Reasoning Your Redo
Many home improvement projects begin with someone in the household saying, "Wouldn't it be nice ...?" What follows may be a wish for a remodeled kitchen or a room addition with space to accommodate every family member's needs. However, reality usually intrudes upon this daydream: There's only so much money and so much space. The trick is turning your dreams into reality. Start by evaluating your needs. Most homeowners consider home improvements for one of these reasons.
You need to update the out-of-date.
If your kitchen still sports appliances and decor from decades past, now may be the time to make it current.
You need to replace fixtures or appliances.
Sometimes a home improvement project grows out of an immediate need to replace broken or inefficient fixtures. If the sink, tub or toilet has to be replaced, many people take the opportunity to refurbish the entire bathroom.
You're selling your home.
You want to be sure you'll get top dollar from the sale of your home, and that may be the rallying cry for some home improvement projects.
You're staying put.
You thought about moving, but now you realize that improving your present home is a better option.
Your family has grown and you need more space.
Improving to Move or Improving to Stay
You need to evaluate your plans carefully if you're improving your home to put it on the market. Cutting corners could hurt rather than help your prospects, but you don't want to go overboard either. Potential buyers may not want to pay for the extras you have included, such as a hot tub or pool. It's best to keep changes simple.
Also keep in mind that people viewing your house may not share your tastes and therefore won't necessarily appreciate the time and effort you put into finding just the right shade of green paint for the walls.
Improving to sell is easier if you mentally put yourself on the other side of the proverbial fence: What is important to the home buyer? Here's a list of remodeling projects that buyers are likely to find valuable:
If you're remodeling in order to stay in your home, you still need to avoid over-improving it. You'll probably sell someday, and even if your house is the best on the block, you may have a hard time convincing buyers to pay extra for the things you found so important. Keep the value of other homes in the area in mind whenever you consider improvements. Your home's value should be no more than 20% above the average. That means a $10,000 kitchen improvement project might be a better idea than a $10,000 hot tub, especially if no other homes in your area have hot tubs.
Home Maintenance
Unfortunately, some home improvement projects get started because something is broken. A leaky plumbing fixture may be the first step to a major bath remodeling. After all, if the tub has to be replaced, why not do the whole room?
While that's certainly one reason to remodel, you'll generally want to avoid basing your home improvement projects on immediate need. Proper maintenance will help to minimize problems. Go over every part of your home at least once a year. Check out the roof, plumbing, electrical wiring, etc. As soon as you notice a problem, fix it. Early attention to repairs will help you avoid a larger expense later on. Remember maintenance does not add to the value of your home. Repairs, generally, are not improvements but necessities.
Tomorrow I'll post part 2 about getting started..
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