Did you know that remodeling expenses in northern NJ are among the highest in the country? A recent study has revealed that New Jersey residents spend the most on renovations, so it's a significant investment.
If you are considering a home renovation in the near future, it's a good idea to get clued up on all the costs and the factors that can impact the cost of home renovations in Montclair and northern NJ. Our G&L and Sons Renovations team has shared the common factors affecting costs you should know before committing to a remodel.
However, if you’re more interested in actual costs, you can check out our insightful blog, which covers all things costs here. Armed with this information, you should better understand common remodeling cost overruns that impact overall costs, helping you plan your home improvements more effectively.
Before we examine the factors affecting the cost of a home remodel in Montclair and northern NJ, we thought it would be helpful to shed some light on a few of the most popular home renovation projects clients undertake year to year.
Learning more about these projects might inspire you to take the leap and begin yours:
Kitchen and bathroom remodeling: Hands down, the most popular custom renovations in Montclair and northern NJ are kitchen and bathroom remodeling projects since these areas are utilized the most in a home. Also, when you consider home remodeling ROIs, it’s not difficult to understand why these projects are the most undertaken. After all, kitchen upgrades can increase a home’s value between 32% and 86%, and bathroom renovation between 50% and 70%.
Home additions: These are among the most popular remodeling projects because they allow people to expand their space. From mother-in-law and father-in-law suites to guest houses, sunrooms, and home offices, a home addition lets homeowners create the new space they need. However, the cost of home additions can be high depending on the type of addition, starting at about $40,000.
These are only a few of the possible home renovations you should consider in Montclair and northern NJ if you want to increase the value of your home and make it a place you’ll love to spend time in.
You can speak with us to learn more about other common renovation projects, including multi-room remodels, second-story additions, basement refinishing, patio and deck renovations, and more.
Home renovation costs in Montclair and northern NJ are affected by many different factors, but there are five main ones you should know about before you begin your remodel. So, have a look below at the factors that we’ve found to impact costs the most during renovations in the state:
Staggeringly, estimates have determined that about 45% of home renovation projects exceed their cost estimates because of material upgrades. Although some upgrades will grant a homeowner a better ROI when reselling or make the investment worthwhile, they can also cause financial strain.
That’s why it's crucial to consider whether the upgrades you want are worth spending over your original budget. For example, you might be interested in kitchen remodeling in Montclair and want to switch from granite to concrete countertops.
Concrete is a specialty material, so it will cost more than granite. Do you have the budget for concrete, and if you're dead set on it, will it mean sacrificing other material upgrades during your remodel?
It's up to you and your contractor to determine if premium materials like high-end appliances, high-energy-rating windows and doors, and natural stone tiling are worth a premium price. Just remember that your choice will influence the overall cost of your renovation.
Another factor that can significantly impact home renovation costs is labor pricing. Unfortunately, cheaper is not always better, and the highest price does not always indicate premium quality service. Renovation companies often offer labor prices ranging between 20% and 50% of each other.
So, when you are ready to begin a home remodeling project, you must carefully consider labor pricing and weigh it against the experience a company brings to the table. Generally, if you’re given a quote with extremely low pricing, this is a red flag and should make you suspicious. Low-priced contractors often cut corners, neglect to pay their taxes and insurance, and lack appropriate licensing.
That’s why choosing a renowned contractor known for explaining what is included in our pricing and excellent workmanship is best. Then, you will know the labor pricing is fair.
This shouldn’t come as a surprise, but in most instances, not all, the bigger the home, the more expensive it will be to remodel. This is because bigger homes require more materials, labor, and planning. In addition, bigger homes can have more complications that could be costly.
For example, if you want to build a second-story or a home addition, you will likely need to obtain permitting and architectural plans. You might not know about these additional costs, but you must pay them regardless.
Sometimes, they can even be considered ‘hidden costs’ if you don’t work with a reputable company like G&L and Sons Renovations.
In recent years, more homeowners have seen the benefits of installing smart home technology. This has led to an increased interest in systems that can control everything from lighting to sound systems, doorbell cameras, windows, doors, shades, security, and thermostats.
If you plan to implement smart home technology features in your home, it will likely impact the costs and, in most cases, increase the price of your remodel in NJ. However, these features are seen as an investment since many buyers will be interested if you ever want to sell your home. In fact, based on recent studies, upwards of 60% of buyers want a home with smart technology.
The average cost of home remodeling can also be impacted by the location of your home in New Jersey. Compared to neighboring regions like New York City, house renovations in NJ are usually more cost-effective since the state's accessibility and infrastructure lead to fewer logistical renovation obstacles.
However, specific neighborhoods in New Jersey can cost homeowners more to remodel than others. For example, northern New Jersey tends to have slightly higher square-foot pricing than other areas of the state. If you work with a contractor that knows the region well, like G&L and Sons Renovations, they can help you determine how much your home will cost to remodel.
Now you have a better idea of the key factors impacting the cost of home renovations in Montclair and Northern NJ. However, if you would like to learn more about them or have questions about custom remodeling pricing and hidden home renovation costs, you can speak with us.
Our expert team at G&L and Sons Renovations can help you minimize costs during your remodel and ensure you receive explanation of what is included in our pricing and open communication. So contact us here and ask us how we can help you.
To recap, plan your project carefully and take the time to explore what matters most to you.
If you live in our northern NJ area and are ready to create the project of your dreams we'd love to hear from you.