Re-purpose or Re-sell… It’s a Dilemma in Today’s Market.
With the real estate market stagnant, many of homeowners have chosen to move forward with ideas for improving their current homes rather than move. More frequently, people are enhancing their homes, making them more enjoyable, all while improving the value of their best-appreciating asset.
Doing It “Right”
Advantages of re-purposing your home are many. The key is to plan the project sensibly. While many choose the home improvement super-center, it may be more cost effective in the long run to hire a professional to take on your project. The reasons for this are many, including time-line to completion, product knowledge, and, most importantly, quality. While updating your home is sure to improve its resale value, no one wants to purchase a home that was someone else’s practice. Talking through a project with someone who understands construction and the scope of your project will make a world of difference in the final product.
There are standard costs associated with areas of remodeling work. It shouldn’t come as a surprise that a kitchen is typically 10 times as expensive as finishing a lower level and that adding or moving plumbing will add to the cost of a project. That said, well planned remodeling can bring as much as an 85% return on your investment. Plus, you also have the chance to enjoy it!
Several easy-to-do ideas to maintaining and adding value to your home include: updating a patio or deck area; painting bedrooms, living rooms, the den, etc.; adding storage systems to closets; replacing linoleum flooring with tile; and replacing carpeting, just to name a few. The right treatment can make your home more enjoyable and create an exciting new look for your property.