The Top 2 Reasons You Should Sink Money Into Your Home
Homes require serious upkeep. And, if you’re fairly certain that the home you’re in now won’t be the one you’re in forever, you should be doing maintenance with the goal of making it a desirable property for sale in the future. Naturally, remodeling and additions can go a long way towards improving the saleability of your home, but some homeowners might wonder if the return on investment is big enough. If you’re dithering on a garage addition or basement remodeling project, read on! We’ll talk about the advantages of sinking money into your home, what you want to consider when taking on a big home improvement project, and what you should be looking for in any contractor, whether it’s a general home improvement contractor or a more specific type of contractor.
What are the Advantages to Investing In My Home?
Sinking money into your house will make it more attractive to potential buyers down the road, but it will also make it more comfortable and easy for you to live in too! If the lack of storage in your kitchen or your damp basement or the fact that you don’t have a garage has always bothered you, change it! A recent survey showed that around two-thirds of homeowners had plans to renovate, which goes to show that improvements can always be made.
If you’re investing in your home to sell down the line, you’ll want to be thoughtful about what renovations or additions you undertake. For example, Home Advisor reports that your average basement remodel will yield you as much as a 70% return on investment.
What I Should I Know Before Taking on Say, a Garage Addition or a Basement Renovation?
Whether you’re tackling a garage addition or a renovation of some kind, you want to think about what space you’ll be using up and how to best work with it. Just because you add a garage doesn’t mean that you’ll gain another couple thousand square feet, for example — that garage is going to take over some of your existing driveway or yard. And if you’re renovating, think about what in your space isn’t working for you right now — and what you want to see there instead.
Budget like crazy. It may seem like common sense, but map out in excruciating details all the potential costs you foresee, and then lay aside a good chunk of money for unforeseen costs (there are always some!). This will help keep your goals realistic, your work more streamlined, and prevent work from being halted in the middle because you didn’t allot enough money to the project.
Hire a professional. From anyone as general as home renovation contractor or more specific, like a finished basement contractor, you want to have a professional on your side. They’ll know the ins and outs of the project you’re proposing, make sure all safety guidelines are met, and be able to run and oversee your project efficiently.
What Should I Be Looking For in a Home Remodeling Contractor or a Contractor Generally?
It perhaps goes without saying that you should take a look at their credentials first. Make sure they’re licensed and registered to work and that they carry insurance. Don’t be afraid to get a few quotes from different contractors to do a compare and contrast.
Be upfront with them about your budget and ask what they require financially. How much do they ask for upfront? When do they expect payments to be made? And remember: the devil is in the details, so ask for a contract and make sure that everything you discuss or agree on is in writing. Then review the contract carefully to make sure that everything in the contract is what you agreed upon.
Of course, you also want to make sure that you feel you can have a good working relationship with this contractor. Do you feel that you have a good line of communication and that you’re all on the same page?
Don’t be afraid to start that new garage addition or basement remodel. With the right tools and planning in hand, you can make your home incredible!