Shownotes
Are you thinking about a new roof? How about replacing windows or tacking a kitchen or bath remodel? What are the updated costs? What could you spend? We dive into adjusted numbers on what you might spend on a common project in your house. Are there ways to save money? Sure!
We also talk about what value that project adds to your home and do you want to do this project before you sell your home. For more information about the details of these numbers head to: https://www.remodeling.hw.net/cost-vs-value/2021/
Thanks for listening to Around the house if you want to hear more please subscribe so you get notified of the latest episode as it posts at https://around-the-house-with-e.captivate.fm/listen
We love comments and we would love reviews on how this information has helped you on your house! Thanks for listening! For more information about the show head to https://aroundthehouseonline.com/
We have moved the Pro Insider Special on Thursday to its new feed. It will no longer be on this page. You can find it and subscribe right here: https://around-the-house-pro-insider.captivate.fm/
Mentioned in this episode:
Check out our New YouTube channel @AroundtheHouse HQ
Make sure you subscribe and RING THE BELL for our brand new channel with 4k content! Click the link to take you there!
Take a second and leave us a review on your favorite podcast player!
Quick favor—if you're enjoying the show, the absolute best way you can support us is by leaving a quick review on your favorite podcast player.
Transcripts
[00:00:30] Eric Goranson: Welcome to around the house with Eric G and Carol. A new kind of home improvement show every single week. Thanks for joining us today. Happy midweek. Special. Hello, Caroline.
[:[00:00:54] Eric Goranson: See, I'm looking forward to being in Florida in a little more than a week. So [00:01:00] I'm like, all right, in my head. Looking forward to some sunshine might, uh, we're trying to figure out we have, uh, about 36 hours of playtime after the, the international building show is done design and construction week. We've got about 36 hours of play time.
[:[00:01:40] Caroline Blazovsky: Nice powdery sand. So you'd like that as long as it's, as long as you can get some warm days, you'll be okay.
[:[00:02:02] Eric Goranson: So we have an option B that's a good option. Have an option. Well, I wanted to talk today because you know, when the, every January, the new cost versus value comes out and what they did is they revise the numbers here for 2021. And this is done by remodeling magazine. So what this does is it tells you what an average project would cost.
[:[00:02:41] Caroline Blazovsky: not what you think because I was blown away. The things that you think would improve the value of your house.
[:[00:03:07] Eric Goranson: So it's really easy to go find, but they've got about 150 cities across the country. That they average out for you. So you can get an idea of what it costs in your area because in New Jersey, it's going to cost completely different than Oregon versus down in Houston, Texas versus Minneapolis. Right?
[:[00:03:31] Caroline Blazovsky: Cause I hear so many of my clients say, I'm going to add a bathroom. I'm going to add, um, a new front door and I'm doing it all for resale value. And the realtors tell you to do this too. And they're not always right. According to the.
[:[00:03:50] Eric Goranson: That are going to go, whoa, wait a minute, slow down. And then you have ones out there that are like, Hey, I want you to use my guy. Why don't you do it? And they're trying to see if. [00:04:00] Many times when they're trying to get you to do some big remodels before you sell the house, either have a really horrible house that they're trying to get up into the competition for that price range.
[:[00:04:36] Eric Goranson: At the same time, the realtor is not writing the check for the remodel. So you could end up losing some money there if you're not. And I like
[:[00:05:00] Caroline Blazovsky: It's the home.
[:[00:05:19] Eric Goranson: They'd do a survey and go, okay, realtors, what are we going to do here? If we do these, what's the. What's the return on investment in their survey. And they do this every year. Well, they hired a company to do it differently this year. So they've got quite frankly, I think more realistic numbers for the areas where they come in at.
[:[00:05:45] Caroline Blazovsky: So I'm going all right. I'm going to. Because there's a list, um, a bathroom addition. So typically people think, oh my gosh, if you have an extra half bath or you have an extra bathroom, that's going to make a big difference.
