Bathroom and Kitchen Remodeling: What Will You Really Get Back?

Eric G.: 00:00:47

Foreign.

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It's around the house.

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On this episode of around the House, we've been talking kitchen remodeling, cost versus value report.

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And the one thing we didn't talk about here that I skipped over that I shouldn't have is what's the cost recouped?

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And this is a big number here.

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And I just was, well, we were a break.

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I was going, wait a minute.

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We didn't even talk about what the cost recoup was for those first ones.

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So that minor kitchen remodel.

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If you're just joining us, around the House show is brought to you by Pyramid Heating and Cooling.

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yramid heating.com Oregon CCB: 59382

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This is AROUND the house.

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Welcome to the Round the House show, the next generation of home improvement.

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I'm Eric G.

Eric G.: 00:01:50

Thanks for joining me today.

Eric G.: 00:01:52

We have got a great hour ahead here.

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First off, this hour is brought to you by our friends at Monty McGrills to find out more about them and if you're ready for that barbecue for the big game coming up.

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Maybe you're a Chiefs fan.

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Well, maybe you're an Eagles fan either way or you're just like me, fan of neither one.

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But I'm gonna watch the game anyway because at least I can watch some cool commercials and it's a good reason to barbecue.

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Check them out at Monument Grills.

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Well, we've got some background noise out here.

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Just we're gonna have to put up with it here this week.

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I have a house four or five doors down, four doors down for me that is getting demolished.

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So even the best soundproofing sometimes doesn't fix that.

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So we got a little bit of ambiance in the background and that's something that we're not gonna talk really too much about today.

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But here's what interesting this place bought for I think $1.2 million on the lake and they're tearing it down.

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And I'm not one to say save this house.

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It was a really goofy, poorly done, late mid century house that was kind of an ugly duckling.

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And I get why they did it.

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It was interesting though, they had about a month of asbestos to take out of that thing and now they're tearing it down down there.

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Of course there'll be A new house going down there, but interesting time in the neighborhood with another sign going up.

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I just saw the people moving out three doors down, up the other cross street from my house and builders sign is already in the front yard.

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So that one's going to be coming down as well.

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So a lot of noise in the neighborhood right now.

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But today we're going to be talking about what's remodeling cost, what's our cost?

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And we're going to do kind of an east coast versus west coast.

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Since I'm in Portland, Oregon region, we're going to do that versus, let's say New York.

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So we're going to do kind of east versus West.

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And what are the averages between these?

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And of course, what's the return on investment?

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What is your cost recouped out of that remodel?

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And some of these things are going to defy what common judgment is.

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And it's interesting.

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So this hour we're going to be talking about interior remodeling.

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And this is a big one here because I tell you what, it's a big project to take on a remodeling project especially let's start out with a kitchen, because that's a hot one.

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And there's multiple ways of doing kitchens out there.

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There's different stages.

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You know, you're going to do just kind of the, what I call the fluff and buff, or you're going to do a nice kitchen model, or you're going to do the upscale, you know, high end, you know, sub zero mila high end appliances, stone countertops, that kind of thing.

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So let's talk about what those costs are on average.

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And these numbers I get from remodeling magazine's Cost vs.

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Value report, which to me has been over the, geez, 30 years in the industry for me has been one of the most realistic as far as expectations.

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Now this is what you would do if you were gonna call and hire a contractor to come do the project.

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These are not DIY numbers, but many times on these things that are DIY, you can save, you know, 30, 40, 50% by doing it yourself off of these numbers.

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So it's just kind of a good idea.

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And this is not really accounting into too much where the numbers are to go this year with a fleet inflation.

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So these numbers could be, you know, by the time they get the report together, put it out, it's kind of where the numbers were like summer of last year versus summer of this year.

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So just to keep that in mind.

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So let's talk.

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Start out here first by talking about a mid range miner kitchen model.

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So let's talk about the rules because the rules are really what's important here that go with the numbers.

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Because I can throw a number out there but it doesn't mean anything unless you know what the parameters are.

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So you're going to take and update a functional but dated 200 square foot kitchen.

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You're going to leave the 30 lineal feet of cabinet boxes in place, but replace the fronts with new shaker wood panels and drawer fronts including hardware.

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So basically a reface.

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You're going to replace the combination cooktop oven, range and slide in refrigerator with new energy efficient models.

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Install mid price sink and faucet.

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You're going to replace 30 linear feet of laminate countertop and repaint trim, add wall covering like wallpaper or painting, that kind of thing.

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Remove and replace resilient flooring.

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Resilient flooring is vinyl.

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So we're refacing the kitchen.

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We're putting new fronts like a shaker style wood panel on them.

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New hardware, new laminate countertops, new mid price sink and faucet.

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So top mount sink and faucet, new range and oven, and of course the new vinyl flooring.

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Maybe you'll do a little, you know, maybe you'll do a little painting and of course maybe at best put in click lock flooring down there.

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But they're saying basically sheet vinyl.

