With the housing market in a bit of a slump, homeowners are exploring the benefits of remodeling in order to increase their home’s value and functionality. Furthermore, current research indicates that families are choosing to stay in their homes longer – turning to remodels to adapt their homes to their changing needs. Whether your goal is an increase sale price or prolong your home’s life, a remodeling project may suit your needs perfectly. An older well-maintained, up-to-date home will have a higher value and more longevity for a family, than a comparable home that may be newer but is poorly maintained. As you plan your next remodel project keep these ideas in mind:
- Home maintenance is the most important step you can take to protect your investment. Proper upkeep and maintenance will keep your home running right and protect you from most major surprise catastrophes. The condition your house is in will say more about its value than the amenities included within. Make sure that your maintenance is done properly though – careless work and/or low-grade can diminish any value that your remodeling project might add. If you are not a skilled craftsman, sometimes it will pay off in the long run to hire the job out.
- Remember that your remodeling project should reflect you and your family – do not try to remodel for the tastes of the next owner. Too often homeowners get caught thinking, “I like it, but I don’t know that a buyer will.” Since you don’t know who the next owners will be, its near impossible to predict what their likes and dislikes will be. Remodel so that you are happy in your home for the time that you will be there. Do not go too wild though; the more your home’s style strays from the norm of your neighborhood, the harder it will be to get the maximum return on your improvements. Try to find a compromise between your distinct taste and the styles, colors and features that have broad appeal in your area.
- Two of the most popular projects are the kitchen and bathroom remodels. As two of the rooms in a house that are used most often these rooms carry the most weight when it does come time to sell your house. Attractive, functional, and up-to-date kitchens and baths outfitted with popular features will help to increase your home’s value as well as help it sell faster.
- Remodels that open floor plans and add extra space in the right places provide a high return on investment. Multipurpose family rooms, larger master bedroom suites, walk-in closets, and eat-in kitchens are all examples of spaces that buyers value highly and are willing to pay extra for.