Costs and Returns on High-End Renovations in Knoxville, Tennessee
Tuesday, September 17th, 2013
Your primary goal in planning a high-end renovation is to increase livability for you and your family and up the wow factor of your home. However, you also want to keep in mind your costs as well as return-on-investment when you sell.
Remodeling Magazine describes some of your options in its “2013 Cost and Value Report.” Keep in mind that these are only averages for top-of-the-line remodels. Your actual prices will vary.
- The greatest return on investment belongs to the 72% granted by remodeling your bathroom. The initial $14,519 cost covers upgrading a 35-square-foot bathroom to 100 square feet within the existing house footprint. Return on resale averages $10,453.
- A room remodeled as an office could be the change that you need to become more productive. Average renovation costs $25,441 with a return on investment at 52% or $13,224. This includes converting an existing 12-by-12-foot room to a home office. Installing custom cabinets to include 20 linear feet of laminate desktop, computer workstation, and wall cabinet storage.
- A major kitchen redo returns 70.9% percent of its initial $50,757 which equals $35,990. This updates a 200-square-foot space with custom cherry cabinets, stone counter tops, backsplash or ceramic or glass tile, built-in refrigerator, cooktop, 36-inch commercial-grade range and vent hood, built-in microwave, designer faucets, and built-in water filtration.
If any of these values convinces you to undertake your own renovations, please contact us right away so we can help you.
