The 2018 Cost Vs. Value Report: What This Means For Your Tallahassee Remodel

2018 cost value report tallahassee fl remodel

The cost vs value report created every year by Remodeling Magazine always creates a stir in the remodeling world. Lots of companies share and re-tweet it as a way of demonstrating to homeowners how much things should cost and (hopefully) prove to them that the expense will add value to their home.

The infographic above is an interpretation of the report by the blog fixr.com.

Our initial takeaways from the report:

General Thoughts

ROI is not a good reason to remodel your personal home. You should remodel to personalize your home and so that you can enjoy it more. There is even an argument that a lot of people are remodeling unnecessarily.

Consider:

  • No project has a 100 percent ROI (though a garage door replacement comes real close)
  • Small projects have a better ROI than big ones
  • ROI for Kitchen and Bath Remodels avg about  60 to 70%
  • The report assumes you are remodeling a home that is in good condition, just outdated.
  • These costs assume the layout of the space is not changing

Report Pros

  • A  lot of work is put into this report and it provides a great way to spot trends over several years.
  • It highlights your potential ROI (or lack thereof) for many different remodeling projects
  • It can be used a starting point to create a budget for your project.
  • It gives kitchen and bath remodeling companies something to talk about every year

Report Cons

  • If you read the scope of work carefully for the mid-range kitchen remodel you’ll notice it includes things like laminate countertops and sheet vinyl floors. In our experience, people would consider that low end, not mid-range.
  • The cost vs value report focuses only on short-term rewards i.e. what happens when you sell your home right after a remodel.
  • These costs don’t line up with our experience. In general, we find these costs to be higher than normal.

What the Report Says About Kitchen and Bathroom Remodels

The report breaks kitchen and bathrooms down into a couple of categories:

  • Midrange Remodel
    • Midrange Minor Kitchen Remodel
    • Midrange Major Kitchen Remodel
    • Midrange Bath Remodel
  • Upscale Remodels
    • Upscale Major Kitchen Remodel
    • Upscale Bath Remodel

As we said above, the scope of work for these categories might not be what you would assume they are. We break it all down for below.

2018 cost value report tallahassee fl remodel

Midrange Minor Kitchen Remodel:

Avg Cost: $21,000.00

ROI:  81%

Current Condition of Kitchen:

Functional but dated 200-square-foot kitchen with 30 linear feet of cabinets and countertops

Scope of Work:

  • Reface Kitchen Cabinets and install new hinges and pulls
  • Replace range and fridge
  • New Laminate Countertops
  • New Sink and Faucet
  • Remove and replace sheet vinyl flooring
  • Paint walls and trim

Our Thoughts

I would consider this a budget kitchen remodel. Refacing is a fantastic way to update your kitchen but we rarely find homeowners who want laminate tops or sheet vinyl flooring. Cost seems about right, maybe a little on the low side.


2018 cost value report tallahassee fl remodel

Midrange Major Kitchen Remodel

Avg Cost:  $64,000

ROI: 59%

Current Condition of Kitchen:

Outdated 200 sq ft kitchen with a functional layout, 30 linear feet of cabinets and counters

Scope of Work:

  • New Semi-Custom Cabinets
  • Install a 3×5 foot island
  • New Laminate Countertops and drop in Stainless Steel sink and new facuet
  • New Range, range hood, microwave, disposal, fridge and dishwasher
  • New lighting
  • New sheet vinyl flooring
  • Paint walls ceiling and trim

Our Thoughts

Cost seems high for the specified materials and scope of work. Laminate counters and sheet vinyl floors are more of a budget option than a mid-range option.


2018 cost value report tallahassee fl remodel

Upscale Major Kitchen Remodel

Avg Cost: $125,000

ROI: 53%

Current Condition of Kitchen:

Outdated 200 sq ft kitchen with a functional layout, 30 linear feet of cabinets and counters

Scope of Work:

  • New Top Line Custom Cabinets with built in organizers
  • Stone Countertop, undermount sink, designer faucet and water filtration
  • Built in Fridge, commercial range and hood, wall oven and built in microwave
  • New lighting, including undercabinet lights
  • Tile Floor

Our Thoughts

Cost seems excessive for the size of the kitchen.


2018 cost value report tallahassee fl remodel

Midrange Bathroom Remodel

Avg Cost: $19,000

ROI: 70%

Condition of Current Bath:

Outdated but in good condition, Small 5’ x 7’  Bath with a 60” Tub/Shower combo. Dated but in good condition.

Scope of Work:

  • New Porcelain on Steel tub
  • New 4×4 tiles on walls and floors
  • New small vanity with solid surface countertop (not stone or quartz)
  • New plumbing fixtures, same location
  • Recessed medicine cabinet and vanity light

Our Thoughts

Cost is a bit high for the materials specified. This would be a typical hall bath, a little on the small side.


2018 cost value report tallahassee fl remodel

Upscale Bathroom Remodel

Avg Cost: $61,000

ROI: 56%

Current Condition of Bathroom:

Good condition but outdated. Too small (35 sq ft), needs to be expanded to 100 sq ft

Scope of work:

  • Expand size of bathroom while keeping inside the current footprint of the house
  • Large ceramic tile on floor
  • Underfloor heating
  • 42×42 inch shower with glass enclosure and multiple shower heads
  • Two sink vanity with stone top and two recessed medicine cabinets
  • Freestanding tub
  • New lighting
  • Heated towel bars

Our Thoughts

Cost seems a little on the high side. This is a common remodel we do except the underfloor heating and heated towel bars are not typical in Florida.