Quality Remodeling Increases Home Value

While there are many reasons why people remodel, the bottom line is that remodeling makes your home more enjoyable to live in. The intangible value of this added pleasure must be considered, along with any resale value you hope to gain.

There is no doubt that a substantial and well thought out remodeling project will the value of your home, and therefore the sale price of your home, depending on various factors. The rule of thumb is that any remodeling project which brings your home up to the level of others in the neighborhood is a worthy investment. For example if your home has just one bathroom, adding a second bathroom will most assuredly add substantial value when you sell your home, since the average home has 2 and a half baths.

The same is true for a minor kitchen remodel, where you add new appliances, new countertops, and tile backsplash and incorporate some of the trendy materials. Not only will these types of projects raise your home’s value but they could be the difference between you selling and not selling your home.

Potential buyers can and will in most cases compare your home to the ones that are newly built and what they have seen in decorating magazines.  When planning a remodeling project you’ll want to look at current design trends and amenities being built into new homes. Master bedroom suites, home theatres rooms, office space, multi–use rooms and improved use of natural light are four trends often found in newly built homes.

Something else to consider is the quality of craftsmanship. In previous times home prices were rising so quickly that even medium quality could and did raise a home’s value. That is not the case anymore, as the economy has bottomed out, buyers are better informed than ever before and as such they are demanding a higher quality of professionalism and quality.

Each year Remodeling magazine conducts an annual “Cost vs. Value” report. In their most recent survey  Realtors in major cities rated popular remodeling projects and estimated what percentage of the cost would be recouped if the project was done by a professional and quality orientated remodeler on a mid priced home in an established neighborhood and the home was sold within one year of the project’s completion. Take a look at the survey and their conclusions at http://remodelingmagazine.com  look for the cost vs. value survey.

As with so many things in life, quality counts, and yes you pay for it, but the continuing cost of repairing and maintaining sub standard quality work  continually drains your pocket book and will make you wonder why you ever undertook the project in the first place.

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