Homeowners owe it to themselves to be forthright about why they are embarking upon such an important task, according to NYKB’s Perry Hiiman. It’s Perry’s experience that people renovate for all sorts of different reasons and circumstances, though most all are valid. However, having a clear idea of our goals through home renovation greatly in remodeling performance and planning.
Very often renovation is a financial decision. National studies have ranked the best performing home enhancements as per increasing resale value:
1. Remodeling kitchen/bathroom
2. Family room/bathroom addition
3. Master bedroom renovation
Part of selecting the right remodeling project is to be cognizant of the area in which you live. Researching your immediate home sales market. If you live in a “hot” or “up and coming” neighborhood – well, the argument could be made that it is unwise to not undergo renovation. Tip: you can learn a lot by talking to local real estate agents.
But home value is not always the sole goal of home improvement. There is also the quality of life factor. People just love new floors or kitchens. I don’t think anyone reading these words doesn’t already know this. Maybe it’s just ripping out that old tub and installing a whirlpool. Or perhaps a brand new state of the art kitchen. No matter, knowing what you want improved in your home and then getting it is one of the most satisfying joys a homeowner can experience.