Remodeling your home: How much is too much?
The classic way for homeowners to increase the value of their property is by remodeling existing rooms, or adding on to the current floor plan. Some people choose to build recreation rooms, studies, or add a garage. Others replace appliances, fixtures, flooring, or cabinets, to enliven rooms, and make their home more attractive to future buyers.But, when should you decide to stop sinking money into a home, and buy a bigger place? How much rehab is too much, when it comes time to recovering remodeling costs through a home sale? Here are a few things to consider, if you are struggling to add space, or value, to your home. – First, always protect the character of your home. Nothing sticks out more than a new addition that is in a completely different architectural style. Be consistent, recognize your home’s character, and stay within its framework.- The most financially rewarding areas to remodel are usually the kitchen, and the bathrooms. Newly re-done cooking spaces, and cabinets, can attract more buyers, and may command a slightly higher price for your home, than a comparable property on the market. Simple repairs to these areas, that are made to last, will bring you the biggest returns upon sale.- Enlarged bathrooms are the most popular attraction for homebuyers, according to the National Kitchen and Bath Association. Today, the most popular additions for younger buyers are sunken whirlpool baths, and showers. Be sure to install modest, solid amenities. It’s easy to quickly over-spend on bathroom fixtures.- Replacing worn carpeting, and adding tile, or wood, floors can give your home an immediate advantage over similar properties in the area. Updating paint colors in all areas of your home can also prove beneficial. It is recommended that you use neutral colors, such as gray, beige, and off-white, when adding new floors, and wall coverings. Fewer buyers will turn away, because of differing tastes. – Stay simple with your remodeling, and look at your home as though you were the buyer. Chances are that if you find the upstairs bedroom could be brightened by a larger window, potential buyers will probably feel the same.- Don’t go overboard, and concentrate on improving two, or three, deficiencies in your home. More than likely the time, and money, you spend adding quality, and space, to your home, will be rewarded with greater profit at selling time.
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