Be Careful Remodeling Bathrooms $$$

Here is an addition to the previous article.

By Andrea Duchon December 12, 2013 11:25 PM
Pricey Project #2 - Replacing the Bathtub
Budget Alternative: Refacing/Reglazing the Bathtub
If your tub cracks or starts showing signs of wear, you may think that the only solution is out-with-the-old and in-with-the-new. But the experts beg to differ.
While replacing your tub could cost somewhere along the lines of $3000, Veffer says refacing should only cost between $350 and $500, depending on the type of bathtub you currently own.
Refacing - also called reglazing - uses specialized compounds to apply a new coated finish to the tub, according to Veffer.
And if you think that refacing can only be done when your tub is cracked or damaged, think again. Veffer says this option also works if you just want to update your current style.
"This could be just the ticket to transform that old pink tub to a clean, modern look," he adds.

Happy Investing!

Matt W.

There are several cool points that the author brought up in this article that I want to point out.
Enjoy!

By Andrea Duchon December 12, 2013 11:25 PM
Pricey Project #3 - Updating the Floor with Mosaic Tiles
Budget Alternative: Installing a Simple White Tile and Using a Mosaic Rug
"Where simple tiles run between $1.50 to $2 per square foot, fancy mosaic tiles cost up to $50 per square foot," explains Veffer.
So in lieu of fancy mosaic tiles, consider opting for a simple tile, then accessorizing with either a strip of accent tile - which is affordable because you're only using a few strips - or a mosaic rug.
"The best part of using a mosaic rug is that when you're tired of it, you can simply choose a new look without jack hammering up your floor to get it," says Veffer.
To keep a bathroom looking classic and clean, Fairley says homeowners should go with something like white subway tile or a classic hexagon tile.
"Those looks have been popular since the '50s and never really go out of style. When you select something very classic for your bathroom tile, you'll save money but it will still look upscale," says Fairley.

Happy Investing.

Matt W.

A continuation to the article that talks about the bathroom sink and what you can do to save money. Hope this helps.

By Andrea Duchon December 12, 2013 11:25 PM
Pricey Project #4 - Replacing Sink
Budget Alternative: Update Your Faucet
It's easy to flip through magazines or home design websites and get tempted to overhaul your single, lonely sink into a double sink situation. But Veffer says this project could get complicated and costly.
"Often this type of upgrade requires new base cabinets as well as new countertops, which can quickly become expensive," Veffer explains.
Instead, he recommends changing out your faucet to something more modern and functional.
"A beautiful faucet is like jewelry in the bathroom and can be a major focal point if done right," he adds. "Plus, it won't require a trip to see your bank manager, as a brand new faucet costs around $300 versus upwards of $2000 for a new granite counter and double sink with base cabinets."

Here is the final installment on this article.
I broke it up so it would be easier to read and so that it would be in separate topics.
Enjoy.

By Andrea Duchon December 12, 2013 11:25 PM
Pricey Project #5 - Replacing Your Countertops
Budget Alternative: Upgrade Your Hardware
When you start analyzing the pieces of an impending bathroom remodel, it's easy to suddenly feel the urge to rip everything out and start from scratch. But instead of swapping out your countertop, have you ever considered changing the fixtures instead?
Fairley says changing out your lighting fixtures, mirrors and hardware gives your bathroom an entirely new look - with a smaller investment in both time and money.
"The amount you'd save in replacing your hardware versus replacing your countertops really depends on how many things you change and the fixtures you choose," she continues. That said, she adds that it's safe to say you could save more than $100 by swapping out your hardware versus your countertops.
To get this project started, Fairley says a homeowner will typically do some shopping on their own and choose the hardware they like before installing it.
"Most home stores have great selections these days and I see a lot of homeowners going online to shop for special touches. From there, a savvy DIY'er could install each of these pieces themselves by following the directions, but calling in a contractor will get the job done in a fraction of the time and at a fairly low cost."
From a design perspective, Fairley says that chunky or ornate fixtures can date your bathroom, so focus on choosing simple and streamlined alternatives that will give your bathroom a sleek and modern update.

Happy Investing.

Matt W.

Thanks coach for sharing this great info. I had to save this real quick and I will definitely refer back to this when I acquire my own property. I'm glad I stumbled upon this post.

Good luck in your investing!!

This is very good info!

