Sellers: REMODELING: Strongsville Real Estate

By:
CJ Harrington
Keller Williams Realty
www.cjharrington.com
cjharrington.crs@gmail.com
440.336.0612

Date:
10-15-08

Quite often, it is necessary or desirable to remodel your home. This article provides an overview of some of the economic and stylistic issues that you should consider when undertaking this endeavor.
So, when you are ready to get started, consider whether the renovations you have in mind will justify the cost. This simple fact has become a serious problem in today's market as many sellers cannot recoup the cost of many of their household investment just simply because they we not worth it in the first place. Another good suggestion is to ask for advice from people who have recently remodeled their homes. Also, be realistic about your ability to do home improvements on your own. If you're not qualified, you could make expensive mistakes. Finally, review your budget and financing options to determine how you'll pay for the work.
So, when do you know it's time to make some major changes in your home? Most likely when you can't bear to look at your old bathroom fixtures and cracked tiles or the outmoded kitchen cabinets and shabby vinyl floor. Or it could be that you need some additional space to accommodate your growing family. Regardless of your reasons, you're certainly not alone when it comes to remodeling your home.
Remember, even when the stock market falters or mortgage rates rise, economists seem to agree that home building will continue to grow because rising home prices permit the homeowner's equity to be reinvested. As a result, renovations have become more upscale and home remodeling businesses have expanded to meet the demand for more sophisticated projects.
So, what are the popular remodeling jobs that will add value to you home? The most popular remodeling job is for the kitchen, which also leads in adding resale value to the home, according to Remodeling Magazine. One of the hottest trends is the "open design" kitchen, which is incorporated into the overall living area of the dining room, den and/or living room. Additionally, kitchens are being rebuilt larger to accommodate more people, food preparation, and storage. Space is being designed more efficiently with rollout shelves, lazy Susans, trash compactors, recessed lighting, and underground cook-top venting. Many designs include dual work areas with separate sinks and cutting areas or large granite "islands" doubling as preparation and dining surfaces. Skylights, dimmable lighting, stainless steel appliances, and wine coolers make the kitchen an attractive setting for entertaining guests while preparing a meal. Manufacturers have developed many efficient appliances to meet the needs of the time-challenged consumer. For example, there are convection ovens that move heated air directly onto the food instead of into the oven cavity, reducing cooking time up to 25%. And at least one manufacturer offers an oven that uses intense light to reduce cooking time. Meanwhile, the so-called smart appliances on the market can interact with your computer, so you can activate or control the dishwasher, oven, heating/air conditioning, or Jacuzzi over the Internet.
Another area to consider is the bathroom. Bathroom improvements are also extremely popular with homeowners, who are eager to sacrifice their small spare bedrooms to make way for huge bathing areas that often include a hot tub, separate shower, dual sinks, heated towel racks, bidets, and lavish marble floors and countertops. Moreover, ceilings are often being raised to the roof to create an atrium look with skylights and small trees, and it is not uncommon to find dedicated telephones for the toilet and the Jacuzzi.
Another great improvement in today's society, where 50 percent of all people work out of their home is the in home office. An office at home is in demand now, as workers choose to "commute" from home saving time, dry-cleaning bills, and transportation hassle and expense to become more productive and efficient. Since electronic communication can deliver corporate office and customer site meetings at home, an attractive, workable home office is needed to accommodate this new work culture.
So, now that you have an opinion as to what great improvement choices are available to you, just remember while these innovations are impressive, so are the costs. A standard kitchen redesign can run $20,000 to $40,000. Add in granite countertops and special appliances, and the price can climb well over $60,000. Although time-saving and fun, these new appliances can cause sticker shock, so comparison shop. And most of all make sure the improvement is value adding and not just a waste of money that you won't make back in the future.
Furthermore, before you even think about making a home improvement, you need to find a reputable contractor, and that may not be easy. Even if you know one, a reputable contractor may have a long list of projects. It may take months or even years to start the work, as the boom in home renovation demand often exceeds contractor availability.
Finally, make sure you do your homework on your next big investment. This may be a great time for home renovations. Sophisticated new appliances and larger living areas can create beautiful, stress-relieving surroundings while also saving you time and money. Banks are eager to make home equity loans, and loan interest is tax deductible as well. So take the time to find a reputable contractor. Do the research, talk to your friends, check references, get several estimates, and most important, get the contract in writing. These simple steps could keep your new dream home from becoming a "money pit."

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