Some home remodelling projects just aren’t worth it—and that’s good for resurfacers!
Homeowners are always looking to upgrade their homes. Kitchens and bathrooms are usually on the list. However, major remodels of either of these may not be the best option when you consider how much the homeowner will recoup when the sell the house.
Take kitchens as an example, according to a 2016 report by remodelling.hw.net, major kitchen remodels usually cost around $60K but yield only $39K in resale value, or 65%. Instead of going down to the studs, a minor kitchen remodel costs around $20K but gives back a whopping 83% in resale value, or $16.7K. It doesn’t take a rocket scientist to see how this plays into the hands of bathtub resurfacers.
Using NAPCO’s High Build Primer, cabinet refinishers can hide old paint or wood grain, providing a suitable surface for top coats. This is so much less expensive than even refacing cabinets. In most cases, older kitchen counters are in good shape, they just look tired. You can breathe new life into them using NAPCO’s faux-granite topcoat, Flintstone. It comes in tons of colors to appeal to any customer. Again, the cost to refinish counters saves thousands over replacement.
According to the remodelling.hw.net report, a complete bathroom remodel will cost $18K and yield $11.7K at resale; a return of just 65.7%. They don’t measure a minor bathroom remodel costs, but we know it would cost much, much less, even if we resurfaced the tub, tile and vanity top. Again, for many homeowners it is hard to justify doing a complete remodel.
How can you use this information? Take your time talking to prospects. Ask them what they are trying to achieve or what they don’t like about their kitchen or bathroom. If you can get them talking, they might tell you they are considering a complete remodel. Before you email them a quote, send them a link to the study. They can see for themselves how much they would save and how get back on resale.
The complete report is online here.