Friday, May 22, 2015

House Construction Cost Estimates to Calculate the Return on Your Investment

Planning of remodeling a house to increase home its curb appeal? Return on investment calculations for renovation is complex and inaccurate. That doesn't mean you shouldn't do home improvements to enhance home value, but you should do in-depth research first. Once you know an exact cost estimate for a home improvement project, consider the return value in terms of both personal satisfaction and real estate value. Neither can be correctly calculated but you can reach a rough house construction cost estimates of the return on investment. Look for an expert advice and reliable figures, but also and always remember the real estate rule: Home value always relies on location, location and location.
 



Where to Research Before Renovating a House
 
The annual Cost vs. Value Report is the most reliable and widely used guide to calculate return on home remodeling investments. Many Remodeling Magazines publish the guide based on surveys conducted with the help of realtors. The surveys ask about the changes in expected resale value based on specific renovation projects. The results states that the worst return on investment comes from a home office remodel, which recovers just 50 percent of the cost.
 
So, you should pay attention to the cost estimates for each project on the Cost vs. Value report. Not all renovations offer the same home resale value. A new countertop may raise the home value, but a granite countertop may be almost as valuable to a buyer as a much more expensive Italian marble countertop.
 
Regional Value Differences in Home Improvement and Additions
 
In some particular regions, window replacements are worth more than kitchen and bathroom remodels. While in others, siding replacement slides way down the cost-value scale, and kitchen renovations top the list. However, there are further variations within regions and cities. Therefore, consult local contractors and experienced remodelers about the most famous and valuable projects in your area. Their experiences and house construction cost estimates may differ from the Cost vs. Value report.
 
Before sinking some money into home remodeling projects this year, try to keep a few things in mind. What you'll receive on your investment depends entirely on your home value, the value of houses in your region, the housing market where you live, how soon you sell after making improvements, and the quality of the project itself. Installing a $20,000 stove in a $300,000 house, for example, just doesn’t make sense. Nor does it make sense to remodel your kitchen if your house is the only house in the neighborhood with just one bathroom.
 
The Cost vs. Value report renders valuable estimates for the return on investment of a variety of home remodeling projects, but fixes the numbers based on local expertise.

Tuesday, April 21, 2015

5 Important Types of Quotes for Home Improvement

There are several different types of home remodeling quotes used by contractors today: estimates, bids, price not to exceed, time plus materials, and hidden damage.

 
Contractor Local Quotes


1.    Estimates
Estimates offer an educated guess about the time and material costs required to finish your medium to large job. Generally, you will be provided with a low and a high number that range within 20% of each other. The benefit is that you pay only the actual cost and no extra mark up to cover eventualities. The drawback is that you are not aware of your exact cost in advance, but if you are comfortable with a price range then you can save money.

2.    Bids
Bid is a contractor quotes for home improvement, labor and materials for your job. This will be the amount you will be charged. The plus point is that you know the exact cost up front. The disadvantage is that because contractor has to plan on unpredicted issues he is going to charge considerably higher than other methods.

3.    Time Plus Materials (T+M)
You have to pay only for the actual time worked and materials purchased. Even if most companies do not allow it, local contractors will advise you on materials to buy and help you create a shopping list so you can buy your materials and does not need to pay contractors for shopping time or warranty markup on the materials you want.
 
The major benefit of this method is that it is the affordable (estimates are always calculated at a higher hourly rate) and fastest way to get many small to medium sized projects done. Moreover, it is easy to expand your to-do list without changing any contracts. The downside is that you do not have a price upfront, but rather an approximate timeframe.

4.    Price Not to Exceed
This is like T+M but provides the homeowner with a price range that will not exceed a given quote. In general, the contractor will offer quotes for home improvement they are sure of, taking all unforeseen events into account. This approach will be slightly more expensive than T+M, but it is your second best choice to cut down your costs on small to medium sized projects.

5.    Hidden Damage
Damage discovered that could not be seen before starting your project is not included. Reliable contractors will notify you of this and provide you a written change order with any additional costs as a result before proceeding.
 
Depending upon the scope of your project, local contractors can work with you in any of these ways, and they’ve found it's best for you to choose T+M for small projects, and the Price Not to Exceed choice for larger projects.

Saturday, March 28, 2015

What’s Behind Estimating Home Renovation Costs?

The price tag of any remodeling work comes with costs add up. If you've ever renovate a room or even a floor or countertop, you know well how the big things like tile, cabinets, windows are just the beginning, and can add a surprising amount to your total bill. There's almost always an affordable way to do something. Sometimes it can mean compromising on the quality of materials, and sometimes it mean doing the work yourself, but most importantly, saving money is all about thinking creatively, planning well and sticking to a budget.