[:[00:06:07] Eric Goranson: well it's depending on what you're looking at. And so they don't have really a bathroom addition, they have a master suite addition. So if you're going to add that master bathroom onto the house, This is where, you know, cause that master bathroom is going to be a little bit bigger, a little more upscale typically than your traditional, like extra hall bathroom, right.
[:[00:07:02] Eric Goranson: Now, if you build it, like most people want to do it where you've got stone countertops, you've got the, the, the, the tub, the cool shower, you know, all those different things in there where you build it up nice. Where a lot of people want to live. It's like it's got all the neat stuff that you want, you know, tile, floors, all those things.
[:[00:07:40] Caroline Blazovsky: And that's the shocker. Cause I think people think automatically when you're investing in jailhouse, especially something that large you're going to get a bigger return.
[:[00:07:54] Eric Goranson: But you know, here's the thing too. Um, curb appeal is [00:08:00] always one of the big ones. That's always, you know, a few years ago, curb appeal was a hundred percent. You'd get everything back and more sometimes, and that's changed. And let me tell you why these numbers.
[:[00:08:30] Eric Goranson: Inflation don't you get less of return. So when the lumber prices have gone up twice on the DAC, you don't get twice the return out of the deck because the housing hasn't gone that much up. So some of these things got even more, you know, hard to gain as far as the return on. But if you look at garage door replacement, you and I were talking about this off air average job costs, 3,900 bucks.
[:[00:09:03] Caroline Blazovsky: It's all separate. Now you can't get garage doors. So you'll be waiting like six months to a year due to supply
[:[00:09:21] Caroline Blazovsky: one, Sean asks you a question.
[:[00:09:42] Caroline Blazovsky: Excuse my French, but you're not going to want to live in it. It just blows my mind. You would think that the internal project, which are more challenging to do that are harder, that it would be nice to move in and just have that done. You can do the outside at any time would be more valuable, but it's.
[:[00:10:14] Eric Goranson: It's maybe got a new garage door. It's got some new manufactured stone veneer, and they're going, this, this is pretty. I like it. They get inside and go, wow. And here's the quote that usually happens right there. I think there's even a TV show on HDTV named after this. Alright, it's got good bones. We can fix this, but you know what I mean?
[:[00:10:53] Caroline Blazovsky: and that's where I'm an anomaly. Maybe it's because I've seen so many houses, but I want to see the character of the house inside the [00:11:00] bathrooms, the kitchens be in good shape where the outside I'm like, ah, I can fix that.
[:[00:11:06] Eric Goranson: Sam the opposite. I want to do the bathrooms and the kitchen. Like I want to do it. So for me, unless I'm buying a completely finished project that I don't want to touch, which I've never done. So I don't know what that's like. I want to see, I want to see the outside stuff.
[:[00:11:25] Caroline Blazovsky: Let's just get that right off the table. People, people think there are perfect houses. It does not exist in this.
[:[00:11:48] Eric Goranson: I need a new roof. You know, are we gonna do a tech addition next year? You know, I've been wanting to remodel that bathroom for three or four years. You know, that kind of stuff. What is this stuff gonna come. [00:12:00] And, and
[:[00:12:10] Caroline Blazovsky: Garage door, but if you have a double,
[:[00:12:30] Eric Goranson: This is not, you know, it's putting some new stuff in cleaning that up. And they're saying that's $26,214. As a fluffing buff, not replacing cabinets, not, you know, not cutting it, not doing any of that. And so that's, what's interesting there.
[:[00:12:50] Eric Goranson: click on and find out and get that, get that definition here as we're talking, because you know, what's interesting when you look at that minor kitchen remodel.
[:[00:13:22] Eric Goranson: Replace the laminate countertops. This is not court. This is putting for Micah or Wilson, or back on it, install a mid-price sink and faucet new vinyl flooring finished with painted walls, trim and ceiling. That is a refresh.
[:[00:13:42] Eric Goranson: now, but that's 26,000 bucks. So when you start going down here and you go, man, I need to put new siding up.