Karen

Compliments to Matt for several great bathroom suggestions. While I have not tried all of these suggestions, the ones I have tried are definitely solid workable suggestions that can make a bathroom look fresh and new.
With all the money you will save on bathroom projects, here are the things that you should pay the greatest attention to, that sell bathrooms. Here's the top 4 list:
1) Lighting--Lighting should be updated, and is not usually a high cost. Mirror areas should be very well lit, but not make you feel that you are under interrogation. Ladies, in particular need to see detail.
2) Cabinet Space--A recent publication indicated that the average woman's bathroom has over 300 items in it. Of course, many women would debate that number, but having space for all the bottles and tubes of lotions and potions and creams and conditioners is greatly appreciated. That little extra cabinet you put in for that purpose could be the happiest surprise in the whole house for a buyer.
3) Mirrors--Good, well-lit mirrors are an essential. Generally opt for the bigger mirror, and if you can have supplementary mirrors on other walls, or the door, that helps too.
4) Sinks--Having an extra sink is almost like adding an extra bathroom, especially if there are multiple women in the family. If the bathroom supports it, I would add an extra sink more readily than upgrading other fixtures.
They say that it is kitchens that sell houses, but I would argue that a couple of unexpected happy surprises in the bathroom would be a close second.

Great comments on the bathroom issues.
Anytime you can increase the bathroom sinks will be a huge benefit to increase the "Pop" of your bathroom. Cabinet Space, and Sinks are huge. Appeal to the extra space. Mirrors are also a great idea because that makes the room appear bigger, brighter, and gives you all the angles that one would need for make-up and hair.
Thanks again for the comments.

Happy Investing.

Matt W.

When you’re planning improvement to your property do you know which ones will pay off when you rent it or sell and which won’t? Sure, bathrooms and kitchens are the core of the house and they have to be in good shape. However, those projects can be very expensive and by the time you done, they may not be the best on a dollar for dollar basis.

Somebody actually studies these issues. Remodeling Magazine conducts an extraordinary survey of a long list of typical home projects and costs them out by region. Then it asks a sampling of Realtors to rank the value of each in a home listed for sale today. Finally it computes the cost vs. bottom line value of each project.

Home Improvement Projects on the Rebound

With the housing recovery, home improvement projects generally are paying off better as higher prices help pay back the costs incurred by investors and owners. For 2014, the cost-value ratio stands at 66.1%, a jump of 5.5 points over last year and the largest increase since 2005, when the ratio jumped 6.1 points to reach its high of 86.7%,

In other words, you’ll recoup an average of only two thirds of your expenditure in terms of the value of your property when you either sell or refinance. As home prices rise, so are the values of remodeling projects.

This year’s winner in the midrange category was removing existing an entry door and jambs and replace with new 20-gauge steel unit, including clear dual-pane half-glass panel, jambs, and aluminum threshold with composite stop. Total cost was $1,162, value to the home was $1,122 and it almost returned every penny for a 96.6% recoup ratio.

In the expensive category, the top project was replacing 1,250 square feet of existing siding with new fiber-cement siding, factory primed and factory painted. Include all 4/4 and 5/4 trim using either fiber-cement boards or cellular PVC. Cost was $13,378, added value to the home was $11,645 and the recoup ratio was 87.0%.

At the other end of the spectrum, the biggest waste of your home improvement budget would be a home office remodel, at $28,000, increasing the value by only $13,697 for a recoup ratio of 48.9%.

Constructions costs rose slightly year but improved resale value of residential housing had more of an influence in the cost-value ratio. A modest 2.2% increase in average national construction costs was more than offset by an 11.5% improvement in average national resale value. This reverses a trend that began in 2010–11, when construction costs dropped dramatically, but resale values dropped even more, driving the ratio down. The situation began to change in 2013, when lower costs were mainly responsible for across-the-board improvement in the cost-value ratio. While this was good news for the remodeling market, costs remained volatile and housing values had yet to stabilize. In what is perhaps the most positive sign in this year’s data, rising resale value is driving the overall market improvement.

Contractor Shortage?

If you’re planning a project this spring, it would be a good idea to line up your contractors now. The same home price recovery that is making projects more cost effective for owners is filling the dance cards of contractors. The home remodeling market should see strong growth in 2014, according to Leading Indicator of Remodeling Activity (LIRA) by the Remodeling Futures Program at the Joint Center for Housing Studies at Harvard University. The double-digit gains in annual home improvement spending projected for the first half of the year should moderate some to just under 10 percent by the third quarter.

