Aubuchon Home Repair & Remodeling
 If
your family has to wait in line to take a shower, or if you
are storing pots and pans in the laundry room due to lack of
cabinet space, it could be time to consider a home
remodeling project. Not only will an updated space make your
house more pleasant for you and your family, it can pay off
in higher resale value.
To find out if your project will add to the resale value
of your home, take stock of other houses in your
neighborhood. Have many of them been upgraded in the past
few years? If your house is the only one around without a
finished basement, that would be a good project to consider.
If everyone on the block has added a bathroom or upgraded
their master suite, these projects would pay off as well.
Remodeling magazine conducts an annual survey that
compares construction costs with resale values. Over the
past four years, bathroom and kitchen remodeling have
consistently shown good returns on investment. In 2005, a
kitchen remodel that included updating cabinet fronts;
replacing the oven, stove, sink and faucet; adding new paint
or wall coverings; and replacing existing flooring recouped
98.5 percent of the job cost at resale time as a national
average.
Bathroom remodeling pay off even better. Updating a
bathroom that is 25 years old with new fixtures, tub, and
toilet; adding new tile, a solid surface vanity counter,
ceramic floor and wallpaper recoups on average 102.2
percent.
 Of course, you won't want to tackle a home improvement
project solely for the resale value, especially if you
intend to stay put for a while. A remodel can contribute to
a better quality of living for your family while your house
increases in value. Choose an improvement that makes sense
for you and your family and one that you can afford.
To decide if a home remodeling project is right for you,
make a list of features that you would like in the room to
be renovated, taking into account how you and your family
use the space. Consider traffic patterns, lighting and
special features you'd like, such as a wet bar or walk-in
shower.
Next, figure out how much you can spend on the project.
You might want to consider taking out a home equity loan to
finance the remodel. Because the loan is secured by your
home, it will likely have a lower annual percentage rate,
and you may get some tax breaks, too.
When we are finished, you'll have a beautiful new space
for you and your family to enjoy for years to come. |