Contractor Local Quotes

How Costs Add Up?

Looking at one small factor of a major project can help in estimating home renovation costs involved for the complete project. Consider the bathroom flooring, for instance. Let's say you bring a tile you love at a good price. That’s great! Now add some caulk, grout, and sealer in order to have the rough cost estimate of your finished flooring. But before you even lay that tile you need to remove the old flooring. That means more labor, plus disposal or recycling costs and possible repairs to the subflooring will also be involved. Then you require a new layer of cement board, along with joint tape, mortar, and fasteners. Sum up those costs and pin it onto the cost of the finished flooring. This is how costs go on adding up.

How to Get Help in Home Improvement Cost Estimation?

It’s easy to make out why most people don't, and shouldn't, go it alone. Hiring a qualified local contractor is good early step if you want help in estimating home improvement costs. These professionals are creative problem solvers who perceive client's vision, preferences and budget and integrate it with the home itself to identify goals and parameters for the project. A contractor can also help you establish the costs involved to offer an insight of what's realistic. A little later in the course, a contractor can help you create detailed project specifications, which you can exercise to acquire accurate bids from contractors.

All in all, with the help of reliable contractor, the project specs can be incorporated into the work contract to eradicate any gray areas concerning the project, materials, techniques and other goods and services you're paying for.

Saturday, March 14, 2015

House Construction Cost Estimates to Remodel a Bathroom

When it comes to estimating the cost of your bathroom remodel, the first thing you’ll realize is that construction cost estimates are nothing but an exact science. There are lots of variables that affect the final cost on any job. Local house remodeling contractors quote for bathroom can be especially ambiguous, because of the wide range in the costs of materials. The difficulty of estimating the labor involved in changes to existing floor plans also contributes to the varying quotes from contractor. As bathroom cost estimate is one of the crucial parts of the planning process, thereby it sets your design goals and creates a realistic budget.

Contractor Local Quotes

1.    Get Ballpark Figures
General bathroom cost estimates can be received from your local builders/remodelers associations. There are many organizations that provide reports and data on average job costs in their service area. Finally, if you have access to software for calculation of construction costs, you can get ballpark figures for renovation jobs of any size and scope that you enter into the calculator.

2.    Make a Basic Plan
Once you have an idea of what other people are spending on bathroom remodels presently, you can focus on what your new bathroom will cost. You’ll need to create a basic plan of everything you would want to renovate and, possibly, every material and fixture you would like to use. A detailed plan will allow you to have a good estimate on total project costs. This is the best tool you can have for attaining precise bas

3.    Talk to Local Professionals
With the help of your preliminary remodel plans and materials preferences, consult with local remodeling contractors to discuss your project and acquire house construction cost estimates for the bathroom job. At this point, you’ll likely be looking for unofficial estimates and not real bids for the project. Remodeling contractors, design companies and bathroom designers can help you with cost estimates, often during a free consultation. Or, if you’re interested in using an independent designer or architect for the project, you might start a paid relationship at this phase to initiate the practice of refining your plans right away.

Monday, February 16, 2015

Free Home Improvement Quotes- Finding Ways to Cut Down Costs

Kitchen and bathroom remodeling are considered to be most important home improvements that enhance the value of a home. But this labor-intensive renovation can get too costly. Even if you don’t do any change in room layouts, the simple job of replacing fixtures and finishes can be more expensive than a new car.

What builders say “pull and replace” renovation can cost from $30,000 to $52,000 for a 10-by-10-foot kitchen, and $14,000 to $22,000 for the average 6-by-7-foot bathroom. When you begin moving electrical wiring, plumbing, and walls, the costs substantially increases.

Budget-minded homeowners are looking for cheaper solutions by improving existing appliances and fixtures, refinishing kitchen cabinets and hiring local pros.  Contractors, in turn, are responding to the current demands for cost-conscious kitchen and bathroom renovation with free home improvement quotes indented to help out homeowners.

Contractor Local Quotes

Finding ways to save money

1. Installation costs more dollars as labor accounts for about 60 to 70 percent of bathroom remodeling costs. To save money, you can install the toilet and do the painting, but take care of faucets. They don’t last very long and you probably don’t want a leaky faucet after two years.

2. Applying large tiles on walls and floors saves money. With large tiles, you have less grout lines and labor costs, and they can even make a room appear larger. You can also save money by not extending the tile to the ceiling around the tub or shower. Instead, you can install glass doors to craft a fresh look and cut costs.

