3 EASY PIECES OF ADVICE FOR 2021 AND BEYOND
As 2020 thankfully draws to a close, I know many are looking at their homes in a completely different way.
I know that I am.
With shifting restrictions and regulations throughout Boston and Massachusetts, many of us are working from home and have done so for much of this year. What 2021 will hold remains to be seen — I definitely wish it to be bright and full of expansion for all of us.
Many in Boston are examining their homes and speculating on the best way to approach the investment of a remodel so as to maximize the value of their home. This is a question often posed to me by both clients and friends:
How do I remodel my home so as to increase its value?
The purpose of this article is to give you several fundamental key pieces of information and rules of thumb to think with when approaching a home design and remodel so as to increase its asset value.
1. Remodel the key core spaces of your home
Kitchens have changed drastically since many of Boston’s buildings were constructed over the last 200 years.
Meal preparation and cooking today is a family affair, as likely to be done by a husband, partner, or other member of the family. In many Boston homes a kitchen is a gathering place, haven, and safe creative hub for the entire family.
However, many Boston homeowners make do with awkward kitchen layouts designed and built many decades (and sometimes centuries ago) prior to the advent of many of today’s kitchen design amenities.
Today’s modern kitchens have open layouts — with clean, well-designed lines and ample storage. They are practical, aesthetic, and sustainably designed. A sound investment is a clean, aesthetic kitchen design that’s sustainable, practical, and innovative.
Kitchen remodels are an excellent fit for our delivery method. Because there are a high number of design elements used in creating the best possible space for your family, our thorough design approach allows us to fully plan your project and provide itemized and transparent budgets and construction schedules prior to lifting a finger in the actual construction. This has the capability to reduce headaches due to unforeseen circumstances down the road. The industry standard rate for change orders is around 15%, yet NEDC has historically been below 3%.
As far as cost, a small kitchen remodel with our company is in the $125,000 range, while a larger kitchen full-gut remodel could cost $150,000 – $250,000+ contingent on size and design.
Here is an example of a kitchen design and remodel done for a client in Cambridge — notice the beautiful use of reclaimed wood as a sustainable design element.
The Master Suite
There’s nothing quite like enjoying the calm aesthetic of a 5-star hotel or spa while in the comfort of your own home. With a proper design, this feeling of elegance and well-being can be achieved. A well-designed master suite affords the home an inner keep where much needed comfort, rest, and escape from the grind of life can be achieved. Taking the design route of a modern, sustainable aesthetic with quality fixtures will garner lasting value
Here is an example of a master suite we did for a client in Winchester:
As far as cost investment goes, a Master Suite design and remodel with NEDC would range between $75,000 and $150,000+.
A modern, elegant bathroom design with quality components and fixtures lends value and comfort to a home. Often, space for an additional bathroom can be found in unutilized closets or aesthetically carved out of basement or hallway space, raising home value as a result.
Reclaimed and sustainably harvested wood designs lend beauty to a bathroom, are eco-friendly, and can be used for flooring, furniture, and wall elements. Flooring can also be treated with concrete, recycled glass, or a natural stone to add a long-lasting aesthetic.
The investment for a full bathroom gut remodel will run in the range of $50,000 – $75,000+. Here is an example of a small, but quite beautiful guest bathroom ($60,000 investment) we did in Brookline as part of a larger project.
Basement or Attic Conversion
Taking an unfinished utility space and converting it into an insulated, air-conditioned, and furnished space can prove a valuable investment — this could be a home office, exercise space, or multi-use room.
We have found this investment to run $200-300 per square foot for a remodel. These basement and attic conversions have become increasingly popular this year as the need and desire for dedicated work, recreation, and exercise space has massively increased.
Here is an example of an unfinished basement of 875 feet in Milton, which we redesigned and converted into a fully furnished child play space/media room with an attached exercise space. (The investment for this aspect of the home was $175,000).
Intelligently planned home additions can add valuable space and increase property value. Here is an example of a whole home remodel and addition we did for a client in Brighton, Mass.
The investment for this project broke down as follows:
- • Kitchen Remodel: $165,000
- • Master Bath Remodel: $83,000
- • 350 SF Addition at $350 per square foot: $122,500
- • Interior Remodeling: $144,500
- • Deck addition: $35,000
2. Refrain from over specializing
Although decidedly amazing, not everyone desires that custom-shaped swimming pool with its retracting surface protection and matching gazebo that reduces your yard space by half. This could be a potentially bad investment when you will be having your home appraised in the future.
3. Emphasize sustainability
Increasing attention is being placed culturally on the inherent value of sustainable design in home building. As our Earth must be taken care of, we seek a responsible approach when designing and building homes. A well-designed eco home or passive house can greatly assist in this issue and the health of our earth. Homes that are well-designed and crafted along these lines are in demand and have an increased value over those that are not.
Along these lines, here is an example of a custom Passive house design and refit we are currently completing in Somerville, Mass.
An intelligently designed and executed home remodel can afford you your dream home, markedly increase quality of life for you and your loved ones, and significantly raise the value of your property. We’ve designed and remodeled many beautiful client homes in Boston with a resultant rise in property value and client spirits.
If you have any questions or would like to simply discuss your ideas, don’t hesitate to reach out.
Here’s to a productive, happy, and safe 2021!