Maine Coast Home Design

Renovating an existing home can be a significant undertaking. There are budget issues to resolve, permits to obtain, contractors to interview, and legal factors to consider. This article provides an overview of issues you may want to consider when updating the look or structure of your home.

Budgeting Basics

Establishing a budget is an important first step for many homeowners. Costs vary widely, depending on whether you pursue a standard renovation project with materials purchased from a national chain store vs. a high-end remodel with elements designed to your specifications. For example, REMODELING Online has estimated that the cost of a kitchen renovation can range from ,928 to more than ,241, depending on the scope of the work done. An upscale makeover with elements custom-designed for a homeowner may cost significantly more.

REMODELING Online’s 2006 Cost vs. Value Report presented the following national averages for mid-range renovations frequently undertaken by homeowners:

Vinyl siding replacement: ,134 Vinyl window replacement: ,160 Bathroom remodel: ,918 Roof replacement: ,276 Deck addition: ,728 Bathroom addition: ,918 Basement remodel: ,724Keep in mind these numbers are averages, which means you may be able to spend less. If you are just beginning to think about a renovation project, visit several home improvement stores to get prices for the types of materials that appeal to you. Ask representatives to help you develop a list of items you are likely to need for a given project. Larger stores may employ personnel who can develop rough drawings of kitchens or other rooms to help you determine your options for placement of appliances, lighting and other issues.

Bang for Your Buck

Many homeowners want to select renovation projects that are likely to yield the highest return on their investment when they ultimately sell their home. The following renovations are those most likely to result in a payback for homeowners:

Average Cost Return on Investment Vinyl Siding Replacement ,134 87.2% Minor Kitchen Remodel ,928 85.2% Window Replacement (Wood / Vinyl) ,040 / ,160 85.3% / 83.7% Bathroom Remodel ,918 84.9% Two-Story Addition 5,297 83.2% Attic Bedroom Remodel ,073 79.9%

Although return on investment is important, also consider your lifestyle. If your family is growing, an extra bathroom or bedroom may be your most immediate need, even if a kitchen remodel would result in a higher return on investment. In contrast, empty nesters may be more inclined to take on renovations that reduce ongoing maintenance, such as vinyl siding, instead of adding space to their home.

Planning for Permits

In most instances, a building permit is required when the living area of a home is changed or when structural work is undertaken. For instance, transforming an unfinished attic into a master bedroom suite typically requires a permit. The types of permits mandated by different jurisdictions vary considerably. If you are undertaking a project that encompasses structural, plumbing and electrical work — such as a new bathroom or kitchen — you may need separate building, plumbing and electrical permits.

The National Association of the Remodeling Industry (NARI) recommends that homeowners not take out their own permits but instead leave this task to their contractor, who typically is familiar with the permitting process in a given locale. Typically, the individual who obtains a permit is considered to be the contractor and is legally responsible if work does not adhere to local building codes. Requiring your contractor to obtain permits protects you legally and is part of the job you are paying a contractor to do. Because it can take weeks or months to obtain permits, be sure to leave time in your schedule for the permitting process.