Posts Tagged ‘remodeling’

Prioritize Home Improvement and Remodeling projects by budget and value-add basis

Over the past few years, the cost of remodeling homes has increased. Research has actually shown that Americans spend about two hundred billion dollars yearly on improving their homes. There are many factors that might make a person consider remodeling a home. Since remodeling is costly, it is financially sensible to prioritize such remodeling projects first.

Prioritizing entails determining the duration that you intend to continue living in that house and making a list of the remodeling projects that you are considering. Your list should have the most important project at the top. If you are planning on living in the home for a short term, it’s worth considering low-cost upgrades that will most likely appeal to potential buyers, such as replacement of doors or repainting. If your home is long term, you can consider intense projects like bathroom and kitchen remodels.

Determine the value of the home improvements or remodeling

Is the improvement worth it? Some home improvements, like landscaping the front yard, adding new siding or adding some extra living space can increase the value of the home in the long term. However, several factors will determine your ability to recover the expenses that you spent in improving or remodeling the home. The duration that you intend to stay in the house and the type of improvements are some of the factors. Before deciding on a remodeling or improvement project, first consider the long term value and do not assume that by selling the home after the improvements, it will have a higher value.

A recent survey showed that most people remodel their homes hoping that the sale value will increase. If you are among such people, it is important that you first understand national trends. The cost of remodeling or improving is not directly proportional to the costs of sale. For example, a kitchen remodeled at $18000 will return about 75% of the investment, that is about $13000. The same study showed that adding a $1300 steel entry would return $900 upon resale.

Projects that you should be considered

Most Americans remodel or improve their homes in a bid to please themselves instead of future homeowners. If you do not plan to stay in that house forever, the remodeling should be done considering the future buyers. Some projects are not worth the high costs. In order to get best value for resale, improvements should majorly focus on the exterior, the kitchen and the bathroom. However, not all exterior improvements are sensible. An above ground swimming pool adds very little value to the home.

Shop around and make comparisons

Home improvement and remodeling costs a lot. It is therefore important that you shop and compare the different available options. Get at least four bids from price shops or remodeling contractors that will help you in choosing. You should not, however, select the cheapest contractor because he will save you a lot costs. Consider previous projects and see if they were done to a satisfactory level.

It is not true that spending a dollar in improvements will add a dollar to the eventual value of your home. However, by making the right improvements, the value of your home will go up. It is therefore important that you understand which improvements add value. You can achieve this by setting your priorities right, creating a sensible budget and finding a good improvement deal.

Pros and Cons of Building A Sauna in Your House

Building a sauna inside your home is always exciting, but it’s also important to put the whole project into perspective. When it comes to home improvement projects like these, home owners should always make a cost-benefit analysis. On the one hand, building a sauna will certainly increase your property’s value, and, of course, you now have something that will help you and your family relax. On the other hand, building a sauna is not cheap, particularly if you don’t want to use wood burning sauna stoves for your source of heat. So to help you put this issue into perspective, here are the pros and cons of building a sauna in your house.

Pros

building a sauna in your home(1)Remodeling – When you build a sauna inside your home, you may be forced to do some remodeling around your home. This is advantageous because in most cases, building a sauna improves the appearance, plumbing and energy efficiency of your home.

Health and Relaxation – Obviously, one of the best benefits of having a sauna is that it gives you and your family a place to relax. Furthermore, saunas encourage healthy lifestyle routines and they can even prevent certain diseases.

A Nice Aroma – Certain types of sauna, like those that use wood burning stoves, can create very nice aromas around your home.

Numerous Options – One of the best things about saunas is that there are plenty of them to choose from. You have the option to decide which type of sauna that you want to build. Do you want an indoor or outdoor sauna? Do you want a traditional wood burning/steam sauna or do you want an infrared sauna? Do you want to have a basement sauna or a sauna that’s above ground. It’s all up to you.

Cons

Install Cost – A sauna costs a lot of money to build initially and the cost depends not only on the size and shape of the sauna but also on the location.

Maintenance Cost – A sauna needs to be cleaned and looked at regularly in order to continue working properly. What this means is that if you don’t know how to take care of your home sauna, you will need to hire someone who does and this usually costs money.

Fuel Supply – Whether you’re using wood, electricity or a combination of both, your sauna will require a fuel source, and it’s up to you to pay for it.

Additional Costs – Aside from building the actual sauna itself, you will also need to make some changes around your home. A good example would be your plumbing, which needs to be adapted to the requirements of your new sauna.

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