By Barbara Lehrer
Real Talk
Barbara Lehrer.
Renovations may be costly, by oh boy, how you reap the benefits. First you get to enjoy the newness of it all. Then when it is time to sell, your home is always chosen over those that need upgrading. New kitchens and bathrooms, remodeled basements, and new flooring are the items you can see with own eyes. Buyers will always pay more to get the home that is ready to move right in.
Although you can obviously ask a higher price for a remodeled home, how much more is always the question. Generic designs and grey paint are popular. If you put too much of your own taste into the project, others might not be attracted to your scheme.
Professional help is always recommended when considering major renovations. The expense to change cabinets, light fixtures or appliances are not cheap, but it could make the difference between selling and not selling. Any time you market your property, there could be five other homes on the listing service that are similar to yours. If you are a buyer and selling, you can really appreciate a home that has done all the work for you.
There are many facets to taking care of your home. For example, if you have just done windows, furnace and roof upgrades, you might next want to check the old bathrooms with the tiles from the sixties. It is a lot, but every home requires approximately $5,000 or more a year in upgrades. In 20 years you’ve invested $100,000. It is necessary in order to keep your investment current. Budgeting for the future and deciding on projects down the line is all part of home ownership.
Take the time this winter to evaluate the interior, while the outside sits until spring. Start the new year off right: check the attic insulation, the basement corners for dampness and make sure these two areas are clean and dry so your home can breathe properly.
Then you can take a breath also while you put a pencil to paper and draw up a new wish list. Think about the one item you always wanted to change and get on the phone to a contractor. You will reap the benefits right away and later when you decide to sell your home.