Do you want to remodel your home because you are looking to sell it soon? There are some smart remodel projects that will bring alot of bang for your buck and there are some remodel projects that may sound like a good idea, but won't bring a good return on your investment.
Do:
Remodel the bathroom. No costly, overdone bathroom remodel is necessary. Change out old brass hardware for newer, updated brushed nickel ones. Give a fresh coat of paint to the walls. Replace old lighting fixtures. Take out the tub and add a tiled-in shower with glass enclosure. Buy a new pedestal sink and toilet to open up the bathroom.
Replace the exterior siding. It's like putting a new outfit on your home. Vinyl siding is the most popular and inexpensive method for exterior siding. However, fiber cement siding can be made to look like stucco, wood or even cedar shingles. It is also fire resistent and can offer up to a 50-year guarantee. It will cost about 30% more than vinyl, but will yield a much bigger return on your investment and offers more alternative looks than simple vinyl siding.
Update your kitchen. You don't have to overspend in order to bring your kitchen into the 20th century. Replacing the old dishwasher, refrigerator and stove/oven with moderately priced stainless steel appliances can go a long way. Changing out the old cabinet knobs or drawer handles can alter the look of the cabinets. Rip up the old linoleum and replace it will newer, resilient flooring. A fresh coat of paint will do wonders to brighten up the space.
Think about converting that attic space into another bedroom and bath area. This is an especially good idea in a neighborhood with smaller homes. Because the wiring and walls are already there, it is less expensive to create a new bedroom in the attic than to add additional square footage anywhere else.
Don't:
Convert a spare bedroom into a fully custom office. Adding custom cabinetry and tearing out a closet to create room for your filing cabinets is great for those who work from home. However, when reselling a home, an extra bedroom will always outsell a custom home office. Utilizing the bedroom space as a home office by buying office furniture is fine. But make sure not to alter the room so that it can't be used as a regular bedroom when you sell it.
Overspend in the kitchen or master suite. While it is true that kitchens and master bedrooms sell homes, you don't want to spend so much on these areas that you are way out of league with the rest of the neighborhood. An $80,000 dollar dream kitchen or $100,000 deluxe master suite may sell well in Beverly Hills or New York City. But, if you don't live in an upscale neighborhood, the sales price of the home will not support this kind of an expenditure.
Construct an addition to the house for a nice family room. With exterior siding, extra wiring, patio doors and flooring, adding extra square footage to a home can easily cost you $50,000 for a reasonably sized room. Using that money to convert a basement into a game room or making the attic space into another bedroom and bathroom is a much better use of the money.
Remember that it is a smart idea to invest money into your home. Just make sure that you are smart about what part of the home you spend your dollars on.
Comments(0)