Everyone wants to improve the look of their home. Whether you're looking to sell or you just want to spruce it up, if you' re thinking about remodeling, According to Angie Hicks with Angie’s List the first thing you should do is access your home and your neighbors.
"When it comes down to it you don't want to over invest. You don't want the most expensive house on the block. So, know what your neighbors have and also know how long you're going to live in the house because that's going to determine whether you get a good return."
If you plan on moving in the next few years keep it simple.
"You want to think about improving cosmetic things that improve curb appeal, fix leaky faucets, and fix the little things because keep in mind when people are thinking about buying a house they are looking for reasons to rule it out. little things might make them start thinking about big things that could be wrong,” says Hicks.
Real estate agent Kristie Smith says, the kitchen is where it's at if you want the best return on your remodeling investment.
"If you're thinking about doing any kind of financial investment in your home the kitchen is where you get the biggest return, over 75 percent of your investment is returned dollar for dollar when you sell. so things like stainless steel appliances, double ovens for cooking, granite countertops, hardwood floors, and updated cabinetry and hardware are very important."
When remodeling some of the best projects to invest in involve converting existing space...such as turning an attic into a bedroom or adding a deck.
If a remodel is one of your planned projects, ask yourself these questions before you get started:
• Is the remodeling project to get your home ready to sell or improve your family’s living space? If it’s to improve the living space for your family, and you’re planning to stay in the house for several more years, it’s probably worth spending a little to achieve what you want.
• Are you planning to sell soon? If you’re planning to move within the next few months or year, big-dollar projects may not be a good idea. You stand less a chance of recouping your investment. You’re better off focusing on smaller things that get your home ready to sell, like a fresh coat of paint.
• What is the typical resale price of homes in your neighborhood? Return depends on what’s typical for your neighborhood. With a little research, you can see what the average sale price is for homes in your area and determine what your “ceiling” is for investment.
• What features do typical homes in your neighborhood offer? If your home only has one bathroom, but all your neighbors have two, adding a second bath may be a good idea.
• How much can you afford to spend? This again speaks to the personal nature of the decision, and is impacted by whether you’re planning to sell or stay in the house. If you’re planning to stay for a while, you may consider breaking the project into phases so you can spread the cost out over a few years.
