This is a question we get all the time. As a design firm that works with contractors for renovation projects, there are many factors that need to be considered which helps us advise our clients and manage their expectations. Side note: we NEVER give them an exact price for a renovation. It would be disrespectful to quote someone else’s work (the Contractor) and other unpredictable variables associated with construction. In other words, we offer a guideline based on the following criteria:
When a client approaches us about renovating their home, the first question we ask is “how long do you plan on living there?” Typically, most people underestimate the cost of a renovation. Are they willing to invest in a home that they only plan on staying in for under ten years? Maybe we do more of a refresh than a total gut. Next, we take a look at the location. What price range are the homes selling for in their neighborhood? We don’t want to over-renovate so our client won’t get their investment back when they sell. For example, a $15k Wolf Range typically isn’t seen in a $500K house in the Dallas Metroplex. Now, that’s not saying it isn’t done. If a client wants to stay in that home forever and doesn’t care about ROI, and they’ve always wanted a Wolf range, we have that conversation. Basically, you want to choose materials that reflect the pricepoint of the home, as a rule.
Just like the appliances in a kitchen renovation, the materials selected can really make or break a budget. Cabinetry, for example. Rift Cut White Oak has a much higher pricepoint per sheet than regular White Oak. Rift cut gives those beautiful simplistic lines in the finish, as pictured. Paint grade is a much less expensive option than stain grade wood for cabinets. We help our clients figure out what materials are important. A painted piece of cabinetry can be elevated by the door type (inset or overlay) and the jewelry.. aka the hardware. Tile is another material that can greatly change a budget. We take in consideration where to put that higher end accent in a home mixed with relatively less expensive materials to keep the costs in check.
Many of today’s trades are true artisans. To get that perfectly aligned grain in the Rift Cut Oak doesn’t just happen to anyone with a circular saw. Skilled labor comes at a higher price, and deservedly so. These craftsmen are perfectionists and would never be associated with sloppy workmanship. The ups and downs of the economy affects everyone, and their pricing reflects what they need to charge to make a living.
That being said, not only do you want skilled craftsmen, you want licensed professionals when it comes to plumbing (remember, they handle gas lines, too) and electricians. Homeowners (literally) put their lives in the hands of these trades. You get what you pay for, and this is the perfect example of why you should pay for licensed workers- to avoid a disastrous situation.
“You can do it, it’s just gonna cost you”. A phrase heard throughout the interior design community when working on a design that involves construction. Anything can be done, it’ll just cost more. We like to explain it this way, it’s all about the “zero’s”. The number you have in mind for your renovation budget can determine the number you’ll get on your construction estimate. Meaning, the more zero’s you have, the more you can spend. Taking out a load-bearing wall and replacing it with a hidden support beam can be done but can be expensive. As designers, we take those “zero’s” into consideration when we design. Where to focus to achieve the end results our clients want, but also to advise them on how to get the most out of the spaces we’re designing. We like to “get in your head” on what you value before we meet with the contractor. On our trade day, we bring our design ideas with us- all of them, and determine what we can work with regarding budget. Our clients are always along for the ride. After all, it’s their house and their money.
We always help our clients figure out a good range of what renovations costs will be on their home and guide them to what changes will give them the most bang for their buck. We make sure we focus on what’s important to them, and not our portfolio. We feel it is our responsibility to educate our clients based on experience of many renovation projects through the years.
No, we did not give an actual number or answer on what a homeowner should spend on renovations- once again, we advise but it’s ultimately the homeowner’s decision. Need help? Give us a call and we can go through the steps above with you and see what works best for you and your home.
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