Tag: Improvements

Many home buyers run into serious spatial concerns just five to seven years after having moved into their new homes. Families grow and change. Houses, however, do not. If this sounds familiar, you may want to renovate your property, rather than selling it and searching for a new one.

With a renovation project, you can expand your current abode or radically alter its interior design in order to free up space. For instance, your project may be as simple as knocking down a few interior walls in order to create larger and more open spaces. This type of interior layout can be far more flexible in terms of meeting the needs of growing households than are those that have been sectioned off.

Some households opt to add in-law units to their properties. These sit on the same tract of land but they are entirely separate from the original structures. If you have an aging relative or a college-age child living in your home, this is a great way to give your loved one more space while still living in the same basic area. Units like these can also be rented out in the future for additional income.

Before beginning these efforts, you should determine your budget and decide how you will fund this project. Some families may need to implement these projects in affordable stages. This allows them to pay for various improvements as the funding becomes available. Keep in mind that you do not need a tremendous amount of money to make impressive changes at home. You may even find that these efforts can be a lot cheaper than trying to upgrade to a bigger property by simply selling your current house.

There are many builders who may be willing to accept retention payments. Retention payments allow you to remit funding for each phase of a project right after the last phase has been completed and approved. It gives you the chance to verify that the workmanship is up to your standards, while giving you a longer period of time to cover the full costs of these endeavors.

If you have additional goals aside from creating more usable space, you should define these before you start shopping around for a builder. For instance, you may want to make your home more energy efficient or more aesthetically pleasing. Knowing what you want in advance of starting is key for choosing the right contractors and building materials.

Determine whether or not it will be possible to earn any credits or rebates by altering your design. Adding on solar panels or increasing water efficiency is one way to qualify for special government grants. Anything that you do to protect or improve the local environment could lead to the award of funding that you can use to offset other aspects of your improvement project.

Start screening local custom home design companies to find the right professionals to head your renovation up. Look for builders that are aligned with reputable supply companies and who are willing to stand behind their work. You can find a lot of reputable builders online, many of which have comprehensive image galleries that host photos of their past renovation projects.

Not all home remodeling projects will do your house good. Here are some home improvement myths you probably believed until today.

1. Customized Features

Many believe that adding personal touches to their house will help in raising their home’s market value. Unfortunately, this is not the case for any home. Not everyone likes a cowboy-hat shaped pool, but most homeowners would like a pool (if they can afford its maintenance and creation). Before you venture adding personal touches to your home, make sure that there’s a demand for it, as is with selling anything in today’s market.

2. All I Need for a Project is Myself, Some Tools and the Internet

It’s always costly to hire a contractor, you might say. It’s easier and I could add some personal touches to my house if I do it on my own. That’s what most homeowners with DIY projects that ended up in tragedy said the first day. Contractors are paid top dollar because of their experience and knowledge in the field. What do you have against a contractor who had built an entire village in his or her lifetime? None at all.

3. Design Trends Will Sell My Home

Not quite. Chances are your house will receive great attention in the market for at least a year. Once the trend changes, your house will be left to little markets yet again. It is far more important to focus on making timeless home designs that appeal to a broad range of home buyers. Adding a garden or using neutral colors in your home helps it become pleasing to the eye as a canvas for home buyers. However, be aware that some home buyers may not be capable of instantly visualizing their home, so add something that can give them ideas too.

4. Renewable Energy

Renewable energy technologies, such as solar panels, windmills and geothermal plants help your home earn great tax deductibles per state because it reduces pollution. However, not every homeowner is willing to shell out a few more thousand dollars to ensure they have a tax-deductible home that saves them monthly bills. If you really want to sell your house, give them the option to opt out of your renewable energy technologies.

5. Higher Quality Materials Will Guarantee Home buyers

Again, not quite. Home buyers are looking for something worth their money and practical. Focus on practical. Using high quality material will ensure the house is sturdy, but you cannot justify that paying $100 for every board in the house must increase the value of your home. Demand will be the only metric you have to measure home demand, never the material used for home buying.

6. Paint Doesn’t Solve Everything

Some homeowners who couldn’t afford to do repairs will use paint in every bad area the house has. Paint actually violates some disclosure laws for house selling in many states. You would also incur an additional bill on top of home buyer demands that you make repairs on the house you just sold. No cheating!

7. Garages Into Living Rooms Can Add Interest

It actually doesn’t. Garages turned into living rooms could turn off many home buyers, especially those who own vehicles, which are a majority in this country. If you intend to do this project, make sure that you could return the garage to its true functioning form at any time.

8. An Additional Square Foot

Adding on top of another floor will never be an attractive offer for home buyers. Sure, it adds value to your home. However, if it’s a rush job, it’s sub-par to your house’s structural integrity and living quality. Also, it may be useless for many home buyers.