Jill Fitzgerald Home Remodel April 16th, 2019 - 01:45:28
But remodeling has another, equally important advantage - it increases the value of your home. Whether you plan to move out soon or stay put for a good long time, it's worthwhile to consider what influence the remodeling job you are planning will have on the value of your home.
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People often refer to home remodeling as one of the best investments you can make. It's a great way to update your home and keep up with growing trends or a growing family. The best part is, you usually get most of it back when you sell your home. The kitchen and the bathroom were always the shining example of this. But in 2010-2011 the trend for remodeling projects with the highest Return On Investment (ROI) have shifted from larger home remodels, to smaller home improvement projects. These projects include new exterior paint, window and door replacement, or garage replacements.
A common mistake among homeowners is to improve their house more than that of the neighborhood it is located in. While the more improved house might possibly receive more interest than others in the area marketed it is unlikely to command a premium well above the average selling price of homes in the neighborhood. A little known fact is that market price is held in check by the lowest-priced homes in your neighborhood and not the other way around.
Home remodeling should be a step by step approach where every part is pre-decided by the contractors. The most essential parts of home remodeling is the restructuring and the planning. If you want to make changes in the structure of your house then the process is cumbersome and expensive. Normal repair and remodeling are two completely different schemes. Remodeling will include redesigning and refurnishing of the interiors of your house.
Either way, if you want to make your money back upon sale, do not remodel to make your house the most expensive in the neighborhood. Although this will certainly attract people to the house, not many will be willing to pay the price. If someone is willing to pay more than what the majority of the houses in the neighborhood are worth, chances are they will just look for a home in a different, more expensive area.