3. If you are good in plumbing, you could renovate bathroom yourself with a new shower head, vanity, sink toilet, and light fixture at a nominal cost. But even a good DIY enthusiast may lack proficiency to update a bathroom in an older home.

4. Kitchen renovation can be less costly when major fixtures are replaced rather than moved to new locations. Replace the countertop, sink, cabinets and flooring, but not the appliances. Even in small kitchens, costs can increase when particular appliances are needed to fit a limited space. If you are finding it difficult to do, a local contractor can also help you. They will not only connect you with construction pros but will also provide you with free kitchen remodeling estimates

Thursday, January 29, 2015

Get Realistic Before Estimating Home Renovation Costs

Being a home owner, you are always tempted to splurge cash on your house and then pretend you are making money on your investment. The best way to do this is to complete a renovation, and then suppose that the value of your home has improved by at least the amount of the renovation.

The reality is that most home renovations or fixes augment some amount to the home value which could be more or less than the value of the renovation itself. But, the problem lies in estimating home renovation costs.

Contractor Local Quotes

Why You Should Be Concerned About This?
You don’t need to worry about the return on investment of every dollar you add in your house.  It is good to modify your house to suit your own needs, even if it doesn’t increase the value.  However, if you are thinking to sell the house anytime in the near future, it always pays off to consider the relative benefits of different renovations you are considering.

How to Estimate the Value of a House Renovation?
Discover the following ideas on what to consider when estimating the value of a house renovation.

1.    Time Of Renovation
If the renovation is brand new, then the buyer should be keen to pay the full amount of the renovation.  For instance, if a new fence cost $3,000, then the value of the house should increase by $3,000.

2.    Usage Is Important
Exterior renovations are a lot more erratic. Decks are an attractive piece and perhaps include a fair bit of value to your home. Things like extra patios/sidewalks etc are very superficial, because some people will love them, some will remove them after buying the house.

3.    Different Folks, Different Strokes
Not everyone is going to value the same things in a house. This is a big one and this is the reason why exterior renovations are likely to have a lower return on investment in contrast to interior renovations. Even if you think there is no loss in value, you’ve lost the expense of the substantial renovation.

Contractor Local Quotes

You can even find numerous local contractors online who supposedly help you in estimating home improvement costs that will add to the value of the house.

Friday, January 23, 2015

My Dream Kitchen

Simple…Casual…Traditional…? Whatever your style is, your kitchen says a lot about you but more importantly, it sets the tone for the whole house. If you are looking to get your dream kitchen in 2015, a first step would be to look at pictures online and get some ideas as to what your dream kitchen would look like. There are hundreds of websites that feature beautiful styles of kitchen designs or you can simply connect with your kitchen remodeling cost estimator to help you design your dream kitchen.

Contractor Local Quotes

What could stop you from getting your dream kitchen?

The cost of material and labor, unreliable contractors or procrastination can put a halt to your zeal of getting that dream kitchen going. What is more, the thought of you feeling like you have to change the whole look of your kitchen can feel so very overwhelming that you do even feel like contacting a local Pro for a free quote on the services. The reality is, you don’t have to change the whole look of your kitchen to get that dream kitchen of yours. So how can you accomplish a better looking kitchen without complicating matters?

Simple changes can get you closer to that dream kitchen of yours!

You don’t have to knock out walls or change the whole floor to say “I’ve remodeled my kitchen”.

Stainless Steel Appliances. Why not start by looking at your current appliances? Are they outdated? Changing your kitchen’s look with stainless steel appliances can certainly give your kitchen an facelift.

The benefits of having stainless steel appliances:
  •     easy to clean and maintain.
  •     long life span.
  •     germ resistant.
Color.Is your kitchen’s color stuck in the 70’s? A trip to your local hardware store or a quick search on the internet can give you an idea of the color you’ll want in your kitchen that appeals to both you and your family. Just painting your kitchen a different color or even painting the colors of your cabinets can be once again a simpler way to update the look of your kitchen.

Counter tops.There are different counter top materials available; from granite counter tops, to laminate, stainless steel and the list goes on. Whatever you end up with, changing the look of your counter tops will give your kitchen that facelift it desperately needs.

The takeaway…! 
Updating your kitchen does not have to be this outrageous expensive project. By simply doing little things here and there you can accomplish a lot by spending very little money on your kitchen remodel project. Partner with a free kitchen remodeling estimates online contractor in your area, get ideas on designs, get free pricing estimates on kitchen materials. In the end, you will be happy knowing that you finally took the steps to get your dream kitchen