One of the realities of the Manhattan real estate market is that it is constantly more expensive to live in the city. In spited of occasional market dips and soft spots, it is a certainty that the cost per square foot of living space will continue to escalate. Those increases are a major reason home & apartment remodeling in Manhattan is such a popular choice for adding more living space. While any remodeling project can be a hassle and cause a lot of turmoil, the benefits are usually well worth the effort.
Of course, Manhattan is not always the easiest place to get any construction accomplished, much less a major remodeling project. The task involves a series of permissions and permits, including the co-op board or landlord, as well as drawing up detailed plans and engineering drawings. Depending on the scope of the undertaking, it may even be necessary to move out of the apartment and find temporary residence elsewhere. However, many people avoid this added trouble and expense by breaking their projects down into a series of smaller steps. For example, a kitchen remodel can be completed and then the bathroom dealt with later.
However, if the homeowner or tenant visualizes a fairly major total renovation, it is wise to sit with a professional contractor before the first item is torn out or nail driven. Properly planning the sequence of events and what work is desired can save a great deal of money and time over the long haul. For example, if a new dishwasher is added now, and a new shower is anticipated later, the contractor might recommend starting with a new, energy-efficient tankless water heating system, and the location will be a factor in such a choice. Additionally, if a plumber is used more efficiently and an extra trip is saved, the savings will compound on saved upfront costs as well as potential later redos.
For many considering different remodeling tasks, the total costs and ultimate payback are major factors. While it is seldom a remodeling project will add 100 percent of its cost to the resale value of a home, careful consideration of the various details will increase those percentages. Additionally, making the right contemporary upgrades will make a unit more attractive if and when it comes on the market, making it easier to attract interested buyers.
Ultimately, the remodeling decision is a balance between added convenience and enjoyment with both short-term costs and long-term value.