The dismal economic outlook has wary consumers passing on restaurants and theater events and keeping a watchful eye on their dollars. But when it comes to the “heart” of the home, spending on kitchen makeovers may have slowed but certainly has not stopped.
“The three things people care most about when they look at a house (are) the kitchen, the master bath and the master bedroom closet space,” said Angelo Ferranti, president of Hudson Valley Remodelers in New Hampton. “Women definitely influence the purchase, and these are the top three items on the wish list.”
With that in mind, Ferrante, co-owner of the remodeling company whose offices have been on 17M for the past nine years, decided to add a kitchen showroom to the main floor. The idea, he said, was to give customers something to touch and feel, rather than just looking at computer-generated models.
“We think it”™s an asset for our customers to be able to have a physical experience when they are redoing their kitchen or bath, or putting one in a new home,” he said.
“Kitchens are a good return on investment, no matter what the market is doing. For every dollar you invest in a kitchen, you can expect to recoup at least 90 cents on it. It is definitely the gathering place for the family, and as more people entertain at home, the kitchen needs not just to be functional but ”¦ even more pleasurable.”
Ferrante”™s partner, Chris Memmelaar, said a kitchen renovation is a homeowner”™s number-one priority, followed by a bathroom renovation. “These types of renovations can be simple or extravagant, but they are a good investment,” he said. “People are going out less and enjoying their homes more. Many are deciding to skip that vacation or may wait another year to buy a new car and spend money on their homes ”¦ That”™s where we come in. We liked the idea of including a showroom and moving all our administrative offices upstairs because it gives people the ability to see a finished product.”
The owners agree that even if people don”™t seek them out to do their kitchen makeover, a qualified designer is a must. “Some do-it-yourselfers don”™t know all the ins and outs of redoing a kitchen or bath,” said Memmelaar.
“For example, if they are going to do a complete renovation, moving (an) appliance from one spot to another, the contractor has to be sure that it”™s possible ”“ Is the water line close enough? How much more will it cost to bring the line to where the customer wants to move the sink, or is it even possible to do it?
“I had one customer who had three different estimators come in and measure and price her kitchen,” Memmelaar continued, “but none of them had taken into account that the counter she wanted to add would have been higher than the window frame. So people who are going to invest in a kitchen or bath need someone who knows what they are doing.”
Hudson Valley Remodelers made the top 500 list in 2008 in Qualified Remodeler Magazine, a recognition of which both owners are very proud.
“People can buy a kitchen out of a box and there”™s nothing wrong with that,” said Memmelaar. “But if (you) are going to make a major investment in your home, you want it done right the first time. A complete kitchen makeover typically runs between $25,000 and $40,000. When you are spending that kind of money, make sure you”™re happy with the end result.”
Ferrante, who will become Hudson Valley Builders Association”™s president this year, said he”™s looking forward to improved conditions in both the housing market and construction trades.
“We”™re working on a purchase plan at a low interest rate to help people access the funds they need to make the improvements they want,” he said. “The market is tough right now ”“ we are pretty confident we”™ll get through it ”“ but there are many who won”™t. Many contractors have gone into remodeling to survive, but they”™d like to get back to business … let”™s hope the economy and the stimulus package Congress is proposing is going to jumpstart the housing market and open up money for people to start borrowing again.”