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So we're going to start out with New York here on what this is and we'll even talk about kind of what the regional and the national averages are.

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So if we're looking at a minor, minor kitchen model in that mid range job, cost in New York is $30,928.

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Now what's that compared to the national averages?

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About 3,000 bucks more at 27,492.

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So really that's kind of where you're at on that.

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So New York is at: 3923

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So we're right where that national average is here, but slightly lower than what the Pacific coast region is.

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So really that tells you if you're going to just do a really quick fluff and buff new door fronts, new laminate countertop Sink.

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That's a $30,000 remodel for 30 lineal feet of cabinet boxes.

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So that kind of tells you where you're out there.

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Which that's a lot of money for a lot of people.

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But that kind of gives you an idea for budgeting.

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Now let's go up to the next one.

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Let's run it up another notch.

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What does that mid range major kitchen model look like?

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So now we see major is an additional word here.

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So we're going to update an outdated 200 square foot kitchen with a functional layout of 30 lineal feet of semi custom wood cabinets.

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So semi custom wood cabinets.

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Basically you're going to go into your home center and you're going to order something, you know, like craft made or you know, any one of those brands that you see in the home center.

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Not something off the shelf, but you're going to order something.

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Install a 3 by 5 foot island, laminate countertops.

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Pay attention to that.

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A standard double tub, stainless steel sink, which would be a top mount, standard single level faucet.

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So no pull outs, nothing crazy.

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You're going to put an energy efficient range, new ventilation system.

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So whatever that hood is built in, microwave, dishwasher, garbage disposal and some custom lighting.

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Add new vinyl flooring and finish with painted walls, trim and ceiling.

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And I know a lot of you guys are going, I'm not putting a laminate back in there, I'm not putting in vinyl flooring.

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But you kind of get the idea of where that's going.

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So back to our New York numbers again.

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That's going to be at 89, 637, which our national average is at 79,090.

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And here in my home area that is 81, 7 58.

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So pretty close.

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So you're 80 to $90,000 for that remodel.

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And that's with new cabinets, new laminate, all of that kind of tells you where a remodel that most people want to do.

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All of a sudden you're starting to get it.

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90,000 bucks.

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With laminate it's pretty easy to go.

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I want different flooring, I want different countert.

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Now a kitch remodel with that is a legitimate six figure kitchen model.

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And when we come back, I want to talk a little bit more about this because some of that's just not doing this stuff.

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Some of it is the stuff that you have to do in the background which is, you know, adding things to this to bring it up to code because you're going to pull permits and depending on the code in your area, you're going to have to do something different there.

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So when we come back, I want to just touch on that.

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What are the big things that you're going to have to do with a kitchen remodel?

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And then we're going to talk about the upscale one of really doing it what you want to see it.

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Let what most people's dream kitchen looks like, no matter the house.

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We'll do that just as soon as around the House returns.

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Make sure if you want to find out more information about us, head over to our website@aroundthehouse online.com.

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we'll be right back.

Eric G.: 00:10:33

Should I be allowed to be so hot, so many people without.

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Welcome back to the around the House show, the next generation of home Improvement.

Eric G.: 00:12:33

I'm Eric G.

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This hour is brought to you by our friends at Monument Grills.

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Check them out@monumentgrills.com well, we've been talking kitchen modeling, cost versus value report.

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And the one thing we didn't talk about here, that I skipped over that I shouldn't have is what's the cost recouped?

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And this is a big number here.

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And I just was, well, we were a break.

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I was going, wait a minute, we didn't even talk about what the cost recoup was for those first ones.

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So that minor kitchen model, if you're just joining us in New York City, that was at 30,923.

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Cost recouped 101.9%.

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Man, that is money back in your pocket.

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So as far as adding value to that, that's good money.

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The same thing in the Portland area, except it's 123% of the cost recouped.

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So on that one you made your money back and then some.

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So that's that in my eyes is a good investment on that.

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And then right before we went to break, we were talking about the major kitchen model.

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And this is where we start to go sideways.

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So in New York, our major kitchen model, mid range was at 89, 637, laminate, countertops, vinyl flooring, that kind of stuff.

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Cost recouped 54%.

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Ouch.

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Not a great return unless you're just putting it up for sale and you're trying to make it look shiny and pretty.

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And in Portland, not much better at 58.9%.

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And the average cost recouped national average is 49.5%.

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So for every dollar you invest in a mid range kitchen model, you add 50% of that to your value.

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So not too bad, not too bad.

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I've seen worse, I've seen better.

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And some of the things we got to think about when we get into this mid range kitchen model, there are things you have to deal with that are included and not included.

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Usually when you're pulling permits on this kind of stuff, the first thing is, is you're gonna have to add electrical circuits.

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So this is where these sideways projects can happen because you go, oh wow, my kitchen built in the 70s.

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Let's say it's pretty common to have your outlets and the lights on the same circuit.

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Those are gonna be different.

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Need to have GFCI outlets, you need to have.