“As owners gain more confidence in the housing market, they are likely to undertake home improvements that they have deferred,” says Eric S. Belsky, managing director of the Joint Center. smichael

For the past few years, remodels have been based more on necessity than enhancement. People are not usually willing to spend alot of money on an improvement unless: A) They really need it; 2) They expect to get a good return on it in the future.
Lifestyle is also affected during economic challenges, and as things improve generally, people are more willing to improve their lifestyle, which often involves enhancement to their home.
It is likely over the next few years that we will see the value of decks and landscaping and sunroom additions, etc. increasing in return value and frequency. For several years, during the economic boom in the early 2000's the addition of decks was the highest return on investment. This is a time to start looking at the amenities of the home, and the way people use indoor and outdoor space for life enhancement rather than just life necessity. Don't be reckless with spending, but start considering home theater and entertainment space as areas that are coming back into the general consciousness.
I believe I mentioned either above, or elsewhere that the best return projects right now are what I would call "first impression" improvements like a new front door, or new siding, etc. If there is one place to invest a little more, it is on the first impression right now.

Do you ever wonder what it would cost to create a bathroom you look forward to seeing in the morning?

Nationwide, the average cost of a bathroom remodel or addition, according to Houzz.com survey data from over the past five years, is $11,300. The majority of home purchases in the U.S. are for existing homes, and bathroom renovation is high on the list of projects for new home-buyers and existing homeowners alike.

While bathrooms are a focus, homeowners in the nine major regions of the U.S. are investing at different levels to get the upgrades they want and can afford. Homeowners in the Pacific region are spending the most -- $14,200. Close behind are Mid-Atlantic and New England residents at $13,800 and $13,200 respectively. Homeowner spend on bathroom remodeling in the South Atlantic region, at $10,700, falls short of the national average. Those surveyed in the Mountain region spent an average $8,400, the lowest of all.

The study found even higher budgets for bathroom upgrades in many metropolitan areas. Orange County, Calif., homeowners invested an average of $17,100, even higher than New Yorkers' $16,000 but not as high as San Franciscans' $18,600 for new bathroom plumbing fixtures, vanities, stone, tile and lighting. Renovated kitchens cost significantly less for homeowners in Oklahoma City, Okla., and Dallas, who paid an average of $6,100 and $9,100 to renovate in their respective cities.
How popular are bathroom remodels?

Bathrooms are the second-most popular remodeling project among U.S. homeowners surveyed, behind kitchen renovation. Thirty-seven percent of Houzz homeowners surveyed remodeled their kitchen in the past five years, and another 48% are planning to remodel their kitchen in the next two years. Interestingly, bathroom remodels are the No. 1 project among homeowners in Los Angeles and Miami, where kitchens falling to second position. Houzz also calculates which remodeling projects are most popular among a community of 10 million monthly users by looking at the number and type of images homeowners are saving to their idea-books. These data also show that bathrooms have the second-largest volume of images saved, just 14% less than kitchen images.
Who's doing the work?

A full three-quarters of all homeowners who renovated a bathroom in the past five years hired a professional to do some or all of the work. From plumbing to electrical to constructing a new footprint, bathroom remodels are significant investments that typically require the help of a licensed professional. Fifty-seven percent of homeowners on Houzz are planning to hire a general contractor; about a third plan to hire a bathroom designer; and another third will be working with an architect.

Many homeowners like to leave all the work on a bathroom to a professional, with 41% reporting that they hired a professional to take on every aspect of their bathroom project. East Coast and California homeowners reported the highest rates of outsourcing kitchen renovations in their entirety to a professional: 51% in Boston, 53% in Los Angeles, 54% in San Francisco, 55% in Washington, D.C., and 60% in New York. Meanwhile, Mountain and Midwestern homeowners are more likely to do at least some of the work themselves, as are Seattle and Detroit homeowners.
What do Americans want in a bathroom?

Popular bathroom details saved to idea-books create a spa-like feel. Freestanding and architectural deep soaking tubs are a favorite indulgence, as are luxurious plumbing fixtures for the bathtub and shower. Coveted color schemes in remodeled bathrooms are neutral in modern and traditional spaces alike, from a palette of browns, to shades of gray, to white on white. People are mixing tiles and creating a focal point with unusual tiles in contrasting colors, tiles with sparkle, and in a different shape or scale than the primary tile choice.

Many homeowners are also opting to build for their specific lifestyle, from incorporating a television, to using only green products, to applying a universal design scheme that will enable them to more easily age in place. LHausman

A whole lot of good info about bathrooms has been shared here. I wanted to put forward one other consideration.
There are a number of bathroom modification techniques that have appeared on the market in recent years--all-in-one tub enclosures as the most prominent. As you look at the work that needs to be done, evaluate the cost of labor for doing highly detailed work in a bathroom vs. using the modifications.
Corollary to that is that there are things that can rejuvenate bathroom components that are structurally intact. I've used regrouting and grout dyeing instead of ripping out perfectly usable and tasteful tile. And tub resurfacing in most cases can make a tub fully functional again.
There are a lot of choices in bathrooms these days. Checking out these choices can often save significant money on bathroom updates.