| "Mess Hall" Kitchen Update, Pt. 4: Value Boosts and Final Tally |
| Nearly every room in the Martz's turn-of-the-century house is updated except their galley kitchen. Their do-it-yourself remodel includes new cabinets, hardwood flooring and a net equity return-on-investment of more than $13,000. |
From "Sweat Equity" episode DSEQ-203 |
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They went over their original budget by $1,000, but with a gain of over $13,000 in equity, in the big picture Ted Hagan and Jennifer Martz's hard work in their kitchen remodel really paid off.Tips for Adding Kitchen Value - On average, a kitchen remodel usually costs $30,000 but is the room most likely to get the most return in equity, but the highest ticket item is often the cabinets. Ted and Jennifer chose a stock cabinet to save money in their purchase and save even more by installing the cabinets themselves.
- Ted and Jennifer had a combination of old wood flooring that was beyond refinishing and asbestos laden linoleum under their cabinets. Instead of a costly removal of all their flooring they installed their composite snap-together hardwood flooring right on top. This is a cost effective and safe solution to an asbestos problem.
Ted and Jennifer had suitable appliances for their new kitchen. New appliances can make any kitchen look better, but a top of the line dishwasher and industrial sized oven don't necessarily return their value in equity, so shop around. By using their old appliances, they saved about $4,000.When a room, especially your kitchen is not up to date, it can single-handedly bring the value of your house down. A kitchen was a clear choice for Jennifer and Ted, bringing their home value up $30,000.Final Tally: cabinets = $6,487 flooring = $1,630 counters = $3,200 appliances = $1,825 electrician = $1,100 lighting = $359 misc. = $1,616 TOTAL = $16,217 Realtor's Estimated Value Increase = $30,000 Total Cost Of Material = $$16,217 Net Return On Investment = $13,783
RESOURCES :
Resources for Sweat Equity, episode 203:
MacDonald Hardwoods
www.macwoods.com
Daltile
www.daltile.com
Breville USA
www.brevilleusa.com
Builders Outlet
Denver, CO
Phone: 303-789-0808
Guests:
Ken Haverman, contractor
Haverman Construction
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