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Each appliance needs to have its own dedicated circuit.

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So you're talking refrigerator, dishwasher, if you've got a range, of course, you know, you get into garbage disposal, got a microwave.

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There's a lot of dedicated circuits here.

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So sometimes you can add 2, 3, 4 circuits, as much as 5, depending on the appliances you pick.

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And that's where that starts to get expensive.

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Because if you need to go add another electrical panel to that, that can be five to ten thousand bucks.

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Now all of a sudden that's getting to be a very expensive remodel just to get it up to code.

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So something to consider when you're looking at these numbers.

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So the next one here and thanks to the cost versus value report for getting this information.

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So we could deep dive into it and take a look and see what these real costs are.

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So the next description, and like I said, the descriptions here are the big part.

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Upscale major kitchen remodel.

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So this is not luxury, but it's upscale.

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You're going to update that same 200 square foot kitchen with 30 lineal feet of custom white cabinets with built in sliding shelves.

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Install stone countertops with ceramic or glass tile backsplash under Mount sink.

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Nice designer faucet, water filtration system, a built in refrigerator, commercial grade cooktop vent hood, wall oven built in microwave unit, low voltage under cabinet lights.

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Install tile or flooring that looks like wood.

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So that is an upscale.

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Now we haven't changed the size of it.

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So here's where Things get expensive.

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Let's take a look.

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So in New York, we start with them.

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Major kitchen model.

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$180,733 is the average price for that.

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And the average cost recoup is 38.9.

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That is on the lower end of the scale, but not anywhere near the lowest as cost recouped.

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But if you're going to live there, that's another thing, right?

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It's not maybe about the cost recoup because you're not putting on the market tomorrow, but you just want to have a nice kitchen to cook in.

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So next up here, major kitchen remodel in the Portland, Oregon area.

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163,540 bucks with a 54.1% cost recoup.

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So our national average on a major kitchen remodel is actually 158,530 bucks for all the things that we had in that list.

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So again, big money.

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You know, you're talking expensive appliances.

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This is really kind of what people's dream kitchen, if they were going to jump on Pinterest or create their own book of what do they want in their dream kitchen.

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So you're up there in that $160,000 average price range on up.

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Something to consider.

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Now let's dive into bathrooms here because this is another one that can be shockingly expensive.

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Now, one last thing on the kitchen, you can save some money doing it yourself, but you're still going to want to hire a designer to help do the layout for you to work through those things.

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And who knows what your ability is, but it's something that can be tackled.

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Just think about it.

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A kitchen remodel can take, you know, four to 12 weeks, depending on what you're doing.

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That's for a good kitchen model with a contractor in there, different trades, not having the trades working over the top of each other, you know, demos a couple days.

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Now we're getting, you know, electrical done.

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We've got plumbers in there.

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We've got all the different stuff going on.

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We've got all the different permits.

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That's just kind of how that works.

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So there's not a one week Kitch remodel.

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Guys, I'm sorry, not.

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That's going to do quality work.

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There's rarely a one month Kitch remodel unless it's something small like a, like a reface or something like that where it's not that big a deal.

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If you're opening walls up, pretty much think that's, you know, six to 12 weeks on average with a Good contractor.

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So depending on how fast your municipality can get in there for inspections and all those things, if those are applicable in your area.

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So let's talk mid range bathroom remodel.

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We're going to update an existing 5 by 7 foot bathroom with ceramic tile floor.

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So think about that five by seven.

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That's kind of that hall bathroom bathtub at the end.

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You walk in on the right or the left, get a vanity and a, you know, and a toilet bathtub at the end.

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Pretty simple.

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So with that, we're going to update an existing 5 by 7 foot bathroom with ceramic tile floor.

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Replace the existing tub with a 30 by 60 inch porcelain on steel.

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Yikes.

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Tub with ceramic tile surround and new single level shower control.

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We're going to replace the fixtures with new standard white toilet, solid surface vanity counter with integral sink and recessed medicine cabinet with light.

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So let's talk about a couple things here.

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First off, we're replacing the existing tub with one of the cheapest tubs on the market that I don't recommend.

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And that's a 30x60 porcelain on steel.

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So it's basically a painted steel tub with ceramic tile surround and new single lever shower control.

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Now there's one thing that's omitted on this list and that is I don't see any new cabinets here.

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So you're going to leave those cabinets there.

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Solid surface vanity counter with integral sink and recessed medicine cabinet with light.

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So we're not changing ventilation, we're not doing anything else and that gets interesting.

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So when we come back, we'll talk about the numbers on the bathroom because that's a big one right there.

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You'll be surprised at what the numbers are for something this basic.

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To find out more about us or if you've got questions on what a remodel costs, hit me up.

Eric G.: 00:20:54

Route online.com and make sure you're following us on the social media channels.

Eric G.: 00:20:58

We have our own YouTube channel.

Eric G.: 00:20:59

I think we've got three YouTubes out there.

