68 KIPLINGER’S PERSONAL FINANCE^ 05/2019LIVINGnational average cost for a minor kitchen
remodel is $22,507, $66,196 for a major
remodel and $131,510 for an upscale
project. The average cost for a bath-
room remodel is $33,374 for a midrange
project that includes design features to
fit any age; it’s $64,743 for an upscale
remodel.
If you want to add a first-f loor
master bedroom, the national average
cost is $130,986 for a midrange job and
$271,470 for an upscale one. (You can
see detailed descriptions of 22 projects
and costs by region at http://www.remodelingHOW WILL YOU PAY FOR IT?
For more costly projects, you could
take out a home-equity line of credit,
from which you could borrow money
as you need it. Or, if you or your spouse
is at least age 62 and you have consider-
able equity built up in your home, you
could take out a reverse mortgage with
an up-front lump-sum payout or a line
of credit. With a reverse mortgage, you
must use some of the proceeds to pay off
any remaining mortgage balance, but
you’ll never have to make another
monthly mortgage or loan payment..hw.net/cost-vs-value/2019.)
However, if you want to widen a
bathroom door (bathroom and closet
doors are often narrower and less ac-
cessible than other doors), put in grab
bars and add a curbless shower, that
would typically cost about $11,800 to
$14,000 (prices vary by region).
If you’re adding on to your home or
building a multistory house, you could
prepare for an elevator by stacking
6-foot-square closets. That way, when
you’re ready, the contractor can just
remove the f loor between the closets.1
23LIVING