance their improvements.

So long as the bottleneck persists, property values will continue to rise, which is good for homeowners but bad news for millennials and others who find themselves priced out of the market and unable to accumulate property wealth.

“It makes it more difficult for that first-time homebuyer to enter the market,” Eppli said. “There’s not much of a silver lining for that group.”

In 'frenzy' of housing market, buyers take risks or risk losing out

Driven by demographic shifts, economic forces and the societal changes wrought by the COVID-19 pandemic, Wisconsin home prices are soaring, forcing home buyers to take unprecedented risks.

The march of time

Just as more homeowners are aging in place, their homes are also aging.

Most Wisconsin homes are more than 40 years old, according to Census Bureau data, and more than a third were built before 1960. That’s a lot of roofs, siding and carpeting that needs to be replaced. And a lot of homes built for a different lifestyle.

Consider Mark McFadden and Heidi Kent’s Near East Side bungalow. The only bathroom is on the second floor, and the kitchen can comfortably accommodate one, which may have been fine when the home was built in 1919.

“The kitchen was treated as this very utilitarian environment,” McFadden said. “When I go over to friends’ houses … I expect to spend time in the kitchen.”

Assuming the materials are available, McFadden and Kent hope to start work this summer on a long-planned renovation to enlarge the kitchen, add a main floor bath and make the home more accessible.

An internet security consultant, McFadden has worked from home for decades and said the pandemic wasn’t really a factor in their decision, though it has affected the timing of the job.

“The planning is done. Everything is ordered,” he said. “Now it’s mostly a waiting game.”

McFadden, 66, said he and Kent love the neighborhood and want to make their home “a more wonderful place for us to spend the rest of our lives.”

“We’re not interested in accumulating property wealth,” McFadden said. “We’re interested in having a house that’s more comfortable … easier for older people to get around.”

Kathy Lange-Novak had different ideas when she embarked on her home renovations last year. She figured fixing up the home was a prerequisite for selling it a few years from now.

But now that the work is done, Lange-Novak said she doesn’t want to leave.

“Being home a lot made us say, ‘Let’s fix it up,’” she said. “Fixing it up has made us want to stay home more.”

Photos: Smelling a rare corpse flower bloom

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Planning a home improvement project? A kitchen renovation can increase your home’s value by 20{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}, according to Royal LePage experts

May 5, 2022

by Jerry Schmidt Home Improvement

Survey highlights:

Royal LePage professionals say, on average, bathroom renovations can increase the value of a home by 16{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}
Finished basements and basement apartments have the potential to increase a home’s value by 15{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}, according to survey results
Outdoor entertaining space and landscaping have the potential to increase a property’s value by an average of 10{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}, according to respondents
For Canadians looking for general guidance on where to invest in their home renovation projects, 87{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of surveyed experts recommend interior renovations

TORONTO, May 5, 2022 /CNW/ – According to a recent Royal LePage survey of 340 real estate professionals across the country, a kitchen renovation is the most worthwhile home improvement project. Respondents say that, on average, a kitchen renovation has the potential to increase a property’s value by 20 per cent. A bathroom renovation ranked second, with the potential to increase a home’s value by an average of 16 per cent.

“Kitchen renovations typically yield the greatest return on investment, as this space is most frequently used, and is perceived as the gathering place and the heart of the home,” said Mike Heddle, broker and team leader, Royal LePage State Realty. “When a potential buyer views a home for the first time, the one thing that will stand out – for better or worse – is what the kitchen looked and felt like. They may not remember the size of the bedrooms or the colour of the walls, but they will remember the kitchen.”

Heddle noted that investing in upgrades to your home can be beneficial whether or not you are planning to sell in the short term.

“During the pandemic, many Canadian homeowners used built-up savings to make improvements to their homes. Whether it’s a new kitchen or upgrading your outdoor space, home renovations are a worthwhile investment, as you and your family will enjoy the new space, in addition to the potential increase to the overall property value.”

Exterior projects such as an outdoor entertaining space or landscaping have the potential to increase a property’s value by an average of 10 per cent.

The survey showed that basement renovations ranked third (finished basement) and fourth (basement apartment). Royal LePage experts say that finished basements and basement apartments have the potential to increase a home’s value by an average of 15 per cent.