Eric G.: 00:21:01

One for the, two for the TV show, one for my stuff.

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But you can find it all@aroundthehouseonline.com.

Eric G.: 00:21:07

we'll be right back after these important messages.

Eric G.: 00:21:09

Don't change that dial.

Eric G.: 00:21:10

We're just getting started.

Eric G.: 00:23:35

Welcome to the around the house show, the next generation of home improvement.

Eric G.: 00:23:39

I'm Eric G.

Eric G.: 00:23:40

Thanks for joining me.

Eric G.: 00:23:41

We have been talking today about what remodeling costs and kind of going over the cost versus value report.

Eric G.: 00:23:47

But first, this hour is brought to you by our friends at Monument Grills.

Eric G.: 00:23:51

If you want to find that great barbecue for under 900 bucks.

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Check it out@monumentgrills.com We've been talking about these different remodeling projects right here.

Eric G.: 00:23:59

And if you're just joining us, if you're on the podcast, you've been listening, I totally get it.

Eric G.: 00:24:04

But I want to get our radio listeners caught up right here that might have just tuned in as they're out running around today.

Eric G.: 00:24:09

I wanted to say that I appreciate every single one of you out there, whether you're listening here in California or if you're on the other side of the country out in the Hamptons or even in our friends over at wto.

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And we've got a lot of great people all across coast to coast, Hawaii, Alaska.

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I hear you all out there.

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And if you want to find out more about us, head to aroundthe house online.com and don't forget, you can always join the podcast on your favorite podcast player.

Eric G.: 00:24:38

We've been talking here, jumping into bathroom remodeling here.

Eric G.: 00:24:42

We did earlier in the show, kind of the first half what we were talking kitchen and we're talking interior stuff here today in this hour.

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That mid range bathroom model is really basic.

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It's that five by seven hall bathroom, basically tub, vanity, toilet, tubs on the end, usually that kind of thing.

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We went through the parameters on that really basic, not replacing the cabinet, you know, keeping it simple.

Eric G.: 00:25:06

If we go here into New York, which is our other one, because I can't compare everybody here, it'd be kind of crazy.

Eric G.: 00:25:13

I just wanted to go a coast to coast battle here.

Eric G.: 00:25:15

If we look at mid range bathroom remodel in New York, average price $30,235, your cost recouped pretty good at 67.9%.

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We're here in Portland, Oregon where I'm at 28, 926.

Eric G.: 00:25:33

Wow.

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At a 76.7%, that's pretty good.

Eric G.: 00:25:37

That's pretty good on the cost versus value.

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Now keep in mind for 30,000 bucks, you're reusing the cabinet.

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You got a cheap toilet, you got a cheap tub.

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You're not doing anything with the fans really the lights.

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You might have a medicine cabinet with light, but who does that so much anymore?

Eric G.: 00:25:53

That's pretty dated.

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That's the base model for this.

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Now when we get into the upscale bathroom remodel, this is where it gets a little more exciting.

Eric G.: 00:26:02

You're going to expand an existing 35 square foot bathroom to 100 square feet with large ceramic tile floor in floor heating, install a 42 by 42 Neo angle shower with ceramic tile walls, body spray fixtures, frameless glass enclosure, heated towel bar, freestanding soaker tub with high end faucets, compartmentalized commode area with one piece toilet.

Eric G.: 00:26:27

Install a custom drawer base and wall cabinets and stone countertop with two sinks.

Eric G.: 00:26:34

All right, there we go.

Eric G.: 00:26:36

Upscale.

Eric G.: 00:26:37

Now this is not an additional.

Eric G.: 00:26:39

This is kind of.

Eric G.: 00:26:40

You're probably adding this out of another room, a closet, something like that.

Eric G.: 00:26:45

They're not talking about adding out the back of the house.

Eric G.: 00:26:47

But this is what an upscale bathroom model consists of.

Eric G.: 00:26:51

Again, I don't see them really dealing with ventilation or anything in there.

Eric G.: 00:26:54

If it's not on the list, it's not getting done like a contract.

Eric G.: 00:26:57

Let's take a look.

Eric G.: 00:26:58

What's it looking like in New York City for this one?

Eric G.: 00:27:01

So that upscale bathroom model, 89,921 bucks, 45% cost recoup here in Portland, 88,000.

Eric G.: 00:27:14

So a 46.8% recoup with our national average cost, it's 78,840 and a 45% cost recouped.

Eric G.: 00:27:23

That tells you right there that if you're going to do a really nice bathroom remodel, nothing too crazy, but nice bathroom model that's in that kind of.

Eric G.: 00:27:32

Well, pretty good, pretty good price here of that 80 to $100,000 depending on what you're doing.

Eric G.: 00:27:39

So that gets to add up really quickly.

Eric G.: 00:27:42

Now here's the next one and this one's good for you guys out there that are maybe looking at grandmother's house, your parents or an aunt and uncle or maybe for your own place, a universal design bathroom.

