The Phoenix housing market is historically tight this year, with not much wiggle room predicted for 2020. Housing costs have steadily increased and are forecasted to maintain that trend. With more homeowners hanging on to their properties, improving them is consistently the option they choose rather than selling. (Home Buying Institute)
Have you been thinking about improving your property? Sometimes, it’s difficult to know where to put your dollars. While we can’t make that decision for you, we can pass along some average costs of projects that are typical for the Phoenix area. Maybe this can assist you in determining the next steps to take. (All figures taken from HomeAdvisor.com and are simply averages for jobs completed in the Phoenix area in 2019.)
Lower Cost Projects
The most bang for your buck is always going to be interior painting. Of course, depending on the square footage of your home, the cost will vary. Here in Phoenix and the surrounding areas, the average cost of an interior paint job on a residential property is $1,754. Now if you’ve ever painted your own interior spaces, you are familiar with the prep work involved, along with the potential for annoying mistakes and mishaps. That $1,754 is simply a bargain when looking at the big picture! And you can’t put a price on the feeling that a clean, fresh coat of paint does for one.
If you’re going for a bigger change, painting the exterior of your home definitely fits that bill. An exterior paint cost in the Valley typically costs $2,800: still an excellent investment in the improvement and/or maintenance of your abode. Maybe you’re not looking to make a drastic change to the outside of your home. However, an honest assessment of your paint’s condition might be a good idea right now. And if you’re one of the homeowners who is currently holding on to their property, why decide to paint before you list it simply for the new owners to enjoy? Get some pleasure out of the welcoming look that fresh paint gives.
For a slightly bigger investment, replacing windows is great project to complete! We don’t need to tell you that with the harsh heat we endure here, the wear and tear on our windows is intense. It doesn’t hurt to have a professional come out and inspect your windows and exterior doors. This is particularly true if the windows & doors are original to your home. Obviously, the figure to replace windows varies widely based on the number of windows, their sizes, and the type with which you choose to replace your existing ones. But the average cost is $5,094. Again, a professional can guide you as to your true need here.
When You Want a Bit More
Of course, two of the major projects you could opt to undertake as you wait out the current market are bathroom and kitchen remodels. But even these projects can be small, extensive, or something in between. The average bathroom remodel in this area runs $10,239, while a kitchen remodel is more around $22,947. Among the positives of engaging in these types of projects is the ability to make the spaces your own, if you so choose. From faucet design, to cabinet colors and/or materials, to flooring: the choices are yours! When comparing the cost of a remodel with purchasing a new home, replacing your appliances and giving your existing kitchen and/or bath a brand new look is a no-brainer.
We hope these facts and figures have provided you with some food for thought. If you have any project you’re looking to complete, and would like an estimate on your specific job, please give us a call. We would love to help make your dreams a reality! Give Lance a call (480-442-2341), or message us here through the website. You can also visit our Facebook page and message us there.
