INSPIRATION & IDEAS

Breaking Down the 2016 Cost vs Value for Interior Remodeling

interior remodeling chicago

Each year, Remodeling Magazine puts out a report that shows the cost vs. value of many large home remodeling projects. This is helpful when you are trying to make a decision about budget verses resale value for whatever project you’re considering. For interior remodeling projects, the report breaks down each of the following projects that we at Archway also provide:

  • Basement Remodel
  • Bathroom Addition
  • Bathroom Remodel
  • Major Kitchen Remodel
  • Minor Kitchen Remodel

 

Below we will break down the description of each of these projects and the cost, resale value, and percentage of recuperation you can expect. These reflect remodeling costs in Chicago. To see national averages or a different region, you can download the full report here.

 

BASEMENT REMODEL

basement remodeling chicago

According to the report, a basement remodel in Chicago means finishing the lower level of a house to create a 20-by-30-foot entertaining area with wet bar and a 5-by-8-foot full bathroom. The construction elements involved would be as follows:

  • Constructing 24 linear feet of finished partition to enclose mechanical area.
  • Walls and ceilings are painted drywall throughout and exterior walls are insulated, with painted trim throughout.
  • Adding five six panel factory-painted hardboard doors with passage locksets, and electrical wiring to code.
  • Main room: Adding 15 recessed ceiling light fixtures (can lights) and three surface-mounted light fixtures, and a snap-together laminate flooring system (or comparable).
  • Bathroom: Adding a standard white toilet, vanity with cultured marble or granite countertop, resilient flooring, two-piece fiberglass shower unit, a light/fan combination, vanity light fixtures, and a medicine cabinet, towel and paper-holder hardware.
  • Bar area: Adding 10 linear feet of raised panel oak cabinets with laminate countertops, stainless steel bar sink, single-lever bar faucet, under counter refrigerator, and vinyl floor tile.

 

Basement Remodeling Costs

Midrange
Job Cost – $84,241
Resale Value – $47,359
Cost Recouped – 56.2%

 

BATHROOM ADDITION

bathroom addition chicago

A bathroom addition consists of adding a full 6-by-8-foot bathroom over a crawlspace with poured concrete walls. The construction elements of the bathroom are as follows:

  • cultured-marble vanity top with molded sink
  • standard chrome faucets
  • 30-by-60-inch white fiberglass tub/shower with ceramic or porcelain tile surround
  • single-lever temperature and pressure-balanced faucet
  • white low-profile toilet
  • general and spot lighting
  • Electrical wiring to code
  • mirrored medicine cabinet
  • linen storage closet or cabinet
  • Painted trim and ceramic tile floor

 

Bathroom Addition Costs

Midrange
Job Cost – $52,311
Resale Value – $25,079
Cost Recouped – 47.9%

 

BATHROOM REMODEL

bathroom remodeling chicago

A Chicago bathroom remodel refers to updating an existing 5-by-7-foot bathroom by demolishing it down to the studs and replacing everything, including:

  • Replace all fixtures to include 30-by-60-inch porcelain-on steel tub with 4-by-4-inch ceramic tile surround
  • New single-lever temperature and pressure balanced shower control
  • Standard white toilet
  • Solid-surface vanity counter with integral sink
  • Recessed medicine cabinet with light
  • Ceramic or porcelain tile floor

 

Bathroom Remodel Costs

Midrange
Job Cost – $22,213
Resale Value – $13,126
Cost Recouped – 59.1%

Upscale
Job Cost $64,584
Resale Value $ 37,553
Cost Recouped 58.1%

 

MAJOR KITCHEN REMODEL

Soft lighting fixtures combine with an updated kitchen restoration with bold artwork and backsplash

According to the report, a major kitchen remodel consists of update an outdated 200-square-foot kitchen with a functional layout of 30 linear feet of semi-custom wood cabinets, including:

  • a 3-by-5-foot island;
  • laminate or granite countertops
  • standard double tub stainless-steel sink with standard single-lever faucet
  • Energy-efficient wall oven, cooktop, ventilation system, built-in microwave, dishwasher, garbage disposal, and custom lighting.
  • Add new resilient flooring.
  • Finish with painted walls, trim, and ceiling.

 

Major Kitchen Remodel Costs

Midrange
Job Cost $68,874
Resale Value $39,682
Cost Recouped 57.6%

Upscale
Job Cost $68,874
Resale Value $39,682
Cost Recouped 57.6%

 

MINOR KITCHEN REMODEL

Transitional kitchen to living room to improve utility in a small space

A minor kitchen remodel is considered a remodel of a functional but dated 200-square-foot kitchen by adding 30 linear feet of cabinetry and countertops, replacing cabinets with new raised-panel wood doors and drawers, including new hardware. Also adding the following:

  • Replace wall oven, cooktop, and slide-in refrigerator with new energy-efficient models.
  • Replace laminate countertops; install mid-priced sink and faucet.
  • Repaint trim, add wall covering, and remove and replace resilient flooring.

 

Minor Kitchen Remodel Costs

Midrange
Job Cost $23,760
Resale Value $17,196
Cost Recouped 72.4%

Upscale
Job Cost – $91,389
Resale Value – $46,326
Cost Recouped – 50.7%

 

Interior Remodeling Chicago

If you are considering an interior remodeling project in Chicago and would like to learn more about how to get the most value from your project, please contact us today and schedule your complimentary in-home estimates with one of our interior design professionals!