Crested Butte Home Remodeling Costs

I have a number of clients who have asked me about Crested Butte Home Remodeling Costs. As well some of my clients have recently finished, or are in the process of remodeling their Crested Butte homes. My wife Francene and I are also in the process of remodeling our master bathroom, and another full bath that is on the main living area – stay tuned…

We are seeing newer homes and newly remodeled homes generating more interest from buyers and fetching higher prices than those that require updates.

Given the reduction of inventory of Crested Butte homes, and compared to the 2-3 year time horizon for building a new home – buying and remodeling is an attractive option for many buyers given the costs, and time and effort.

Buy and Remodel Costs and Considerations

There are some great Crested Butte homes that may need updating, but offer the buyer very good value. The buyer will see a much lower price point, they can close on the home, and put their head on a pillow in 45 – 60 days. I generally find that buyers that live in the home for up to a year have a much better understanding of what they would change and the scope of the remodel has different priorities.

One of my clients was going to make their bonus room into an upgraded master bedroom. Then after spending time in the home they realized instead that the large bonus room space would be better utilized as a media room with a separate overflow bunkroom – and they are adding a full bathroom. To address the master suite – they are also moving some walls around and remodeling the master bedroom, master bathroom and expanding the walk-in closet.

So What Does It Cost in the Crested Butte Area?

In a nutshell it costs more than you think. Many people who have second homes here note they can build or remodel for half the cost in their home market compared to Crested Butte. This may be true.New Home Construction Costs – most architects and general contractors are quoting in the $500 – $600+ price per sq. ft. range for building a new home depending on many factors.

Remodel Costs – There are many variables that go into any cost estimates for a remodel and certainly there are unknowns once the project gets started. We had plans drawn up for a kitchen remodel and expansion of our home and based on the design, it was also in the $500 per sq. ft. range.

Kitchen and Bath Crested Butte Home Remodeling Costs

By far the two areas of a home that most people look to update are the Kitchen and Bathrooms. These are high traffic areas and heavily used rooms. We spend lots of time in our kitchens and especially here in Crested Butte with family and friends the kitchen is the place people congregate. The desire to update or make these spaces “better” is a common desire.

Generally, people start with the cabinets, countertops and floors and quickly realize they want to gut the entire space and start over. Total kitchen remodel (gut to the studs) estimates with high-end finishes, design plans, and using competent general contractors in the Crested Butte area generally exceed $100,000+, and full bath remodels with extras like heated floors, steam showers, soaking tubs…etc. you can expect estimates in the $30,000 – $40,000+ range per bathroom.

As a result of Covid, we are all spending more time in our Crested Butte homes, and many people have been taking on home remodel projects to update their living space.

A recent article in REALTOR Magazine reports that eighty-five percent of Americans surveyed said they are spending more time at home since the Covid pandemic, and 63% are noticing more areas in their home that they want to improve as a result. This trend is also consistent here in Crested Butte. The good news is we have a stable of great architects, interior designers, general contractors, sub-contractors and service providers in the Crested Butte area – the bad news, currently they are overwhelmed with new home construction and remodel work.

People are using their Crested Butte Second Homes More as a Result of Covid

• More Use by Family– It is not just the breadwinner who is working remotely from their Crested Butte home. I hear frequently that: “…the kids have decided that since they can also work from anywhere, they are ‘temporarily’ living and working out of the Crested Butte home”.  
• More space needed – People using their Crested Butte homes more, which is causing many to consider they need more space – an extra bedroom (or a new more spacious master bedroom), a bonus room, expanding the outdoor living decks and living areas, and the desire for a larger garage …
• Wear and tear over time – If you have it use or rent it – but the more use results in wear and tear – renters and pets can be rough on a home – especially flooring. Most older homes had carpeting, or low-quality flooring throughout causing many homeowners to consider updating to quality hardwoods, tile and stone.
• More time spent in the home, also means more time noticing problems, or areas to update in the home. We recently replaced our furnace and washer & dryer, have a new refrigerator on order and the water heaters which have a life span of 10 – 15 years are next. Many homeowners are also replacing older oversized bulky furniture.
• More people “working” from the home – Most second homeowners would be spending time vacationing in their home with family and friends. Now more people “working” from the home, the space utilization needs have also changed. We have three daughters and they have friends – when they visit there are many working at the kitchen table – upstairs loft desk, the bonus room has a built-in desk, and the ability to close a door while on a Zoom call is key…
• Crested Butte Home Internet Connectivity – More technology in the home increases the need to high internet speed and reliable connectivity. More computers and devices as well as on demand streaming services for TV (Netflix, Amazon Prime…etc.) means higher dependency on internet. We have high-speed internet with Spectrum and recently upgraded to a modem that supports both 2.4GHz to 5GHz. The 2.4 GHz band provides coverage at a longer range but transmits data at slower speeds. The 5 GHz band provides less coverage but transmits data at faster speeds. Other options inthe Crested Butte area are Century Link, Internet Colorado and Xtream Internet who use line-of-sight microwave.
• Investment in Home and Quality of Life – There are various levels of any remodel project, and remodeling certainly represents an investment in the Crested Butte Home – but also the quality of life by the homeowner. We all know – Crested Butte is a special place and it is “fun to be here in Crested Butte!”
• Lifetime of Memories – After all, your Crested Butte home is the place that we get to spend so many weeks and months per year – and where we get to create our lifetime of memories!

 

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How can I help you?

I have over 30 years of business experience and am a top real estate agent in the mountain town of Crested Butte, Colorado representing affluent clients who are buying and selling their homes and properties. To see featured properties or search the MLS – visit chriskopf.com.

Are You Considering Buying or Selling a Home in the Crested Butte Area?

Chris Kopf
Global Luxury Property Specialist
Coldwell Banker Mountain Properties
Chris.Kopf@CBMP.com
(970) 209-5405