Eric G.: 00:27:56

So this is something that's going to be fully accessible.

Eric G.: 00:27:59

You're going to update the 5 by 7 foot space to be wheelchair accessible, 0 threshold, 36 inch wide door.

Eric G.: 00:28:07

Install flat panel electrical switches at sitting level.

Eric G.: 00:28:10

Replace toilet with comfort height fixture featuring elongated bowl bidet type seat.

Eric G.: 00:28:15

Remove existing bathtub and install curbless tiled walk in shower with adjustable shower head fold out seat, thermostatic mixing valve, bi directional glass door.

Eric G.: 00:28:26

You're going to put new flooring with electric radiant heat.

Eric G.: 00:28:29

New luxury vinyl flooring.

Eric G.: 00:28:31

Install adaptive living vanity with great easy grip handles, adjustable mirror, LED lights, infrared ceiling light, night light ultra quiet vent fan with humidity sensing controls.

Eric G.: 00:28:42

Install ceramic towels on walls with two constant contrasting color stripes.

Eric G.: 00:28:46

Install nine towel bars that can support 250 pounds and reconfigure storage to be accessible from a sitting position.

Eric G.: 00:28:56

This is a nice bathroom, guys.

Eric G.: 00:28:58

If we look here in New York again, what's the cost on this?

Eric G.: 00:29:02

This is where stuff gets up there pretty good.

Eric G.: 00:29:04

In New York, $46,478, 50.8%.

Eric G.: 00:29:10

And here on the west coast in Portland, we're talking $45,809 at a 55.3%.

Eric G.: 00:29:19

And if you look nationally here, they're saying it's about a $40,000 remodel at a 49.4% recoup rate.

Eric G.: 00:29:30

That to me, to be honest, sounds a little inexpensive.

Eric G.: 00:29:34

I think that one might be a little low considering what you all have to do to that in many spaces.

Eric G.: 00:29:39

I think that's a best case scenario.

Eric G.: 00:29:41

I would not be surprised if that starts to get up to closer to that upscale bathroom model just because of a lot of the good fixtures that are in there.

Eric G.: 00:29:51

Something to think about when you get to that universal design.

Eric G.: 00:29:55

Let's talk about a mid range bathroom addition.

Eric G.: 00:30:00

This is a big one here.

Eric G.: 00:30:02

We're going to add a 6 by 8 foot bathroom over a crawl space with poured concrete walls.

Eric G.: 00:30:06

We're adding onto the house guys, ceramic tile floor, painted trim, cultured marble vanity top.

Eric G.: 00:30:12

Who does that with molded sink, standard chrome faucets, mirrored medicine cabinet, 30 by 60 white fiberglass tub, shower or ceramic tile surround and single level faucet, white low profile toilet, linen closet, general and spotlighting.

Eric G.: 00:30:26

Really this is just adding a bathroom out the side or the back of the house with builder basic stuff there.

Eric G.: 00:30:34

We're not talking anything, we're talking kind of spec house build, mid range bathroom addition.

Eric G.: 00:30:40

And that gets interesting in its own because that can be very different depending on where you're located.

Eric G.: 00:30:45

But this will be a good average for you.

Eric G.: 00:30:48

All right, what's that number In New York we are talking about a mid range.

Eric G.: 00:30:53

It's 69,230 with one of the lower cost recoups at 30.4%.

Eric G.: 00:31:02

And here in Portland, what are we looking?

Eric G.: 00:31:04

We are looking at 65,376, 80, 43.5% cost recoup.

Eric G.: 00:31:11

That is a tough one unless you were just adding on because you need to.

Eric G.: 00:31:14

And there's a lot of rules with this guys.

Eric G.: 00:31:15

If you are in a neighborhood and a price point where you're at a three bedroom one bath house and everybody around you is selling 3B bedroom, two bath, it could make a lot of sense for you to add this on and that cost recoup could be completely different.

Eric G.: 00:31:31

And if you're trying to sell it in the next few years, it could be something that really helps you get that house sold.

Eric G.: 00:31:38

That's a big one right there.

Eric G.: 00:31:39

These numbers are not going to be gospel on that, but you'll get what I mean by how that's going to work out and how that's going to play out because that can get to be pretty expensive when you're looking at that.

Eric G.: 00:31:51

Now the next one here before we go to break is I want to talk about the upscale bathroom addition that's going to be the same.

Eric G.: 00:31:58

We're going to be adding 100 square foot master bathroom with large ceramic tile floor in floor heating, 42 x 42 Neo angle showers, ceramic tile walls, accent strip recessed shower, caddy, body spray, frameless glass enclosures.

Eric G.: 00:32:11

You're going to have a freestanding soaker tub, high end faucets, really nice own, you know, toilet area with one piece toilet, you know, and you're gonna have custom countertops, stone countertop, two sinks, that kind of thing.

Eric G.: 00:32:24

In New York for that 125,711 with a 30.3% cost recoup and here in my side of the country, we're looking at $111,072 and a 44.8%.

