Myth or Fact: Can Remodeling Improve The Value Of Your Home?

LOCAL RECORDS OFFICE – For those who are considering remodeling a home that will soon be put on sale, there is the important question of whether the money you invest will be reflected in the value of the home itself. “If there is an obvious remodeling situation that is needed to repair damage to the home, go ahead and get it done, says, the pros from Local Records Office. However, if the main focus of the remodeling effort is to improve the overall sale value, you may want to consider all the options first before making the decision.

Myth or Fact: Can Remodeling Improve The Value Of Your Home?

A Remodel Does Not Necessarily Improve the Value of Your Home

Just because you have added a new room, put in a new deck, or revamped your heating or air conditioning system does not mean that you will see that investment added to the price of your home. Home values are set by factors that include location, size, prosperity, and criminal activity that are in your neighborhood. These are factors that for the most part are outside your control.

The smart move is to focus your remodeling effort on what really sells the home or at least addresses the concerns that potential buyers may have. For example, adding a new deck is not going to do much if the home is perceived to be in a dangerous neighborhood. However, adding a security system would be far more beneficial.

What You Value Others Might Not

For every person that values a new deck or pool, there is someone else who sees it as potential trouble spots. For example families with small children and or pets. The maintenance and care of a pool or deck is something that many people would rather not deal with if they could help it. So, instead of adding something that you might want, you should instead look at what might be universally appealing instead.

Focus your efforts on the things that you would look for when purchasing a home. Remember that most people see a home as a blank slate that they can add their own ideas. This is very important to keep in mind when looking over your home for a remodeling job.

Kitchen & Bathroom

If there are two areas of the home that are best suited to be remodeled, it is the kitchen and bathroom. Both of these rooms are usually the first place that potential buyers go when looking over the property, in particular the kitchen. If your kitchen or bathrooms are old, in need of repair, or even look dingy and dull a remodeling effort can be just the ticket to spruce them up.

The Over Used Fresh Coat of Paint Trick

Most of us have heard of the ‘fresh coat of paint’ trick, this is when the seller or the person doing the remodeling paints over the entire walls to make it look newer. Yes, it does give it the ‘illusion’ of a newer house but the problem with this is that a lot of people paint over mold and mildew and don’t take care of it properly.

Mold is known to cause serious illnesses in children and small pets. Another problem is the type of paint they used, believe it or not many people are still using lead based paints that are linked to cause cancer. Lead paint has been banned in the United States but some people want to be cheap and save money and used old paint that’s been siting in the garage for years. The combination of mold and lead paint could be toxic to anyone who inhales it.

Open Living Space

Open living space became popular in the early 00’s. The open style theme takes the idea of large studio apartments and a sophisticated look. Open living space is a great way to go for a new family or a family with children, the open space gives kids a large area to play. The large area is also great for parties and family time. Open living space, is often done by removing a wall to give the living room a larger look. The downside is that it doesn’t give you much privacy since much of the living room is a big open space. This may work for families with children but it doesn’t work for large families who need their privacy and elderly couples.

  • Large families: Families of 4 or more need privacy. An open living space doesn’t give them that. Teenagers want privacy.
  • Elderly Couples: These type of couples usually want older style homes, modern homes is not for them.

By personalizing a house the home may loose its value and you may have trouble refinancing or selling it in the future. If you plan on selling soon don’t go with open living space and if you do re-construct the wall you remove.

Furthermore, you may not have to empty your bank account, as many remodeling jobs are fairly inexpensive. Refinishing the tub for example can make it look just like new for a fraction of the cost compared to replacing it or installing a shower stall. Updating your appliances and repainting the kitchen also has a powerful impact.

Here, you will need the help of a real estate agent who can offer sound advice about what buyers look for in homes where a remodeling effort can help.

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