There is a saying often coined on home remodeling tv shows like HGTV’s Fixer Upper– “buy the cheapest house in the best neighborhood.” The reasoning for this is simple and proven time and time again. The cheapest house in a desirable neighborhood has the largest opportunity for growth or “expansion potential”. Simply put, the remodeling investment made in homes that fall into this category tend to see the greatest ROI and resell faster when the time comes!
Maximizing Your Home’s ROI
Even if you are not on the hunt for a fixer-upper, spending the right amount on a remodel can be the difference between a highly sought-after home when on the market, and a home that is overpriced for the neighborhood. You tend to see the best return on a medium remodel project that will in turn appeal to the widest range of potential buyers in the future. You might have heard hard and fast numbers like $10,000 remodel for a bathroom and $25,000 for the kitchen. However, these numbers are meaningless if the value of the home is not taken into consideration. To account for this, the best method is to consider your remodeling budget as a percentage of the cost of your home overall.
As an example, let’s imagine you are considering your kitchen. Should you remove the countertops, cabinets, and floors and completely remodel? Is anything salvageable? What should you spend? One website uses the following as a detailed example.
“Let’s say you bought the house for $1,000,000. It has three bedrooms, two bathrooms, 1,800 square feet of living space, and a 5,000 square foot lot. A property’s value is made up of land value and building value. In your case, the split is 50/50. If you include the kitchen, living room, and laundry room, the house has a total of eight rooms. The value of each room is therefore around $62,500 ($500,000 building value divided by 8 rooms). You can consider $62,500 as the max you would ever spend doing anything to a room.” (Financial Samurai)
While this is useful information, not all rooms are equally worthy of the investment. Generally, the kitchen is the first place people look to remodel, and this is because there are costly appliances, plumbing, and materials used within this space. Further, many home buyers regard a remodeled kitchen as the #1 must-have when on the market for a home. The master and guest bathroom in addition to the master bedroom are other rooms that rank highly on the list of home buyers when deciding which house they will purchase.
It is also worth mentioning that the kitchen and bathrooms do generally cost the most to remodel and other rooms like family rooms and bedrooms can appeal widely to buyers simply with a fresh coat of paint, updated flooring, and light fixtures! Be sure to consider, as mentioned, the percentages involved in your remodel to ensure your remodeling projects best align with the value of your home.
How Rossi Construction Can Help
We have years of experience in construction, from crafting blueprints, sourcing quality materials to helping establish budgets to maximize the resell value of your home. Reach out to us today to learn more about what we can do for you and your home!
If you are looking to remodel your home in Tampa Bay or St. Petersburg, finding a reliable and experienced contractor can be the difference between peace of mind and sleepless nights. Our team at Rossi Construction have put together a list of the top things to consider and look for when hiring a contractor.
Have a Solid Vision for Your Space
Spend time researching trends and timeless touches you would like to incorporate into the remodel. Explore what kinds of looks and architectural elements you might be interested in adding as well. By have a solid grasp on what you are looking for in your remodel, you can then compare the work of the contractors you will meet with later.
Compare Rates as Well as Quality
A general number is to compare at least three local contractors before deciding on one to renovate your home. Your goal with this tip is to determine how they stack up against one another. This will give you a clearer idea of the costs and budget required, as well as the caliber of work each contractor can produce. As an example, one contractor might bid a low rate that might equate to low quality work, while a higher bid usually suggests top notch quality. Use this information and your research to determine where you fall on the spectrum, and what will meet your project’s needs as well as your standards.
Do Your Research to Determine if the Contractor is a Good Fit
While contractors of all specializations use the title of contractor, there are subcategories within the industry. Some are considered specialists and some generalists. So, seek to ensure their experience and abilities align with what your goals are for your renovation. The top things to look for when reading reviews and looking over their business website are: Do you see a similarity in their past projects and what you are looking for in yours? Do they exhibit quality workmanship and use quality materials? Do their reviews reflect consistent high levels of client satisfaction?
Be Sure to Read the Fine Print
From establishing a start and completion date, detailing information about building fees and required permits, an explanation for what services are covered (demolition, labor, equipment, etc.) and the consequences of a default by their business – the fine print holds the details. Noting the fine print is especially important for the terms of default as it can include things such as the unexpected departure of a subcontractor or an array of other unforeseen challenges. Be sure you are clearly excluded from liability in these instances and look for contractors who have their terms laid out in a fair and easy to understand manner.
How We Can Help
Rossi Construction has proudly served Florida’s Tampa Bay area for almost two decades. We have helped homeowners create or re-invent their space into one they are proud to come home to. Feel free to reach out and request a consultation to discuss the topics mentioned above! If you are interested in more home remodeling inspiration, head over to our gallery to check out some of our recent work. We look forward to speaking with you and seeing how we can make your home remodeling dream a reality.