[:[00:14:26] Eric Goranson: So it's interesting. Do you know when
[:[00:14:30] Eric Goranson: saying? Uh, so vinyl window replacement, uh, $19,385. And you get 68%.
[:[00:14:47] Eric Goranson: If you go with an windows, you're not talking doors.
[:[00:14:54] Eric Goranson: as a slider. That's not a window on the door. A slider. That's a [00:15:00] slider is a door in their category, so that's a sliding glass door. So they in this category here, like most it's a, a window is something that you open up and a doors, what you walk through.
[:[00:15:33] Eric Goranson: And I love wood windows, you know, so not too bad, but the problem is is you don't get you get, you don't get all that money back. So you only get another thousand bucks back out of the wood, even though you're spending that. So you get a little less of return now. Here's where the numbers go up. Uh, deck edition, where you're adding more deck, you know, almost 17 [00:16:00] grand.
[:[00:16:17] Caroline Blazovsky: What did they say for the deck cost? Did you say 17,000?
[:[00:16:23] Caroline Blazovsky: That's not even, that's not going to get you anything.
[:[00:16:38] Caroline Blazovsky: engineered. I mean, you're not even using, you're not even using real wood,
[:[00:16:52] Eric Goranson: Uh, you're putting on a, uh, a pressure treated deck poured, uh, with a little bench and a
[:[00:17:06] Eric Goranson: something like that. No, no, you're getting, you're not, I mean, it's all real wood, but it's not, you're not getting a decorative, a decorative wood out of there.
[:[00:17:31] Caroline Blazovsky: composite running about a square foot. Now it used to be like all of the bottlers, a square foot.
[:[00:17:36] Eric Goranson: yeah, it's all over the board because it's like asking what a car costs. You know, do you want the cheap off-brand stuff? Do you want the high-end stuff? It's all over the place. It's, you know, and
[:[00:17:52] Eric Goranson: would cause it's by the, and here's the thing.
[:[00:18:15] Eric Goranson: I was paying over a hundred bucks a board, but that's a high end dock. So you have to really go
[:[00:18:36] Caroline Blazovsky: And there's a lot of reasons why I wouldn't, but that's why I'm saying, want those looking at a deck?
[:[00:18:47] Caroline Blazovsky: I'm going with steel. So that's a whole other story, but yeah. So in my house, I'm going with a steel deck and probably some, as we talked about some sort of, um, I was thinking about going with a, [00:19:00] like a Brazilian wood or something like that, but then I talk to you and David and looked into doing stuff, you know, maybe something like the TimberTech.
[:[00:19:33] Eric Goranson: And I don't want to spend a weekend every two years, stripping, sanding, prepping, and finishing that Dak. I just don't, you know, it's just not fun. That's not a fun weekend. So that's not something
[:[00:19:59] Caroline Blazovsky: And if, and as [00:20:00] you look out, if you extend that color of that depth to your decking, it extends your house and makes it look much bigger. Like you have. And I have a second, a two tier deck, so mine's up on the second floor. Yup. And so it looks out and it makes, it gives you the feel that it's much bigger than it actually is, which is funny.
[:[00:20:43] Eric Goranson: Average cross country, 10,000 bucks on that to write a check for somebody to come in and do that. That's a $10,000 check. I don't
[:[00:20:54] Eric Goranson: Absolutely. But that's the average price for that. Now it's funny that only gives you a [00:21:00] 60.9% return, which is pretty good. But if you look back at like that steel entry door, that was at 2000 bucks, it only gave you 60.
[:[00:21:22] Caroline Blazovsky: And you'd think that the front door is the curb appeal aspect a little bit, right? You come up to the door. I always. Feeling like, you know, I feel homey or I feel that I want to go in and it's, it's a, it's a good feeling when you have a nice front door, but you're only getting 60%.
