In a market where vacant land prices are still relatively high, construction loans are hard to come by and new house start-ups are far and few between, the next, best thing is The Remodel. In particular, the renovation/remodel of kitchens and baths. No matter what type of principal you are; home owner, condo owner, president of a condo/hotel association, an owner occupant or investor of any of these, the kitchen and bath remodel may be just what you need.
2. To reinvigorate; refresh; revive
Remodel: 1. To model again
2. To reconstruct, make over
For the home owner or condo owner on a budget or a potential seller of these units, you can do a small kitchen and bath renovation with a few key changes that can make a big difference.
For The Bathroom:
1. Change the plumbing fixtures bath; sinks, faucets, toilets, shower fixtures, toilet accessories like towel bars and toilet paper holders, medicine cabinet(s) and the mirror(s).
2. Resurface or repaint cabinetry
3. Change cabinetry hardware to something more up to date.
4. Paint bath walls with a new, fresh, neutral color
5. Change light fixtures and update cover plates for switches and outlets
6. Add crown molding or baseboard for a finished look
7. Change shower curtain or shower door to something new, fresh and clean
For The Kitchen:
1. Change plumbing fixtures, possibly replace the sink.
2. Resurface or repaint cabinetry and add new hardware and hinges if necessary
3. Add new appliances; preferably Energy Star and stainless steel
4. Paint kitchen walls with a new, fresh, neutral color. Kitchens can also tolerate an accent wall if you want to add creativity and personality.
5. Add a fan and/or more lighting if needed
A Major kitchen and bath remodel would be the same as above except you’d want to add in NEW cabinetry, NEW countertops, and NEW flooring which bumps up the cost quite a bit. But, I have to say, hands down, totally worth it!! Just depends on your budget and what your overall goal is. Living in a newly remodeled space is so much fun. Selling a unit that is newly remodeled is almost mandatory in this market.
A minor kitchen and bath renovation will run approx. $5000-$15,000+/-
A major kitchen and bath remodel will run approx. $30,000-$50,000+/-