9 Golden Tips For Remodeling Your Home
Home ownership has always been a big part of the American Dream, and there are ways to maximize both the comfort and value of your home. Sometimes deciding whether to fix up, leave as is, or sell is a tough call, but one which greatly affects your happiness and financial health. This article explains the nine golden tips for remodeling your home.
Why and When to Remodel
If you’ve been seriously thinking about a remodeling project for your house, 2018 and 2019 are good years to do it. Consumer confidence is high, incomes are growing, the economy is strong, and interest rates are still low for home equity loans.
Not sure if you should sell and buy another property or remodel your existing house? Consider that housing prices have increased significantly over the past few years in most areas of the country. Buying new may bring an unexpected financial burden, as opposed to remodeling your current house to meet your wants and needs.
Waiting to renovate will likely cost more. The shortage of skilled construction workers only drives up their wages, so remodeling companies will have to pay more to keep them. This means the sooner you start your project, the better the costs. Fred Ulreich, CEO of NARI, said in 2018 that labor costs will continue to escalate.
Best Investments For Remodeling
If you’re interested in your remodeling project’s becoming a wise investment, you should know which improvements are mostly likely to yield a good return on investment. The best one can change from year to year, but the top nine or ten are virtually the same each year.
In 2018, attic insulation scored highest on potential for ROI (return on investment). The ability to lower energy costs because of quality attic insulation is attractive to most homeowners and home buyers.
New front door and garage door bode very well for the market price of your home. The reasons are the enhanced curb appeal and smooth function, of course.
Attractive landscaping ranks high as a profitable investment. Not many people want an ugly yard. Thoughtful landscaping not only improves curb appeal, but also provides efficient water run-off, recreation, and entertaining value.
Kitchen and bathroom improvements are always recommended to boost resale values, and they don’t have to be complete remodeling. New countertops, flooring, upgrading cabinets, or new appliances will usually do the trick. If you want to replace appliances, remember to look at the high-efficiency ones. That’s a good selling feature to prospective buyers.
A nice, new paint job is always good, unless you insist on hunter orange or royal purple. Like any home remodeling project, beware of applying too much of your personal tastes. Keep in mind the general population, and use nice, soft, light colors for walls and ceilings.
New windows make a smart investment because they make the home more attractive and energy efficient. Sometimes new windows will reduce heating and cooling costs by up to 50%. If the house is large, that’s a significant amount of money.