[:[00:21:53] Eric Goranson: If you want to replace the asphalt shingles on your roof. Average price right now is [00:22:00] $28,256. And that's just a regular, basic three tab. That's not something awesome. That is a basic roof replacement.
[:[00:22:17] Eric Goranson: long ago. Yep. Well, roofing has gotten more complex.
[:[00:22:37] Eric Goranson: So it's, you know, it's gotten more and what's roofing made out of it's made out of oil. That is tar base. So when you see oil prices, double your roofing prices, go through the roof, literally. So funny. So that's where that is now it's touch bathroom models again, [00:23:00] real quick, just a basic bathroom model, your hall bathroom, you know, to, to talk about what that is.
[:[00:23:37] Caroline Blazovsky: Yep. It might even be more cause I'm thinking about when we redid ours, I mean, we gutted it, but then we
[:[00:23:47] Eric Goranson: know,
[:[00:24:10] Eric Goranson: Yeah.
[:[00:24:30] Eric Goranson: That was 16,000. And so that's how far that's come up now, if you want to do a bathroom mob,
[:[00:24:53] Eric Goranson: Yeah, let's talk about this real quick. Now, if you want to do what I would call a more natural bathroom model, right? [00:25:00] This is going to make the bathroom a little bit bigger, where you're like you're taking out a closet and moving some stuff around, but you're going to Regal your, this is a gut bathroom remodel, you know, you're, you've got a shower, you've got a tub, you know, just that nice bathroom.
[:[00:25:39] Eric Goranson: just like the major kitchery model, make a guess what that is. No, I'm going to guess.
[:[00:25:50] Eric Goranson: thousand. Well, for the mid range, it's at 75
[:[00:25:56] Eric Goranson: Yeah. And here's what that is though is [00:26:00] yeah. Semi-custom wood cabinets, which is kind of like going down to your home center, grabbing it there through, by a five foot island laminate countertops, top Mount double bowl, stainless sink.
[:[00:26:34] Caroline Blazovsky: It's it's insane. I mean, I, I, I feel like we need to provide them.
[:[00:26:41] Eric Goranson: sips. Well, you know, and here's the thing, and this is really insane
[:[00:27:06] Eric Goranson: 25 years as long as.
[:[00:27:14] Caroline Blazovsky: So I'm saying that's
[:[00:27:36] Eric Goranson: They're saying it's 20 grand for vinyl window replacement. Many times you're going to do that yourself for probably half of that. You know, you can cut if you know what you're doing and you don't make mistakes, making these DIY projects, you can cut it now. Hence
[:[00:27:59] Caroline Blazovsky: This is [00:28:00] huge because you cannot afford to do all this stuff on, you know, and pay somebody to do it.
[:[00:28:19] Caroline Blazovsky: T even bigger reason why you have to learn exactly how
[:[00:28:24] Eric Goranson: So these are a lot of things we're gonna be talking about here this next year in 2022, as we go through on how to do some of these projects yourself, and to be able to knock that out. So we've got a fun show coming up this weekend. Doughy.
[:[00:28:45] Eric Goranson: How can you go over? Well, we're going to be talking about an hour. Number one, we're going to have some, have a good time talking about DIY projects that save you money. What are some things you can do that put money back in your pocket book
[:[00:29:06] Eric Goranson: And then our number two, we're going to talk about sleep. Something we probably all need just a little bit more of.
[:[00:29:18] Eric Goranson: And then why does that matter? Seem to weigh twice as what it did 20 years ago. We'll tell you that tip
[:[00:29:38] Caroline Blazovsky: Yeah, clients and I'm keeping busy. We're going to have snow storm. I've got my besties, a 50th birthday coming up this weekend.
[:[00:30:04] Eric Goranson: will be come over to the home tech zone in a show alive.
[:[00:30:22] Caroline Blazovsky: You can get on the air here. A couple of air,
[:[00:30:27] Eric Goranson: So it'll be a lot of fun. All right, let's wrap it up. Carolina and I'm Eric G and you've been listening to around the house.
