Value or no value? That is the Question
If you are considering a remodel or upgrade, you may be wondering if your project will add value to your home or not. Some remodels are done for personal choice or taste, while others may be considering resale value. If you are considering selling your home in the near future, you should be considering whether or not the remodel will provide a return on your investment, as you may not get the full value from your project. Below is a useful list that will answer your questions.
Replacing a kitchen can be a costly renovation. But, it doesn’t have to be. Updating cabinet faces with paint or hardware can be a quick-fix to a fresh look. Sinks and countertops can be an inexpensive change that makes a big impact as well. Realtors agree that updated kitchens and baths bring significant payoffs at resale time. When buyers walk into a dated kitchen, they begin to add that to the cost of the purchase which can bring down the asking price.
As a general rule when updating or remodeling a bathroom, look to spend about 12% of the home’s value on the cost of renovation. Bathrooms tend to yield a lesser return on investment than do kitchens, so keep this in mind. Though the bathroom remodel is not the highest return on investment, if you have only 1 it could prove to be a good choice for resale value.
Patio and Lanai Area
Adding a patio or covered lanai area and increasing usable outdoor space, it is a great way to add value to your home. We live in Florida after all, and we spend much of our time enjoying the sunshine. All liveable space increases value, and the outdoors is no exception. Talk with your contractor and perhaps a realtor regarding function and design for making the most out of this remodel.
Adding energy efficient products such as windows, appliances or insulation will not only add value to your home but also save you money on the interim. Consider the amount you will save versus the cost and determine your break-even point.
Here are some of the renovations that bring the greatest percentage return on investment:
Entry door replacement: 96.6 percent
Garage door replacement: 83.7 percent
Minor kitchen remodel: 82.7 percent
Here are some of the renovations that yield the smallest returns:
Home office remodel: 48.9 percent
Backup power generation: 67.5 percent
Master suite addition: 67.5 percent
No matter which project you choose to take on in order to increase your home’s value, consult with a contractor like Golden Construction to weigh your options and let us lend you our expertise. We are a state-certified general contractor with more than 2 decades experience!
Planning a Kitchen Remodel?
Are you getting tired of your old appliances and the outdated look of your kitchen? Is 2018 the year that you are ready to make a change? Why don’t you start with a great kitchen remodel? There are many advantages to remodeling your kitchen. It is a time-consuming process however the results are worth it. Before you start your project, keep these 6 steps in mind and your kitchen remodel will run smoothly.
Planning out the Design
Before you get into remodeling think about certain factors such as durability, efficiency, and current trends. The size of your kitchen doesn’t matter quite as much as formulating a plan before you start renovations. In a kitchen, it is all about functionality. Determine the things that you must have in your new kitchen from storage to types of countertops and appliances.
Contractor with a Designer or Designer Experience
You may think you have got it all covered but a professional kitchen designer can help you make the most of your space. An experienced designer will be able to give you ideas that you may not have thought about before for your kitchen project. Sure, many contractors have built or remodeled plenty of kitchens, but they are usually following a print. Hire a contractor with a designer or one they recommend.
Determine a budget prior to starting the job. This will help you choose materials and items along the way. Make sure that you don’t compromise on the quality of work. Sticking to a budget can be difficult but it is necessary to avoid monetary headaches later. Working with your contractor will help you determine if your budget is not only feasible but reasonable.
Cabinets and Countertops
The basis of your kitchen is the countertops and cabinets. This is what you will use the most. Be sure you look at all your options of materials and choose one that you will be able to enjoy for years to come. Think of wear and tear as well as function. Certain materials may be a better fit for how you and your family use the kitchen and how often.
There are multiple options for appliances and all budget types. There are also a variety of finishes including stainless steel and even refrigerator/dishwasher panels that can conceal them behind the cabinet door. Focus on the features that you must have to help you narrow down your choices.
Your kitchen will have a lot of heavy traffic. Make sure you pick a floor that is highly durable with low maintenance. Talk to your designer and contractor regarding certain types of tile or wood that work best for most types of kitchens.
When it comes time to plan your kitchen remodel call the experts at Golden Construction. Our years of remodeling and construction expertise will help you get the kitchen of your dreams.