Eric G.: 00:32:41

Whoo, that adds up quick.

Eric G.: 00:32:43

Even more interesting.

Eric G.: 00:32:44

And this is going to be the mid range primary suite, but you're going to be adding a master bedroom and master bathroom onto the place.

Eric G.: 00:32:52

And yeah, I don't do this whole primary suite thing and I get a lot of grief on it from my friends in the real estate world.

Eric G.: 00:33:00

And I think it's kind of funny because about half of the realtors, when I go out and I'm doing my around the house northwest TV show, little inside baseball for you guys here.

Eric G.: 00:33:09

I'll sit there and I'll go, all right, let's head back to the master.

Eric G.: 00:33:12

And they look like it's nails on a chalkboard.

Eric G.: 00:33:14

They're like, what did you just say?

Eric G.: 00:33:16

And I say it again and they smile and go, I like how you roll.

Eric G.: 00:33:20

When we come back, we're going to talk about that upscale master bedroom and master bathroom edition just as soon as around the House returns.

Eric G.: 00:33:27

Don't go anywhere.

Eric G.: 00:34:34

Welcome back to the around the house show, next generation of home improvement.

Eric G.: 00:34:37

Thanks for joining me today.

Eric G.: 00:34:38

I'm Eric G.

Eric G.: 00:34:39

If you want to find out more about us, head to aroundthehouse online.com and of course, we're sponsored by our friends over at Monument Grills to check out the best barbecues under 900 bucks.

Eric G.: 00:34:49

Check them out at monument grills.com well, before we get into the Cost value.

Eric G.: 00:34:54

And talking about that master bedroom addition.

Eric G.: 00:34:56

I wanted to give you a little story from this weekend that was kind of interesting.

Eric G.: 00:35:01

And I'm always out there looking for good outdoor cleaners.

Eric G.: 00:35:05

And, you know, I'll.

Eric G.: 00:35:06

Sometimes we'll take dawn soap, like when I'm trying to clean the deck or the hot tub cover, something like that.

Eric G.: 00:35:12

And it just kind of works okay, but not amazing.

Eric G.: 00:35:16

I actually found something, and I haven't talked to these guys in probably four or five years.

Eric G.: 00:35:21

So this is by no means a sponsored segment, but I went.

Eric G.: 00:35:25

Or.

Eric G.: 00:35:26

This isn't even an ad.

Eric G.: 00:35:27

This is something that I went, hey, this is interesting.

Eric G.: 00:35:30

I went down.

Eric G.: 00:35:30

I was down at Home Depot, and I went, I need to get something to do some cleaning because it was like 50 degrees and sunny, which is pretty rare for us.

Eric G.: 00:35:36

And I'm like, all right.

Eric G.: 00:35:37

I get some of this dirt and grime from the dogs and everything else.

Eric G.: 00:35:40

You know, playing ball.

Eric G.: 00:35:41

Outside just marks up everywhere.

Eric G.: 00:35:43

And when you've got a lot of black house and black things like that around, it shows every bit of dirt.

Eric G.: 00:35:48

I bought the 30 seconds outdoor cleaner ready to spray.

Eric G.: 00:35:52

And it works quickly on, you know, it says 50 plus surfaces.

Eric G.: 00:35:55

You basically spray on and hose off, but takes stains from dirt, mold, mildew, and it's literally just a big hose end sprayer.

Eric G.: 00:36:04

Dang, guys.

Eric G.: 00:36:05

This stuff works.

Eric G.: 00:36:06

Awesome.

Eric G.: 00:36:06

I was shocked.

Eric G.: 00:36:07

They have me sold.

Eric G.: 00:36:09

It works so much better than, like the.

Eric G.: 00:36:11

The Windex cleaner that they.

Eric G.: 00:36:13

That you can get.

Eric G.: 00:36:14

That's the hose end for cleaning outside.

Eric G.: 00:36:17

This stuff, it's got a little bit of kind of a bleach smell to it.

Eric G.: 00:36:22

I don't know how much is in there, but not enough to really get you to, you know, get on your clothes or do anything.

Eric G.: 00:36:29

But it's interesting.

Eric G.: 00:36:30

I mean, it's good stuff.

Eric G.: 00:36:31

Now I'm gonna take a look and see what's in this stuff.

Eric G.: 00:36:33

Cause it's.

Eric G.: 00:36:34

Let's pull the label back here and see what it says.

Eric G.: 00:36:37

But I tell you what, it's good stuff.

Eric G.: 00:36:39

As you hear me, pull it back.

Eric G.: 00:36:40

But yeah, just basically says, leave it on there for three to five minutes.

Eric G.: 00:36:45

Spray it off.

Eric G.: 00:36:46

Read the directions, of course.

Eric G.: 00:36:48

But it is awesome.

Eric G.: 00:36:50

Doesn't really say what's in it, but interesting stuff.

Eric G.: 00:36:54

I'm sure if I dive in deep on the web, I can find it out.

