Home remodeling is a major investment. When deciding to remodel your home, it’s important to do some research and understand the financial implications of your decisions. It’s not just about the cost of remodeling your home, but also what you can potentially gain in terms of increased value. Over the course of a few years, remodeling a home can have an investable impact on its value. Homeowners who decide to undertake this will often find that their investment has paid off. If you are ready to take the plunge and renovate your home, consider contacting an experienced contractor to talk about your renovation options and costs.
Will remodeling my home raise its value?
Home remodeling is a great way to make an initial investment in your home, which can help it maintain its value or even increase its value. The process of remodeling a house can be expensive and time-consuming, but the benefits of doing so can be worth it in the long run. The impact of reinvigorating a property with fresh paint, new fixtures and fixtures, new appliances and more can increase value because homeowners will find that their home’s current market price is now more than what they paid for it. Even with smaller projects like updating the kitchen or plumbing system, homeowners will gain more value from their investments in remodeling their homes. It can improve your home by the following ways;
1. Eliminate Health Risks
Remodeling a home such as by replacing old wiring is the first step to eliminating the health risks of living in a home that is not up to code. Electrical fires are common because homes have been built before electrical codes were in place, and wiring was put in haphazardly with dangerous results. While taking apart old electrical systems may seem frightening, having them professionally inspected will ensure that the risk of fire or electrocution is eliminated. This is one investment that will likely pay off when you put your house on the market.
2. Increase Your Home’s Energy Efficiency
There are many ways to improve the energy efficiency of your home. Hiring a professional to install new windows, add insulation or upgrade your home’s heating and cooling system can make it more appealing to potential buyers, and help you get a better price when you put it on the market. Once again, going with qualified professionals will give you peace of mind that the job is done properly and that you are getting your money’s worth from your investment in the remodeling process. Take into consideration the changing energy requirements in houses during summer and winter seasons for best results.
3. Increase Your Home’s Curb Appeal
You may not think that you can increase your home’s curb appeal, but there are many ways to do so with a simple home remodeling project. Installing new landscaping outside of your house can help it look more beautiful and appealing to buyers. Remodeling your front porch or installing new siding can also have a positive impact on the value of the house. While these changes may not be big enough to make a noticeable impact on potential buyers, they will ensure that you feel proud of the way that your property looks when potential buyers visit.
4. Increase Your Home’s Natural Light
Natural light is a major selling feature when you are trying to sell your home. Adding more windows to let more sunlight in can help brighten up the home and make it feel more spacious. It can also make a big difference in the ambiance of the house and make it feel more welcoming to visitors. This can help make your home appear more valuable because buyers love homes that are naturally bright and airy.
5. Update Your Exterior Appearance
The exterior of your home may need some work as well, such as painting or adding some new landscaping features, like installing new window boxes or a fountain near the front door of your house. Home buyers tend to evaluate the curb appeal of a house and make their decision based on their first impressions of the property, so you want to ensure that it looks its best.
6. Showcase Your Home’s Unique Features
Another way you can increase your home’s value is by making sure that potential buyers are aware of your home’s unique features. If you have repainted the inside or outside of your home in a vibrant color, you may want to consider putting that information in your listing so potential buyers know what they are getting into before they even arrive at your house for a viewing.
To choose remodeling contractor you should consider following tips:
When choosing remodeling contractor, you should start with research. Find out contractors who are best in your area by searching in your local yellow pages or by visiting website of home improvement stores such as Home Depot, Lowe’s and Menards. Also you can try to find contractors on the internet using search engines like Google. To find competent local contractors is not so difficult nowadays, but it will save you much money and a lot of time if you start the search right away after you’ve decided that it is time to remodel your home.
2. Research Remodeling Contractor’s References
You should ask for contractor’s references and make sure that they are real and verifiable. Ask for contractors who can list at least five previous clients from whom he did similar projects. Also you can contact your local building department to verify contractor’s license before you decide to use his services.
3. Ask for financial statements
It is very important that you ask for financial statements before signing a contract or an estimate, even if it is a small job. You need to know all the costs and fees associated with the job if it will affect your budgeting or if there are additional expenses you hadn’t considered previously. Always compare estimates to check which of them better suits your goals and needs.
4. Ask for Original Estimates
Original estimates are better than estimates delivered after you’ve started the job. Old estimates that were prepared without knowing the exact scope of the job are not an accurate reflection of the final cost. Make sure you ask for original estimates and compare them with those given after your project begins. If they turn out to be different, there’s a good chance that you’ll find some hidden fees and unexpected costs which may affect your budgeting if you decide to proceed with the remodeling. You need to estimate everything that you can.
5. Request in-person inspections
Before you hire remodeling contractor, visit the property yourself. If there is more than one contractor working on the job, ask for a list of their names and addresses. Ensure that you have better knowledge about your contractor by checking reviews other homeowners have made about them. Also you should ask for references from current customers.
6. Get written estimates in writing
In order to reduce any misunderstanding and possible disagreements, make sure that all estimates are delivered on quotes or letters signed by contractor and dated. You don’t want to make mistakes and spend unnecessary money on something that turned out to be not necessary after all. Make sure all terms are spelled out clearly in written estimates.
In conclusions, remodeling your house is one of the most exciting and profitable home improvement projects. It can also be the most challenging and time-consuming remodeling project when you take into consideration that it takes time to carry out the project correctly. It’s easiest to choose remodeling contractor with experience working with similar customers and references, but if you are in hurry, you can always do some research first.