Home improvement projects often begin with someone saying, “Wouldn’t it be nice if…?” Usually followed by a wish to get a remodelled kitchen or additional space to accommodate every family member’s needs.
More often than not, dreams and reality do not coincide, due to limited funds for realizing the idea, or limits on the available space. The trick: turning your dreams into reality. Start with a realistic appraisal.
You may feel the need to update something out-of-date. If your kitchen colour scheme was perfect a couple of decades ago but no longer works, now may be a fantastic time to update it.
Some home improvement projects grow from an immediate need to replace faulty or broken fixtures. If a sink, tub, or bathroom has to be replaced, consider using this chance to perform a makeover on the entire bathroom.
If you are preparing to sell your house, you’ll want to make sure to get top dollar from the sale. That’s an excellent motivation for a few home improvement projects – a great letting agents can give you tips on this.
Perhaps you’ve decided that staying put and improving your home is a better option than moving?
Your family has grown, and you need more room.
Improving to Move? Or Enhancing to Stay?
Evaluate your plans carefully if you are improving your home to set it for sale. Cutting corners may hurt your prospects rather than helping them. But do not go overboard either. Potential customers may prefer to not pay for some of the extras, like a spa or pool. You are better off keeping the changes easy.
And remember that buyers who see your home may not share your preferences and might not appreciate the care you took to find just the right shade of green paint for the walls.
You’ll find that improving to sell is easier if you can think about it from the potential purchaser’s standpoint: What is essential to the home buyer?
Here Are Some remodelling projects buyers are likely to find valuable:
- Adding or remodelling a bath
- Improving the kitchen
- Adding a new room
- Adding a bedroom
- Adding or surrounding a garage
If you’re remodelling because you want to remain in your home, you still need to avoid over-improving it. You’ll probably need to sell it one day, and even if your home is the best on the block, it could be difficult to convince potential buyers to pay for the things you considered necessary. And when you consider making improvements, bear in mind the value of other homes in the region. Your home’s value should not be more than 20% above the average, meaning that a $10,000 kitchen improvement job well could be a better investment than a $10,000 spa, especially if yours are the only home in the area with a hot tub.
Home Maintenance versus Home Improvements
Unfortunately, some home improvement projects are undertaken because something has broken. Replacing a leaky bathtub might be the first step to a significant bath remodelling: since the tub has to be replaced anyway, why not do the whole room?
While this might be a legitimate reason to remodel, avoid basing your home improvement projects on immediate needs. You will be better off if you minimize issues with proper maintenance. Examine every part of your home at least once a year. Check the roof, plumbing, electrical wiring, etc… Whenever become aware of a problem, fix it. Making repairs when you are first aware of them will help you avoid more significant expenses later on. Bear in mind that maintenance doesn’t increase the value of your home. Usually, repairs aren’t improvements; they’re necessities.
Disclosure: This is a featured post.