Eric G.: 00:36:57

But take a look at this stuff.

Eric G.: 00:36:58

It worked.

Eric G.: 00:36:59

Awesome.

Eric G.: 00:36:59

Things look cleaner.

Eric G.: 00:37:00

They have in a long time.

Eric G.: 00:37:01

And I didn't even have to get a pressure washer, so pretty cool that way.

Eric G.: 00:37:04

Well, we've been talking about this interesting one here when we went to break, which was, of course, cost versus value inside.

Eric G.: 00:37:12

You know, what's the cost, remodeling, what's the cost of actually sitting there and what's the return on that remodel?

Eric G.: 00:37:19

We were talking upscale primary suite addition.

Eric G.: 00:37:22

We went to break.

Eric G.: 00:37:23

We're going to add a 32 by 20 foot master bedroom suite over a crawl space in floor, heating, soundproofing between additional living area, custom wall finishes, hardware, French doors, large sleeping area, lounge, gas fireplace, stone hearth, custom mantle, custom bookshelves built in storage, millwork, large walk in closet, upscale bathroom with dual shower, freestanding soaker tub, frameless glass enclosure, add a little hospitality center.

Eric G.: 00:37:48

So we're kind of going for the be all end all here and in New York.

Eric G.: 00:37:55

Whoo.

Eric G.: 00:37:55

Body.

Eric G.: 00:37:56

389,800 with one of the lowest ones on the whole thing at a 24.5% return.

Eric G.: 00:38:05

Now the national average is339,513 with a 23.9% return.

Eric G.: 00:38:11

And here in Portland, we're at 372 and 44 bucks at a 29.1% return.

Eric G.: 00:38:20

Man, spendy.

Eric G.: 00:38:23

You would think.

Eric G.: 00:38:24

And this is where I start to look at stuff like this.

Eric G.: 00:38:27

So many people's houses out there are insured for 3, 4, $500,000 for replacement value.

Eric G.: 00:38:35

If you had a house fire, they're telling you to do a master bedroom addition.

Eric G.: 00:38:40

You're paying 389 for that, and you own the land.

Eric G.: 00:38:44

Make sure you've got the right amount of coverage for what you're doing.

Eric G.: 00:38:48

That's a great proof right there.

Eric G.: 00:38:49

And you better be living in that house for a long time.

Eric G.: 00:38:52

Because if you think you're getting that money back when you go sell it, that is hard to capture that back when your return is 24, 25%.

Eric G.: 00:39:02

So 75% of that money's for you.

Eric G.: 00:39:05

25% of that's going back into the house.

Eric G.: 00:39:07

Something to consider.

Eric G.: 00:39:09

Now, the last one on here, which I think is really important, and this is something that we're seeing more and more just due to fuel costs.

Eric G.: 00:39:17

But this is converting from fossil fuel furnace to electric heat pump.

Eric G.: 00:39:21

So this is remove and dispose of an existing natural gas, propane or oil furnace.

Eric G.: 00:39:28

ll electric heat pump to cool: 2000

Eric G.: 00:39:32

Remove existing metal ductwork and grills, Patch drywall, touch up paint, all required electrical wiring to the service panel.

Eric G.: 00:39:40

Ah, so this is a mini split.

Eric G.: 00:39:41

Okay, guys, this is telling us a little bit more.

Eric G.: 00:39:44

This is Basically abandoning the system and putting a mini split in five line sets, five indoor wall units, two 9,000 BTU units, one 6,000 in the bedrooms, two 12,000 in the main living area.

Eric G.: 00:39:56

This is abandoning your old central heat, whether it's propane, natural gas, oil, and going in and doing that in New York, they're saying that is $23,789 at a 65.5% return.

Eric G.: 00:40:14

In here in my area, 19,000.

Eric G.: 00:40:16

So basically 20 grand with a 52.2% return.

Eric G.: 00:40:21

That tells me a few things here.

Eric G.: 00:40:23

One, I'm not changing out my natural gas anytime soon because I put a new one in because I just love that heat.

Eric G.: 00:40:30

Two, I know many of you that are in the northern states are concerned, especially when you get into like Dakotas and, and all of that.

Eric G.: 00:40:36

That gets pretty crazy up there where you start getting past the ability of heat pumps.

Eric G.: 00:40:40

But many of the northern states here can still get away with them.

Eric G.: 00:40:43

I know people that are putting heat pumps in Maine, but you can do that.

Eric G.: 00:40:47

But by the time you do that, man, there's a lot of work right there.

Eric G.: 00:40:53

And I get it.

Eric G.: 00:40:54

If you're on oil, I mean, my little brother, he's on oil, and it's expensive, it's darn expensive.

Eric G.: 00:41:00

Hopefully that goes down.

Eric G.: 00:41:01

But heating oil this time of year in February now is very expensive.

Eric G.: 00:41:07

It's just one of those things.

Eric G.: 00:41:08

But that is a big one when it comes to that.

