Interested in remodeling to improve your property’s value? Make the right choices and you just might end up getting great returns. Cha-ching!
Not surprisingly, the most efficient ways to improve your home’s value are revamping the kitchen and bathrooms. The kitchen is considered the most important room of the house to have in good condition, followed closely by bathrooms. However, if you plan on redoing your kitchen, proceed with caution. Over-doing it can actually give you a lower return if you don’t improve the rest of the house to match it.
If one area is outshining the rest of the house by a long shot, you risk having your remodeling work being dragged down…as well as having a mismatched home.
Now that your kitchen and bathrooms are pretty, what other remodels should be taken into consideration? Well, according to Remodeling Magazine’s 2015 Cost vs. Value Report, a few remodeling projects you can expect high returns from are replacing your garage door, adding a wood deck, manufactured stone veneers, and adding a steel front entry door.
What about adding something strange or unique to your home, like a hidden library or sunken den? Thinking outside of the box can definitely pay off if you can find the right buyer. The problem is, though, it most likely won’t net you the kind of cash that you paid for it. Often we think to remodel just before moving, but sometimes it’s a better payoff for you to personally enjoy your efforts before moving on to the next residence.
If you’re looking for inspiration, check out these fun, wacky remodeling ideas!
Another awesome money-saving tip is to go green. Certain energy-efficient appliances and features such as doors and windows are your best bet. They will save you money on energy, but also earn you up to 30% tax breaks on specific items! How cool is that?
One last thing to consider when remodeling is that it’s extra important to make sure that you have every step of your journey planned out ahead of time. There’s no avoiding the inevitable delays and cost overruns, but a surefire way to guarantee you’ll waste massive amounts of time and money is to go into your project without first mapping it out. There are plenty of resources to help you along the way – check out nari.org’s remodeling tips for a complete checklist of what you can expect during your remodel.
Lyon Stahl Investment Real Estate, Inc. 