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Remodel Your Home And Increase Value Today
Remodeling to increase the value of a home has traditionally been a good idea. When the market came crashing down, however, the ROI for house remodels went down significantly. There are certain areas within the U.S. real estate market where it can nevertheless be a good deal, though. Thanks to SmartMoney, here are some ideas to work with.
Remodel the kitchen right
Today, kitchen remodeling is a $12.6 billion industry. After the 2009 housing bubble collapse, kitchen remodeling became something several individuals wanted to do. SmartMoney states that $27,300 is what the average homeowner spends on kitchen remodels. That's only 8 percent below the average cost at the height of the U.S. housing boom, states Harvard University's Joint Center for Housing Studies, however there are ways to economize. As demand has decreased during the recession, some cabinet manufacturers have cut out surcharges for custom work, decorative finishes and highest-quality wood. You could conserve 20 to 30 percent if you just ask. Unfortunately, the same can't be said for hand-painted tile, as there is not the kind of backlogs that would necessitate driving down prices. According to SmartMoney, it is wise to stay away from sourcing materials straight from a manufacturer. Saving cash isn't worth it. The potential for sizing error increases, which could force you to pay more for return shipping and repairs.
Also need to fix the bathroom
The return on bathrooms is going to always be there, whether it be a good or bad market. A 53 percent average return is currently there. Since the housing boom, there has been a 50 percent decrease in some of the high-quality granite, mostly because of Asian competition and rock quarries in Brazil. Similarly, porcelain sinks are down in price by 50 percent because of increased Chinese import activity. A project for restroom renovating is worth it. Try it out. One bathroom undertaking to try is a spa shower. SmartMoney suggests this is a choice. You definitely want streams of water. Only one shower hookup is needed to do this. There are non-adjustable shower tower kits that you can use. These aren't adjustable for people with different heights though.
Fix your backyard
You may get more cash out of a nicer remodeled backyard also. Deluxe grills, pizza ovens, refrigerators, warming drawers, wine chillers and cabana roofs have sold well during the recession, claims SmartMoney. Prices have not changed with the rising demand. This is good news. The installation costs are down 20 percent or more. Homeowners know that landscaping negotiation is simple too. A "hot tip" SmartMoney offers readers is to consider a gas fire pit rather than a masonry fireplace. There is a lot of flexibility with the pits that are typically portable. It costs thousands of dollars less to simply get the gas pits too.
Information from
Oprah
oprah.com/money/How-to-Make-Your-Home-Renovation-Pay
Smart Money
smartmoney.com/spending/for-the-home/3-renovations-worth-the-money-now-1302561618674/
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