When renovating and remodeling your home you need to consider your family’s needs carefully during this process. Renovating and remodeling should meet all the needs for which it is intended for your family’s lifestyle.
It is also important to check structural aspects of your home such as foundation, framing, roof, and the drainage system. You will need to consider such factors in you design plan before you start your renovating and remodeling.
- Adding a room. Adding a room can be a better investment than buying a larger house. Adding a room can allow the homeowner to maintain a low mortgage rate. An attractive addition designed in the same style as the house can increase its resale value by quite a lot. Generally speaking, 55 to 60 percent of the cost of a room addition can be recaptured in the resale of the house. A room addition is a good investment, provided it does not make the house much larger than other homes in the area. If a house is much larger than those around it, its owner will have a hard time selling it for its true value.
- Kitchen Remodeling. A major remodeling would include new cabinets, counter tops, flooring, appliances, and decorating. Since the kitchen can be a major concern of the homemaker, remodeling it can add greatly to the value of the house. As much as 75 to 80 percent of remodeling costs can be recovered in resale. Remodeling the kitchen, therefore, is a good investment , even if the home is sold soon after wards.
- Bathroom Remodeling. This involves new walls, floors, and fixtures. The remodeled bath will not only beautify but also update a home. However, in the short term, only about 30 percent of the cost will be recaptured in resale.
- Adding a Full Bath. A full bath includes a tub and shower, toilet, vanity, sink, and medicine cabinet. An extra bath is an important addition, particularly when there are three bedrooms and only one existing bath. It is a very strong selling feature. From 80 to 100 percent of the cost can be recaptured when selling the home.
- Windows, and Doors. New windows and doors can improve the insulation of a home and reduce heating and air conditioning costs.They can also increase the security of the home. This improvement is an excellent investment for someone planning to keep a home. However, only 25 to 30 percent of the cost will be recovered if the house is sold in a very short time.
- Siding. Siding usually includes added insulation plus aluminum or plastic siding. Siding will improve the appearance of a house, makes it more maintenance free, and increase its energy efficiency. This is a good investment even in the short term since up to 70 percent can be recovered.
- Insulation Adding insulation to levels of R-42 in the attic and R-19 in the walls will improve energy efficiency. Such a project will pay for itself in three to five years It is a good investment for anyone planning to live in the home for four to five years or more However, in the shorter term, only about 50 percent will be recovered in the sale price.
- Patio and Deck A patio or a deck can be added to the house to improve its appearance and livability. They are of greater value in climates where they can be used more often. They can be good investments in the sun belt states. In colder climate, only about 40 to 50 percent of the cost can be recaptured.