How Much Does a Remodel Cost, and How Long Does It Take?
I found this article on Houzz.com (where I have a presence as a Kitchen and Bath Remodeler and General Contractor) to be quite interesting and informative. Here’s a bit of it, you can click on the link to go to Houzz.com to read the entire article.
High renovation costs can be surprising for first-timers. After all, it’s easy to fall in love with photos of a high-end kitchen or Sub-Zero appliances when you don’t have to pay for them. “A lot of times people have grandiose ideas or pictures of things that they’ve seen — it looks great but doesn’t fit their budget,” says Brandon Quinton of Cameo Homes in Salt Lake City. “Everyone is drawn to the most expensive stuff. Everyone has got expensive taste; they just don’t know.”
Did they pay dearly for that? Surprisingly, no. Owners who started with no initial budget actually spent less, by about $8,000, than those who had a budget and stuck with it. It could be that the budget-avoiders were doing DIY projects, renovating over time or taking on lower-cost projects overall.
As for those homeowners who exceeded their budget, well, they spent twice as much as those who had no budget at all. And they probably had some gorgeous results for their big spend. Notably, only a tiny fraction of renovators came in under budget.