Newsletter
Newsletter
Renovation Budgets
Most of the time the hardest thing to grapple with in home remodeling is the costs. Right!
Unfortunately misguided expectations can set us up for future disappointments and a lot of stress.
According to a 2018 Houzz and Home survey, 80% of homeownes have a budget in mind, but nearly 50% of them go over that budget, or have a budget insufficient to meet project expectations.
Through my carrer Ive developed and used a percentage based formula for specific home projects, to help me properly frame homeowners budget expectations for a project during initial discussions. To help them not only prepare for any potential sticker shock, but to act as a guide, a map so to speak, for what is appropriate for the project and their home. Of course you can always chose to go above or below these guidelines, but it properly sets parameters for budget expectations for the project you are considering. I am pleased to see now, that leaders in the industries standards, adopting and utilizing this very method, and feel this is a big help for everyone involved in the home remodeling process.
The Appraisal Institute and the Houzz organization have put out a % based budget guideline for home improvements, based on the overall value of the home and the project being considered. This is a great guide for setting expectations for budget amounts accurately and realistically. Below are the guidelines listed along with a floorplan graphic. Of course this is just a guide, and costs for a job can be adjusted and determined by a host of factors.
I believe that by removing the obstacle of uncertainty and vagueness around and about price, when considering to do a project, will be a benefit and a valuable education for perspective remodeling customers. Allowing them to realistcally prepare, anticipate and decide, to undertake a home improvement project.
Kitchen Remodel = 10-15% of home value
Master Bath Remodel = 10% of home value
Guest Bath Remodel = 5% of home value
Finished Basement = 10-15% of home value
Decks & Patios = 2-5% of home value
Finished Attic = 10-15% of home value
Other Rooms = 1-3% of home value
Plans for Solebury Square take a step forward
Township Plans for the future of the Route 202 corridor in Solebury Township took a significant step forward Tuesday as the Bosrd of Supervisors offered a first look at the proposed Solebury Square comercial and residential mixed use complex at their monthly board meeting.
The project in its current version would almost double the commercial space in the immediate area- from New Hope Lodge on Route 179 to Hermitage Drive on Route 202- and add hundreds of apartments.
Township officials say they are trying to be proactive in the inevitable future development of Route 202, while preserving the townships heritage and environment. With a good plan in place, new projects will fit in with the look and feel of Solebury, Supervisors say.
Township consultants developed the conceptual draft based on feedback from residents and businesses who responded to the boards request for input on the future of the 202 corridor. Supervisors see Solebury Square as a walkable village of civic spaces and green landscapes, consistent with the architecture and landscaping of the areas historic places. They emphasized that the presentation is not a formal plan, but rather a vision for intergrating land use and improving local transportation that would include commercial developments, apartments, senior living spaces, and townhomes, along with expanded pedestrian and biking trails.
The hope is that by providing a plan and visual images, the township is in a proactive position in any discusions with private developers. And that residents will be better abe to see the plans and tell us what they do and dont want to see in the 202 corridors future development .
Sourced | New Hope Free Press / article by Charlie Sahner / newhopefreepress.com
Design Priority
Improvement to the homes design and functionality continues to lead the way for homeowners priority of importance and preference in home remodeling by an overwhelming percentage. Rounding out the top concerns are increasing the value of the home, minimizing costs of project, and improved energy efficiency. Surprisingly, priorities in health, green materials and tech incorporation are not rating that well and are split, with about one third of homeowners ranking them a high priority and one third ranking them a low priority.
Countertops Win!!
The RICKI Organazation has released their results from a research survey on what items clients are most willing to splurge on. From a list of 14 items, the top spot goest to Countertops, followed by Kitchen Cabinetry. Rounding out the top 7 items are Refrigerator, Oven, Flooring, Faucets, and Lighting.