“In today’s market, investing in a basement apartment can greatly increase the value of a home, largely because it can help offset mortgage costs with a rental unit, or appeal to newcomers looking for multigenerational homes,” said Heddle. “Since the onset of the pandemic, we are also noticing senior homeowners looking at multigenerational opportunities to live under the same roof. Having an additional fully livable unit allows for more privacy for those families.”

According to survey respondents, window replacements can increase the value of a home by 13 per cent, and interior painting can increase the value of a home by 12 per cent, on average.

“While updating the kitchen or a bathroom can increase your sales price more significantly, minor upgrades such as interior painting can be a simple and cost-effective option to increase the value of the home.”

For Canadians looking for general guidance on where to invest in their home renovation projects, the vast majority of surveyed experts (87{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}) recommend interior renovations.

The majority of surveyed experts (59{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}) say that prospective sellers have been less inclined to renovate their homes prior to listing since the onset of the pandemic, due to sustained seller’s market conditions. Additionally, 57 per cent say that sellers may choose not to renovate, due to recent increases in the cost of construction materials and labour.

“Properties that are turnkey with modern finishes spend less time on the market,” said Heddle. “However, the timeframe and logistics for delivery of goods and materials may be a deterrent for many sellers, especially with the rising costs associated with renovation projects.”

Investing in a pool is considered the least worthwhile renovation to increase a property’s value. According to the survey, a pool can increase a home’s value by an average of only six per cent.

Royal LePage Survey: Home Renovation ROI – Data chart: rlp.ca/chart-home-renovation-ROI

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Royal LePage’s media room contains royalty-free assets, such as images and b-roll, that are free for media use.

About the Home Renovation ROI Survey

A national online survey of 340 Royal LePage brokers and sales representatives in real estate markets across Canada was conducted between February 17th, 2022, and March 14th, 2022. Each respondent was asked to complete an online survey composed of seven questions pertaining to the value of popular home renovation projects.

About Royal LePage

Serving Canadians since 1913, Royal LePage is the country’s leading provider of services to real estate brokerages, with a network of more than 19,000 real estate professionals in over 600 locations nationwide. Royal LePage is the only Canadian real estate company to have its own charitable foundation, the Royal LePage Shelter Foundation, dedicated to supporting women’s and children’s shelters and educational programs aimed at ending domestic violence. Royal LePage is a Bridgemarq Real Estate Services Inc. company, a TSX-listed corporation trading under the symbol TSX:BRE. For more information, please visit www.royallepage.ca.

SOURCE Royal LePage Real Estate Services

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View original content: http://www.newswire.ca/en/releases/archive/May2022/05/c4938.html

These home renovation projects get the best return on investment

April 17, 2022

by Jerry Schmidt Home Improvement

But even if you are renovating a residence to dwell in it, it is nevertheless critical to know what you can assume to recoup from people upgrades and advancements and what will inevitably shell out off when it arrives time to sell. Owners that in excess of-renovate a residence might not get the price of the enhancement back.

For case in point, it really is not the spa-like lavatory or the journal-deserving custom kitchen area that give the very best return on investment, according to a new report on the influence of household transforming from the Countrywide Association of Realtors and the Countrywide Association of the Remodeling Market.

In its place, the inside initiatives that recoup the most are refinishing hardwood floors and putting in new hardwood flooring.

The report estimates the expense of refinishing floors at $3,400 with an believed return on financial investment of $5,000, for a 147{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} restoration of expenses. The approximated expense of putting in hardwood floors is bigger at $5,000, but with a $6,500 return on investment decision, 118{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of the value is recovered, according to the exploration.

Meanwhile, the charge of a desire venture — like the addition of a new most important bed room suite — can be an believed $182,000, with only about $100,000 of that charge recovered, making the return on investment decision the most affordable of the projects evaluated at 56{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}.

Best ROI on projects

Immediately after refinishing flooring and new hardwood, the subsequent greatest return on financial investment was yet another decidedly unsexy job: an insulation up grade. Priced at an estimated $2,500, all of that expense is envisioned to be recovered for a 100{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} return.

Householders who do total kitchen and tub renovations can expect to recoup all around 75{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of people charges, in accordance to the report. With an estimated price of about $80,000, a total kitchen area renovation recoups about $60,000, and householders can assume to recuperate about $25,000 of a $35,000 rest room renovation, about 71{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of the project’s price tag.

Renovating a basement into a dwelling room offers a bit superior fee of a return. At an approximated expense of $57,500, householders can recoup 86{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of that project’s price tag.

