One of the first, and often the stickiest, question that comes to mind when you’re considering whether to take on any home project is….

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“Will it take a little money or big money!?”

 

As a follow up to the previous post titled, “Kitchen and Bath Remodeling:  What Does it Cost?” I wanted to again point you towards a great tool that the staff at Houzz.com has put together.  In order to see and use the tool, it appears that you must have a Houzz account and be logged in.  At the home page look for the “Try the Real Cost Finder” badge at the top of the page near “What Do You Want to Do on Houzz Today”.  Click on the box and you’ll be directed to the Cost Finder.

The data you’ll find in the Cost Finder is derived from a survey of more than 100,000 members of the Houzz community.  This community includes homeowners, design professionals, and construction professionals.  The costs provided are from actual built projects, not estimated project costs, and if you’ve ever taken on a project – you know the difference.  As an example reported by Liza Hausman at a recent presentation I attended on the survey, 41% of Chicago remodeling projects went over their intended budget!  This is why it’s always good to plan for and set aside a “contingency” in your project budget – save a portion for for changes and surprises along the way.

What Does the Cost Finder Do?

  • Allow you to select the project type ranging from Whole House Remodel or Custom Home – to Bath or Kitchen Remodel – to Room Decor and Furnishing.
  • Tailor your cost results to include information from either a city region (and/or zip code) or a larger state region.
  • Gives you a Lower/Middle/Top Third tier of costs for the given project type you’ve selected along with the associated Average Cost.
  • For each project type and location you specify, the Finder also provides some key comparison information on the demographics of those who have completed such projects.  These include:  the percentage who hired a professional for their project, the average home value, and the average household income.
  • An infographic styled map indicating relative costs for the same project at locations across the country.
  • Associated links to design guides and professionals to help you with your considered project.

What Doesn’t the Cost Finder Do?

  • Segregate the cost data relative to design style.
  • Link project costs to particular square foot cost averages for the project type.

These should not be understood as drawbacks to the Cost Finder however.  This tool is an excellent resource and guide used to set preliminary expectations and budgets for any home project you may be considering.  Use this to find a “ballpark” range for your project and discuss it further with your design/building team early in the design process.

It also bears repeating that it’s important to remember that project cost will always be affected by both the project’s quantity and the project’s quality.  In other words, the amount of square feet and the selection of good/better/best materials and finishes will come to bear on the project cost.  Decisions made throughout the design and construction process will need to be made in this light.

Check out this tool!  Thanks to the Houzz team for once again providing indispensable information for those considering home remodeling or a custom designed home…..

Contact gordon architecture when you’re ready to explore options!

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