Eric G.: 00:41:11

I'm pretty, pretty shocked that just for a mini split you're talking that kind of money.

Eric G.: 00:41:17

But you're also not dealing with some stuff here too.

Eric G.: 00:41:20

If you've got a propane tank buried in the yard, they're not removing that.

Eric G.: 00:41:25

If you've got an oil tank, that is the next big can of worms.

Eric G.: 00:41:29

And it's really depending on your state, where you live and what's going on, that can be a massive one.

Eric G.: 00:41:36

If you're lucky.

Eric G.: 00:41:37

You've got a tank down in your, in your basement.

Eric G.: 00:41:40

It's a metal tank up on stands.

Eric G.: 00:41:42

They fill it up from outside and if it leaks, you can see it.

Eric G.: 00:41:46

I'll tell you what, I was living in a house.

Eric G.: 00:41:49

It was a rental house right when I was going through divorce.

Eric G.: 00:41:52

And I was living in this in Lake Forest park, north of Seattle, Washington.

Eric G.: 00:41:58

And when I walked outside, first off, I knew how much oil in the tank.

Eric G.: 00:42:04

When springtime came on, I didn't use that for the entire summer.

Eric G.: 00:42:08

No heat used.

Eric G.: 00:42:09

And then I went back and 25% of that tank was missing oil.

Eric G.: 00:42:14

And I guarantee you nobody was over there trying to rip it off.

Eric G.: 00:42:17

Even though a lot of other stuff got ripped out of that house.

Eric G.: 00:42:20

Crime was crazy, but there wasn't somebody pumping it out of there.

Eric G.: 00:42:23

So I reported that to my landlord and went, hey, we kind of got a problem right here.

Eric G.: 00:42:28

There's some leaks.

Eric G.: 00:42:29

They came in, did some looking around and I ended up having to move out of that place because they had to dig up the entire front yard, dig down, remove the tank, and there was six figures spent easily in the front yard hauling off dirt for hazmat oil filled.

Eric G.: 00:42:50

I mean, there were thousands of gallons of heating oil that had been dropped down into the soil right there because the renters really didn't care, didn't pay attention to like you would a homeowner over the years.

Eric G.: 00:43:00

And so it's just something that was kind of neglected.

Eric G.: 00:43:03

And it's really good to keep track of those underground oil tanks.

Eric G.: 00:43:08

And quite frankly, there's a lot of states out there that'll either help you do it or they'll help you manage it.

Eric G.: 00:43:14

But here, boy, I tell you what, they, it is like cleaning up a gas station sometimes.

Eric G.: 00:43:18

There is a big project and I had to move out of the house and we, we called it a day at that location.

Eric G.: 00:43:24

It was a beautiful place, Haunted too, which is a whole other story.

Eric G.: 00:43:28

But my kids told me story about that that they didn't tell me when we were living there.

Eric G.: 00:43:31

But long story short, that had an oil smell that you could smell outside towards the end.

Eric G.: 00:43:37

And I'm like, okay, if I can smell that outside when I walk out to get in the car, that was an insane one.

Eric G.: 00:43:42

That was a big, expensive cleanup.

Eric G.: 00:43:45

None of those things are covered.

Eric G.: 00:43:47

Now, there's a lot of states that regulate this.

Eric G.: 00:43:49

There's ones that aren't.

Eric G.: 00:43:51

And those are all things to really pay attention to.

Eric G.: 00:43:55

Now, if you're listening here on the radio and they only carry the first hour of the show, make sure you catch the podcast because in our next hour of the show, we are going to be talking about all these exterior renovations and what the cost versus value is.

Eric G.: 00:44:10

If you're thinking about really investing in some places, there are some amazing returns on some of these projects that you'd be smart to do because it puts that value right smack dab into your house and that makes for exciting times when you can put a little bit of money in and really gain that back in your house value.

Eric G.: 00:44:29

We're going to be talking about entry doors, we're going to be talking about garage doors, deck additions, roofing, windows, siding, siding replacement, whether it's vinyl or fiber cement, manufactured stone veneer.

Eric G.: 00:44:41

We got a lot of stuff we're going to be talking about here in the next hour.

Eric G.: 00:44:44

If you want to find out more about us here or comment on these numbers, head to around the House online.

Eric G.: 00:44:49

Com.

Eric G.: 00:44:50

Make sure you're following me on YouTube.

Eric G.: 00:44:52

TikTok.

Eric G.: 00:44:53

We've got a lot of different stuff.

Eric G.: 00:44:54

You can find all those things over at around the house online.com and Facebook and our Facebook group, which is around the House Nation.

Eric G.: 00:45:01

And that is a fun group over there.

Eric G.: 00:45:03

You can share up stuff, funny stuff.

Eric G.: 00:45:05

All right, everybody, this is the wrap of hour one.

Eric G.: 00:45:08

Thanks for tuning into around the House.

Eric G.: 00:45:10

We'll see you soon.