Sometimes factors which increase or decrease the value of what you own may not be dependent on you. Sometimes you can influence this quite a bit. One thing is sure: doing absolutely nothing likely won’t help. What makes sense is finding ways to maintain and increase the value of what you own.
As regards to the property, there’s much to recommend periodic remodeling. However, you want to go about this strategically, or you’ll spend more money than the value your remodeling choices bring. Of course, if you have the resources, this may be acceptable to you.
However, if you’re really savvy about it, you can use remodeling as a means of increasing overall property value. In the following article we’ll explore several tips to help you find the best remodel choices for your home.
Maximise Unused Space, Including The Yard
Finish unfinished basements. Is the attic strong enough to support residents? Make a room out of it, paint the walls, put some lighting or ventilation in, turn the space into a sitting room. It could also be a bedroom, or an observatory. Certainly it may well work for storage, but if you downsize your junk and manage your property, it can increase the value of your home.
Look at your yard, too. Sometimes it’s best to carefully manicure a vegetable garden, or a flower garden. Maybe you want to plant some trees or bushes—these can increase property value. Perhaps you can tear up all the grass and sod, put down wood chips or rocks, and have yourself a fine little manicured backdoor park. Maybe you even install a tiny home.
DIY Projects: Decks, Tiny Homes
You can build your own tiny home for under $10k, if you’re smart about it and source the right materials. Additionally putting in a driveway to the alley and hooking up utilities gives you a property on your premises that you can rent out. If you spend $10k on a property that you can rent for $1k a month, you’ll be $2k in the green by the end of the first year of your tenant.
You can either hire contractors or build a tiny home yourself; you might even combine both methods. Whatever your best option here, using your backyard space to the max can increase property value. And you need not make a tiny home. You could put in a shed, or a “man cave”. Also, you could use DIY skills elsewhere in the home.
Consider putting in a DIY deck. Look into the code for your local region to determine what you’re authorized to do. You might find installing a DIY deck less complicated than it initially seems.
Kitchens are some of the most-used rooms in any house. People eat there, relax, socialize, and sneak snacks in the wee hours. Naturally, there’s a lot of wear and tear. You’re going to have to remodel your kitchen eventually to counterbalance this anyway, so a carefully-planned kitchen remodel makes a lot of sense.
Look at drawers, ovens, refrigerators, freezers, sinks, tables, and chairs. Also, look at what sort of storage options you’re putting to use. There are many cabinetry pieces that very well match your home. To get your imagination stimulated, you might look at some of these quality affordable kitchen cabinets. Quality and cost-savings should define kitchen remodel strategy.
Consultation And Balanced Remodels: For You, Or The Market?
Talk with friends, family, and local contractors you know to get an idea which particular remodels will best match your home. You’re looking for balance weighted toward profit. That is: you see ROI at least one to two times what you pay in. So if you spend $10k, you should see at see $20k in value, or break even.
Some remodel tips are better for you, regardless of property market value. Some are better for the market. For example, spending $5k on a solar energy array could return $10k to $20k in value, with a national average of $16k+. So if you’re looking to sell, you might install a solar array right before you list.
Tactical Advantages Of Planned Remodeling
There are a lot of different ways to strategically remodel your home in such a way as to produce profit. Look into what will best affect your property on the market. Get consultation. Consider strategic kitchen remodel. Look into DIY projects like decks, or tiny homes. Be sure to maximize unused space such as attics, basements or your own yard. Such tactics yield value.