Wednesday, June 10, 2009

Colorado Home Values Holding up, Kitchen Remodels Still Make Sense

Press release provided by Linden Designs

While unfortunate homeowners in California and Florida experienced precipitous home price drops of up to 40 percent in 2008, home values up and down the front range have held steady, falling less than 2% in 2008 and showing solid appreciation in the past five years. Despite the rocky economy, homes remain a good investment in Colorado and Wyoming. (Source: Federal Housing Finance Agency. Data released February 24, 2009)

According to Remodel Magazine, return on investment for kitchen remodeling has dropped very little. What’s more, home mortgage and home equity loan rates are at historic lows right now & contractors are more available to create the perfect environment to remodel your kitchen.

Not all Kitchen remodels are created equal! Consumers should consider the quality of their remodeling choices to maximize their return on investment.

5 Cost-Conscious Kitchen Remodel Tips:

1. 1. Do it yourself

While bad DIY work is a bad investment and can actually devalue your home, competent do-it-yourself projects can save your budget. Tile work is a good example. In Colorado, average tile installation rates run about $10 per square foot, including underlayment and other prep. But if you choose inexpensive tile flooring, you may only pay $2 a square foot for the tile. Learning to lay tile yourself is a doable DIY task that adds value and saves cash.

2. 2. Low-cost countertops

Who doesn’t want granite or soapstone? In the past decade, we all grew accustomed to equating high-end kitchens with solid-surface countertops.

But low-cost laminate in a tasteful solid or mottled black can give a similar appearance and function at a much lower cost.

3. 3. Clearance appliances

Good old scratch-and-dent and floor model appliances are a good bet right now, as are overstock models. Just like car dealers, many appliance dealers in this economy have a surplus of appliances to move, so you might just get a great deal if you keep looking and are bold enough to haggle. While you’re at it, look for Energy Star ratings, which will also save on energy costs.

4. 4. Reused materials

Visit your local thrift shops to look for interesting lighting fixtures, sinks, and other remodeling treasures. Habitat for Humanity operates building materials thrift stores up and down the Front Range, and all the money you spend goes to help build Habitat homes.

5. 5. Efficient cabinet design

A good kitchen designer can save you hundreds—even thousands— of dollars on your kitchen cabinets. Drawers are more expensive than cabinets with doors, for example, so if your budget is tight, a good designer will use drawers judiciously. Wood and finish choices also radically affect cost. Don’t skimp where it counts, though. Make sure your new cabinets are built to last. Visit for a primer on what to look for in quality cabinet construction.

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