Remodels With High ROI

Remodels with High Return on InvestmentsIt’s the question facing every homeowner considering home renovations or remodels: What will my return on investment be if I sell my house? There isn’t a definite answer, it depends on many different factors. But despite the murky waters, it’s important to have an idea of what your improvements might be worth. According to a report by the Joint Center For Housing Studies of Harvard University “Spending on home improvements is projected to strengthen in the majority of the nation’s largest metro areas in 2017, with many markets in the East and Midwest expected to post double-digit annual growth.” This means many American homeowners will be asking themselves this very question.

Remodels that ReturnRemodels that Return

Visit a few open houses, watch any home buying show on TV, what’s the thing that has every potential buyer oohing and aahing? Kitchens and baths. The majority of buyers want a house that doesn’t require a bunch of costly face-lifts right away. So these buyers are looking for a house that doesn’t need any kitchen or bath renovations. While these remodels can be costly, they’re more likely to have a higher return on investment.

If you’re looking to sell in the near future, shy away from installing pools and home offices, because a lot of buyers aren’t willing to pay more for a house that comes with “useless rooms” and “extra maintenance”. And just because a project is expensive does not mean it will pay back more. Minor improvements will return more than a full redesign. Think face-lift – painting, refinishing surfaces, and upgrading appliances.

Bathroom Face LiftLasting Style

Keep in mind that you could potentially sell someday, so try to opt for styles that last. “You might want a room in your house in the shape of a cat or a mouse, but can you find a buyer who wants it?” says Gopal Ahluwalia, director of research at the National Association of Home Builders. If you’re living in a midcentury modern and want to add on a family-room addition, keep the design in harmony with the original building. Same ceiling heights and window styles will keep the integrity of the house. The same is true of small projects, too. When choosing new tile for your kitchen backsplash, aim for common or neutral colors and styles. Don’t expect someone else to dish out for your distinctive and particular choices.

Neighborhood ROINosy Neighbors

You have to consider your neighborhood when remodeling. Don’t expect a high return if you’re neighborhood doesn’t have similar upgrades. You never want to be the most expensive house on the block. Do your research with the surrounding homes of similar square footage and room counts. If there’s an open house in your neighborhood, go check it out, see what improvements they have made (or haven’t) and look at what they’re selling for. This will give you a good idea on what remodeling projects will give you a return in your area.

Remodel Your Kitchen – Checklist and Tips to get Prepared

Contemporary KitchenRemodeling your kitchen can create feelings of both excitement and overwhelm. Careful planning before embarking on your kitchen remodel can not only save time, money, and frustration down the road but also allow you to enjoy the process every step of the way.

Linda Eberhardt, President and Owner of Create Distinctive Home Remodeling, recommends the following prior to starting your kitchen remodel.

 

1. Do your homework when it comes to finding a reliable remodeler or design firm. Choosing the right company to work with is probably the most important decision you will make. Not only in terms of the end result of the project, but the process that you experience getting there. Some things to consider when choosing a remodeler: Are they a member of the Better Business Bureau or Houzz and what are their ratings, how many projects like yours have they completed, do they use their own craftsmen or do they use subcontractors, can they provide you with references of others who have worked with them?

2. Determine the best type of company for you. When it comes to kitchen remodeling there are many different choices in terms of the type of company to work with. You can choose a kitchen showroom, big box store, general contractor, electrician and plumber, or design/build firm. While any one of them may work for you, it’s important to weigh all of your options and based on your particular needs, go the direction that is best suited to you and your project.

Modern Kitchen3. Consider your budget range. Kitchen remodels come in many shapes and sizes and the possibilities are almost endless. It’s important that you think about what budget you are comfortable with and work with options accordingly. This will help allow you to prioritize those things that are most important to you in your remodel.

4. Determine big picture goals for the project.Will your kitchen be used primarily as a place for the kids to do their homework? Or will it be a room for entertaining guests? Will there be multiple cooks using the kitchen? Determining the goals for the room will help guide many decisions along the way.

5. Begin thinking about the scope of work. Is your plan to update your kitchen by leaving the floor plan as is? Or are you looking to reconfigure the floor plan within the existing space? Or maybe your plan is to expand into an adjoining room or add new space. There are a lot of options when it comes to scope of work and all kitchen remodels are definitely not equal.