It’s no secret that your kitchen is a fantastic choice when deciding where to upgrade your home. From a mini-make over to a full-scale revamp, not only does a kitchen remodel improve you and your families lives, but your resale value will dramatically increase. But where to start when planning and designing your kitchen renovation? We are here to help. Since 2000, we at Rossi construction have been helping folks throughout the Tampa Bay area create the kitchen of their dreams – and we have learned a few things along the way. Here are the top 5 things to consider before taking on the exciting endeavor of renovating your kitchen.
What is Your Budget?
A common first consideration when taking on a large home improvement project. It is easy to start out with good intentions, but there are commonly overlooked considerations that come into play drafting your expense list. The first step to ensuring you stay within your budget begins with planning your renovation. The surest way to spend more than is necessary is to make changes after construction and remodeling gets underway. This in one reason why is it considered best practice to consult with and professional, because we can ensure all aspects of the remodel are detailed and priced out beforehand.
Secondly, another common expense is unforeseen structural or electrical damage that requires upgrades to complete the renovation. Our team of professionals can help you budget for the unexpected and help with a pre-renovation inspection to determine the likelihood of these sorts of challenges.
Finally, consider the overall value of your home. A kitchen remodel is considered the best investment when it comes to reselling your home. A recent study found that an average $15,000 renovation saw a return value of roughly 93%. Further, a kitchen generally accounts for 10-15% of a home’s value. With this information in mind, you should seek to prioritize what changes will have the largest impact on the space and maintain or even increase the value of your home.
Establish Your Splurge-Worthy Investments
Have you been eyeing that side-by-side refrigerator? Or envision marble countertops in your upgraded kitchen? Start researching the big-ticket expenses for your remodel and look into customer reviews. This will help you get a feel for not only the quality of top items on your list, but the price. Pricing out appliances is another area where having an experienced professional on hand can be helpful. From evaluating energy costs to planning out how the space will look cohesively, we can help keep with in your budget while still building out the kitchen to your specifications.
Do You Know Who You Are Hiring?
As mentioned, your contractor will play a huge role in ensuring you stay with in your budget and that your kitchen vision is realized. For this reason, is it essential that you are hiring someone who clearly understands your hopes for your remodel. From ensuring your contractor is insured to establishing a realistic and feasible budget and creating a workable timeline the right contractor can make all the difference. Finally, check out their previous work. What better way to determine if a contractor is a good fit than letting their work speak for itself? From residential, to commercial, we at Rossi construction have designed, managed and built out kitchen renovations in the Tampa Bay area of all kinds.
Let’s Get Your Kitchen Renovation Plans Underway
To learn more about how we can help you begin your kitchen or home remodel, feel free to contact us for more information about our services. If you are searching for some renovation inspiration, have a look at few of our previous projects. We look forward to working with you and turning your kitchen into one you’ll never want to leave!
Remodeling kitchens and bathrooms remain two of the most cost effective ways to increase the value of the house and get a significant boost out of your own enjoyment of your home. Kitchens and baths showcase homes, giving it the “wow” factor when it comes time to sell your house. Read on to learn more about kitchen remodeling and how to execute it correctly.
There is no way around the expense:
A well-done kitchen remodeling project will not be accomplished inexpensively. The national average expense for a minor kitchen remodeling project is roughly $19,000, while a major remodel will come in at close to $55,000. No matter choose a major remodel or minor modifications, you will want to get your priorities in order and only bend where it feels appropriate.
Know what your budget can handle:
To save on expenses, do not try to make any structural changes. This will include adding additional square footage or turning a family room into part of the kitchen. If it is at all possible, you should also try to keep appliances and doors where they started. Keeping the sink where it was originally located will help you avoid additional expenses associated with moving plumbing.
Most of us dream of going all out with concrete or granite countertops. If you want to keep costs down, laminate or concrete are good options that can give you a look with that “wow” factor. Laminates are refined and imitate granite and stone without the same hefty price tag. It can also resist staining, scratching and chipping.
Cabinets make up at least one-third of the average total kitchen remodeling budget. Installing cabinets means you will often need new flooring too. One way to cut cabinet costs is to with standard cabinets, in preset sizes, colors and materials. If the concept of all standard cabinets bothers you, a combination of standard and custom cabinets may work best for you. A third option involves replacing just the cabinet doors and drawer fronts and replacing the existing veneer on the box structure.
If you enjoy spending time in your kitchen with your family, you will want to call Rossi Construction, Inc. at 813.436.0177 to schedule a free consultation to discuss kitchen remodeling.
For a Tampa, FL homeowner who is tired of traditional kitchen countertop options like marble and granite, we suggest taking a look at premium onyx as a unique countertop material choice. This natural countertop choice is formed when stalagmites and stalactites drip in caves and form the strikingly dramatic stone. It should be noted that onyx also stands out because it happens to be translucent, which offers you a unique opportunity to install a backlit feature when completing your kitchen remodeling project. This stone option is available in veined pastel patterns.
If you want your kitchen to stand apart from the crowd, there is no denying the beauty of onyx!
Whether you are thinking of sprucing up your home for personal enhancement or selling your home, these two rooms are especially important to the value of your home.
As a result, these upgrades can come with a hefty price tag and a whole lot of myths.
