For those on a budget, it may be necessary to buy a fixer-upper. If you are planning on remodeling your home, it is important to do so in a way that maximizes the potential return on investment. This may mean doing research ahead of time to determine what changes to make to the home.
Determine What Buyers Want
Even if you aren’t planning on selling the home for a few years, it is important to create something that can sell. This means doing research into trends that are likely to last for the next decade or so. For instance, smart technology may make your home more valuable to a buyer. It can be helpful to do some research on home buyers in your areas to get a good idea of what sorts of features they are looking for. Likewise you could communicate with local appraisers to learn what their suggestions are. Online platforms like qualtrics or surveymonkey are good ways to reach out for this information.
How Does the New Home Suit You?
While it’s important to add features that buyers want, be sure to create a space that you will enjoy using. This means that that a pool or a dedicated office space should only be included in the remodel if you will use them. Otherwise, it may be best to put that off until it’s time to alter the home again. A good way to think about this is to ask yourself if the home is one you would be happy living in. If the answer isn’t a resounding yes, then you should invest in changes that will make it so.
Fix the Important Stuff First
If the roof is leaking, it may be best to fix that before finishing the attic. The same goes for any electrical or plumbing work that may need to be done. While you may not be able to see the benefits derived from internal fixes, it is much better to live in a home that doesn’t leak than one with a flooded basement. It isn’t a bad idea to update some of the house’s main systems either, such as the heater and air conditioner.
Should You Work with a Contractor?
Working with a contractor may allow the job to be completed in a shorter period of time. However, it will cost more to complete. Therefore, it may be a good idea to pitch in wherever you can make sure that your remodel doesn’t go past your budget. At the very least you should consider renting a dumpster from a company like Tri-State Disposal or someone similar.
Know Your Budget
It is critical that you have a budget and stay as close to it as possible. If you work with a contractor, he or she can recommend materials and other options that maximize every dollar that you spend. Setting a budget can also help you determine which work to outsource and what to do yourself.
A home remodel gives you the opportunity to turn your house into a home. Integrating your own ideas for how the property should look can give you a sense of pride and true ownership over it. However, make sure that any changes that you do make are done with an eye toward getting the best value for your money.