Browse Forums Renovation + Home Improvement 1 Aug 28, 2013 4:09 pm People renovate their homes for two reasons: to make the home easier to sell or to improve their own comfort. In either case, it’s a good idea to get an appraiser’s idea of what the projected impact of the renovation will be on the home value. The home’s final value can influence insurance premiums and mortgage payments. If the point of the remodel is to increase the home’s value, an appraiser can help you figure out how much of what you spend will be recouped when you sell. Understanding investment and return For example, if you decide to spend $1000 on replacing your siding and it only gives you a $500 increase on your home’s overall value, your return is 50 percent on your investment. However, updated siding might also have a psychological effect on home buyers as it could improve curb appeal and get more people in the door in the first place. In that case, the return on the value might not be strictly monetary, but definitely worth while in the long run. All bets are off, however, during a housing boom or slump. Despite your best or worst efforts, your house price can fluctuate depending on the state of the economy, regardless of what improvements you make to your home. Prioritize projects Prioritizing your most important projects is another important aspect to consider. Updating kitchen countertops or repainting the living room might both be good ideas, but if your roof leaks it should take precedence over any cosmetic change you could make. Sal Alfano, editorial director of Remodeling magazine, said replacing your front door is one very cost effective decision, though it won’t likely be the first thing you think of. “Replacing the front entry with a 20-gauge steel door is the upgrade homeowners can expect to recoup the most money,” he said. The magazine estimated you could get an 85.6 percent recoup on that investment. Invest in expert opinion Home appraisers don’t come free, with fees ranging from $500 to $1000, but their advice can be priceless. Some real estate agents are also appraisers, however, and they may offer the service free of charge as long as you give them your business when you sell. Interior Decorating and Remodeling News Brought to You by http://BaseBoardRadiatorCover.com Source: http://www.sltrib.com/sltrib/money/56743696-79/cost-says-upgrade-value.html.csp?page=2 As a tradesmen get a private inspector although I don't think there worth it in their profession themselves the reminder they serve to the tradesmen doing the work is… 3 27652 They make the room much easier to clean for one, reflect more light (if light colour tiles are used), and you dont end up with dust on the top edge of tiles (cause most… 3 9845 The last home I lived in didn't have a pool and when i went to sell it the agents were not happy, even telling me to put one in to sell the place. The agents weren't happy… 2 4497 |