Myth #1: Remodeling is easy. Sorry but that isn’t always true. Renovation jobs can be very easy or tough depending on the home’s layout, age, and any preexisting issues. So, go it your kitchen and bath project with an open mind.
Myth #2: The Lowest Bid Is the Best Value. That is not necessarily true either. The lower bid could end up being costly in the end if they are major mistakes to be repaired. Sometimes the higher bid could be the better value.
Myth 3: My renovation needs to be overdone to get a higher offer from a buyer or a higher price value from an appraiser. Some renovations can be done that add value to your home with having to be expensive.
Myth 4: I can do most of the renovation myself. Sure, it’s possible, but it can be much easier, cost effective, and well-done if you use a contractor.
Before you tackle a kitchen or bath reno, consider these tips before you commit.
Do Some Research
You may not be interested in the opinions of your neighbors, but their style and the style of your community can have a place in your home renovating projects. For example, if homes in your neighborhood include granite countertops and hardwood floors in the kitchen, it is likely that buyers will be interested in seeing those features in your home if you decide to sell. Also, staple and traditional kitchens and bathrooms can add value to your home because they never lose appeal.
Everything In Moderation
It can be tempting to make expensive upgrades to your kitchen and bathroom to give your home its personal touches. A bathroom renovation can be a week long project that focuses on added new paint to cabinets and upgrading hardware, or it can turn into a multi-month project that includes a backsplash, new flooring, new cabinets, and an oven range that would rival any 4-star restaurant.
No matter your renovation needs, the idea is to get the most for your buck, and that may mean making small adjustments that matter.
Finding A Professional
The craftsmanship of the home is equally as important. You should avoid skimping on quality professionals for costly upgrades. When the craftsmanship is down right, these renovations will be well worth the money and can decrease headaches during the entire process.
In Tampa kitchen remodeling, granite countertops continue to be king. If the speckled stone leaves you feeling cold, stop worrying. There are warmer alternatives. Here are some of our favorites!
Marble is gorgeous and less expensive than granite, but the maintenance can be difficult for a Tampa family with young children.
Butcher block is less expensive than granite or marble, and it offers warmth if you opt to install neutral white cabinets. The downside is that butcher block can stain, and you will want to protect it from pots that have just left the stove. Regular scheduled oiling will help maintain the appearance and longevity of the countertops.
If you opt for engineered stone countertops in planning your Tampa kitchen update, you will find it is made of small bits of quartz that is mixed with a binding agent and then molded. The resulting material has the appearance and durability of stone. If the look of marble is appealing but the maintenance is a deterrent, engineered stone can be a solid choice for you. Engineered stone is also a good choice for a homeowner who prefers a minimalist look, because there are option free of the veining that is found in marble.
Homeowners in Tampa often find that stainless steel is highly durable, and it has a unique industrial feel.
A concrete kitchen countertop has an interesting, raw elegance that you will not find with some of the other options on the market. Concrete provides you with the feel and movement you expect to find in natural stone, but it still maintains the edge found in stainless steel.
How do you feel about these alternatives for your kitchen remodeling project? Do you still feel granite is the only option?
Are you thinking about putting your home on the market soon? Before you do, you may want to consider making a few key renovations to your home—when done correctly, these renovations can increase the value of your home, which translates to more money in your pocket! Focus your time and money on these specific renovations that have been shown to effectively increase your home’s resell value. Continue reading “Renovations that Will Increase Your Homes Resell Value in Tampa”
If you enjoy spending as much of your time outdoors as you can in nice weather, you will want to consider adding to your outdoor living space. You can even design it in such a way that it is easy and convenient to cook outdoors. The price can be an inhibiting factor when considering the addition of kitchen on the patio. However, there are a number of options to save on the cost of an outdoor kitchen while improving the value of your home for a future sale.
What is the price of a basic outdoor kitchen?
It is possible to create a simple outdoor kitchen on a budget. The primary item will be a grill and you can find a model that does double duty. Besides grilling, they can come with additional burners a drawer for warming to allow you to create a complete meal. You can even add a mini refrigerator to keep foods cold and convenient. Depending on how many features you want and the preferred finish, you can keep pricing between $2,000 and $10,000 on a basic kitchen.
How much will a luxury kitchen cost?
A luxury outdoor kitchen will cost quite a bit more. It can include a:
- Separate stove.
- Preparation area.
- Wine cooler.
High-end outdoor kitchens will also use nicer materials for the countertop and stone flooring. For this type of kitchen, you can expect to spend between $50,000 and $100,000.
Does an outdoor kitchen add value to your home?
An outdoor kitchen can add value to your home and make it more attractive to potential buyers. The total value added will depend on where you are located and which features you decided needed to be included. An area with warm weather early in the spring and late into the fall will increase the value more than if you live in an area with prolonged winters. If the resale value is a concern, you may want to talk with a real estate expert before building your new outdoor kitchen.
If you enjoy spending time outdoors with your family, you will want to call Rossi Construction, Inc. at 813.436.0177 to schedule a free consultation to discuss outdoor kitchens.