If you don’t plan on selling your house in the
near future, home improvements have more time to pay for
themselves. They can pay you back in two ways –
by adding actual value to your
real estate, and by providing you with enjoyment and
use. In some markets, remodeling can be less expensive
than moving. Here are some tips for improving your home.
Don’t over improve for the neighborhood. Remodeling
will add value up to the point where your house becomes
similar in size, design and value to most of the other
homes in the neighborhood. Beyond that, anything else
you do could be an over improvement, and the value of
your home will not rise very much more no matter how much
money you have spent on it.
Upgrading your kitchen is the best room to focus on.
The kitchen is often the room that sells the house. But
don’t go overboard. Make sure the materials and
appliances you choose are appropriate to the overall style
and quality of your
home, don’t put a brand new granite and chrome
modern kitchen in a classic 1950’s home.
If your home has only one bathroom you should definitely
add another. Guest bathrooms and private bathrooms should
always be in their own space. Remodeling them is always
helpful, but ensure to keep it simple and close to the
characteristic of the home.
If the majority
of homes in your neighborhood have second residential
units then by all means add one to your home. Make sure
you do the research first. You will need to get planning
permission to receive a permit allowing you to do this.
Second units definitely have numerous uses in rural areas;
it can be used as a form of income by renting it out,
when affordable housing is limited. It can be used as
an office or studio in areas where many people work from
home or are self employed. It can be a guest house for
visitors during vacation periods, a caretakers home or
even a care giver or nanny’s own private living
quarters, to name a few of the many uses.
Remodeling
can be cost effective and easy. You just need to go about
it the right way to maximize
the value of your home. |
