Cincinnati Remodeling Costs
Cincinnati Remodeling Costs
The local Cincinnati real estate market continues to gain ground and some home owners are deciding to invest in remodeling instead of moving.
First question to ask yourself before jumping into remodeling is -why? One type is home owners looking to add space upgrade for their own enjoyment. Another type of remodeling is aimed solely at adding value for resale.
Both types require planning and a firm grasp on expenses. In my experience remodeling for resale value only is far riskier especially if you plan on selling sooner rather than later. The reason is that costs are usually higher than return on your investment.
Professional “Do-it-your-selfers” have an edge because they can keep the labor costs down. Notice I said “professional” because if you do shoddy work -the cost of fixing it later is high. Be sensible are you are adding an ultra gourmet kitchen to a home in greater Cincinnati, Wyoming, Mason or Liberty Township and your current property is already more updated (read….you’ve already sunk a lot of money into remodeling and upgrades) the chance or recovering your investment in the short term is very questionable…..and in today’s real estate market, in spite of what you see on television, that even modest remodeling jobs may not recover the total investment.
Pillar-to-Post Inspection publishes a great handout which provides estimate costs on s variety of construction/remodeling jobs. Another great source is the 2016 report from Remodeling which provides an estimated dollar return for remodeling projects in our area.
The site also offers a lot of links to vendor and estimates for certain types of work-like painting. As you can see recovering the total investment is not likely and I can tell you from personal experience the estimated prices for the job (ie: new front door, upgrading bathrooms) is usually lower than the actual costs.
The old saying remains true today …”If your only looking for the best investment to sell then simple things like fresh paint and new carpet give your property a “newer look” and can have a huge impact on buyer perception when they view the property.” So why waste your money on projects that only the current owner really likes?