As for exterior home advancements, the tasks with the most effective return on investment are changing the roof and the garage doors, with both equally recouping all their charges.

Homeowners can expect to get back about 86{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of the prices of setting up vinyl siding and 67{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of vinyl home windows, but only 63{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of wooden windows.

The true cost of each individual transforming challenge and value recovery are motivated by a lot of elements, which include challenge style and design, top quality of elements, location, age and situation of the dwelling, and house owner choices.

“Really usually, an extra gain to household renovations is the risk of an increase in the home’s worth, which is a cause why some individuals transform,” mentioned Lautz. “This is specially useful to a house owner who might be looking at selling their home or converting the home to a rental assets.”

Who is reworking and why

Whilst the pandemic place a great deal of the financial state on pause, household renovations boomed as property owners reconfigured their dwelling for new uses like work and university, even as the cost of components and labor rose.

Individuals spent $420 billion in 2020 on reworking their households and practically all NARI associates discovered a bigger demand in contracting in reworking operate that yr.

Of house owners surveyed, 35{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} hired specialists for the whole job, 28{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} hired the labor but procured the materials, and 22{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} did the complete undertaking by themselves.

“Owners are inclined to undertake a remodeling job for any quantity of factors,” reported Jessica Lautz, vice president of demographics and behavioral insights at NAR. “In some occasions, householders were written content with sprucing up a place with a simple paint career, while in other cases, family members decided to acquire on the job of renovating an total attic or basement to add supplemental dwelling space to their residence.”

About 35{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of those surveyed reported the most essential final result from their remodel was better performance and livability. All-around 22{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} explained they had long lasting and prolonged-long lasting success, materials and appliances, and 14{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} documented splendor and aesthetics as a result of their remodel.

“The pandemic has changed the way we use our households, and several of all those alterations are in this article to stay,” explained Lautz. “As a outcome, house owners needed to reconfigure or rework how they use their home and increase area.”

South Hills Home Show gives residents “one-stop-shop” for renovation | South Hills Living

March 6, 2022

by Jerry Schmidt Home Improvement

By Trista Thurston

Although trapped at home through the pandemic, lots of of us seemed at our surroundings and questioned, “how can I make this greater?”

Renovation tasks and gardening alike flourished in the course of lockdown orders, and the momentum does not look to be slowing down. Now that our recent wave of COVID-19 is seemingly permitting up, folks are coming out of isolation once again to beautify their particular areas.

Expending on residence improvement projects amplified by an average of $745 for each domestic in 2020, according to a HomeAdvisor’s 2021 Condition of House Shelling out report.

With holidays and other journey options place on keep, quite a few individuals place that funds in its place into landscaping, paint, tiles and extra.

Although lots of regular enhancement projects call for the skills of a experienced contractor, many others are quickly a Do it yourself weekend endeavor. No subject your ease and comfort degree or willingness to entire a renovation project, there is one thing for everyone at the future South Hills Household Present.

Display manager Rocco Lamanna said neighborhood house owners will all be in a position to locate something to support with their endeavors no issue what venture they are searching to comprehensive. There will be 200 booths loaded with regional gurus and a significant range of contractors and service vendors. All of the suppliers are community to the area or serve the South Hills, earning it an simple “one-halt-shop” for individuals looking for a assisting hand tackling their household venture.

There’s also more to offer than strictly items in the property improvement arena. Lamanna extra that there are crafts, wine, meals and other farmers market place-esque funds and have style sellers so family members can make a full outing of the show.

Lamanna claimed the trend of wanting to remodel residences considering the fact that we have been stuck in them for so extended has continued, but things are coming back.

Particularly with the most current spike in COVID circumstances easing fairly just lately, men and women are getting more ready to permit contractors and other employees into their individual areas. On the other hand, source chain difficulties and labor shortages still proceed to plague not just the renovation market, but the business local climate as a whole. Regardless of that, Lamanna mentioned points are seeking up, and the approaching expo is a great place to look if you’re hoping to spruce items up.

The ninth yearly South Hills Household Display runs March 18-20 at the Interesting Springs Sporting activities Complex. Hrs are 3-8 p.m. Friday, 10 a.m. to 6 p.m. Saturday and 10 a.m. to 5 p.m. Sunday. Parking and admission are the two cost-free.

Parking is out there in the close by Lowe’s lot, with a absolutely free shuttle operating by means of the duration of the party.

For more details, pay a visit to southhillshomeshow.com.