Need help with home improvement?
It's a simple fact, consistently confirmed across Canada over a very long period
of time, that even the most appropriate major improvements are unlikely to
return their full cost if a house is sold within two or four years.
Does that mean that major home improvements and renovations are always a bad
choice? Not at all. Although it does mean, , that if your existing house falls
seriously short of meeting your family's needs you need to think twice, and
think carefully,
before you decide to undertake a major home renovation. Viewed strictly in
investment terms, major improvements rarely make as much sense as selling your
present home and buying one that's carefully selected to provide you with what
you need.
Even if you have a special and strong attachment to the home you're own and feel
certain that you could be happy in it for a long time if only it had more
bedrooms and bathrooms, for example, there are a few basic rules that you should
keep in mind before undergoing any "home renovation" project.
Probably the most basic rule of all, in this regard, is the one that says you
should never, unless you absolutely don't care at all about eventual resale
value, improve a house to the point where its desired sales price would be more
than 20 percent higher than the most expensive of the other houses in the
immediate neighbor hood.
Try to raise the value of your house too high by performing major home
improvements and surrounding properties will pull its value down.
Indeed, some "improvements or renovations" can actually reduce your home's
value, and your chances of selling at a good price, say experts. So what are the
sure fire winners, which should pay for themselves and boost salability when you
come to move?
Key points you should consider before hiring a "general contractor". :
Central heating can be expensive upgrade in your home but future potential
purchasers may be put off if you don't have it, so you should recoup your money
with this HVAC improvement. Best on the list of new heating systems is two stage
furnaces with variable speed furnaces.
Secondary glazing on the inside of existing windows may be preferable to double
glazing for a period home with original features. Although you are likely to get
back only a third of your money on double glazing, savings will be made on
household heating and electrical bills.
Make sure any home improvements are appropriate to the character of your
property. Try to avoid replacing old features, such as stained glass, and
original skirt boards with new and up to date ones.
An extra bathroom will keep its value, as long as it is not built at the expense
of a bedroom. If the property is fairly large and has upward of four bedrooms
with one bathroom, converting a bedroom into a bathroom may have certain appeal
and homeowners may possibly break even on their investment.
A new kitchen is a popular home improvement but homeowners are unlikely to get
back more than their original investment.
Stripping wooden floors or refinishing may look attractive, but ensure the floor
boards are of good quality. This improvement and renovation won't add greatly to
the value of the home.
Knocking through walls may provide additional space but will also provide fewer
rooms, any reduction in rooms could devalue the realaste property.
A swimming pool may be the height of luxury, but potential buyers may be
concerned about security risks for small children and expensive running costs. A
pool may recoup as little as 10 percent of the initial cost and so should not be
considered to be a good house improvement.
Never rearrange the interior of your house in a way that reduces the total
number of bedrooms to less than three.
Never add a third bathroom to a two bath house unless you do not care about ever
recouping your investment.
Garages are sought after features and will almost certainly recoup your
investment.
Consider if your improvement renovation requires planning permission or building
regulation approval.
If you are thinking of taking out a loan to fund your home improvements, read
these loan advice article first.
And finally make sure you have re-visited your home and contents insurance and
amend level of cover as appropriate
After reading all this you may decide that it's a better idea to move rather
than improve. In that case it is still worth looking at what home improvements
and renovations you can do to the house as it is often the smaller, relatively
inexpensive improvements that turn out to be most worth doing.
Window boxes and hanging baskets add colour and make a home look cared for.
Viewed from inside, a window box can help to disguise an unattractive outlook as
well as increase privacy for overlooked homes.
Cover out datedor worn sofas and chairs with large throws in a neutral colour so
that they are not noticeable when people look around.
The cost of replacing a discolored toilet bow, making sure all the windows work
or getting rid of dead trees and shrubs in trivial compared with large home
improvement or renovation projects such as adding a bathroom, but such things
can have a big and very positive impact on prospective buyers. Creating at least
a superficially improved looking home will greatly increase the chances of
selling your home, as well as upping the potential asking price of your
renovation.
"This professional delivers top quality work!"
General Contractor/Contractors for all home renovations and home improvement, for upgrades, Home additions, carpentry, kitchen cabinets.