Thinking about remodeling your home, but not sure exactly how to start? Don't worry we have all been there before.
The whole process is actually a lot easier than you might think, especially if you use the right contractor.
The hardest part for most people is getting all the funds together to pay for the entire project.
If this part worries you, just remember that when you remodel, add square footage, or improve your home in any way you add equity to your home.
So whether you turn around and sell it after you remodel it, or hold on to it a bit, the house will be worth more.
I always like to compare it to a car, a car is a depreciating asset that no matter how much money you pour into it, it will never be worth more than you bought it for.
And every year the car will depreciate until its functional value is worth more that it can bring from a sale.
So with that being said, let's get back to the remodeling scenario.
There are a couple reasons why you may want to remodel or start a home addition project.
Either you are looking at it from an investment purpose or because you plan in living in the house and enjoying the new features, or perhaps even a bit of both.
If it is for investment purposes it is best to consult your real estate agent as well as a contractor to see just how much it would make sense to put into the property.
Remember, it is really important to pre-plan the construction process; you don't want to overbuild and end up losing money on the investment.
Likewise, you don't want to make the wrong improvements that won't yield a great return compared to the amount put in.
A great example would be to either add a whole new bedroom and bathroom to a house by increasing the square footage, or just updating all the existing bedrooms and bathrooms.
You might find that adding square footage and the extra bed and bath would yield a greater return on your investment when you sell.
We can all agree that either way you look at it; it can be a little stressful.
Doing your homework and finding the right contractor will make all the difference.
Not only will they complete the job properly and on time, but they will stay within your allocated budget.
The whole process is actually a lot easier than you might think, especially if you use the right contractor.
The hardest part for most people is getting all the funds together to pay for the entire project.
If this part worries you, just remember that when you remodel, add square footage, or improve your home in any way you add equity to your home.
So whether you turn around and sell it after you remodel it, or hold on to it a bit, the house will be worth more.
I always like to compare it to a car, a car is a depreciating asset that no matter how much money you pour into it, it will never be worth more than you bought it for.
And every year the car will depreciate until its functional value is worth more that it can bring from a sale.
So with that being said, let's get back to the remodeling scenario.
There are a couple reasons why you may want to remodel or start a home addition project.
Either you are looking at it from an investment purpose or because you plan in living in the house and enjoying the new features, or perhaps even a bit of both.
If it is for investment purposes it is best to consult your real estate agent as well as a contractor to see just how much it would make sense to put into the property.
Remember, it is really important to pre-plan the construction process; you don't want to overbuild and end up losing money on the investment.
Likewise, you don't want to make the wrong improvements that won't yield a great return compared to the amount put in.
A great example would be to either add a whole new bedroom and bathroom to a house by increasing the square footage, or just updating all the existing bedrooms and bathrooms.
You might find that adding square footage and the extra bed and bath would yield a greater return on your investment when you sell.
We can all agree that either way you look at it; it can be a little stressful.
Doing your homework and finding the right contractor will make all the difference.
Not only will they complete the job properly and on time, but they will stay within your allocated budget.
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