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HOME REMODELING COST VS. VALUE | Is Remodeling Your House Worth It?

Is Remodeling Your House Worth It?

Are you planning to install a brand-new entry door? Go ahead and install it. You will get back your money; and even a lot more when you sell it. As for adding a sunroom, your house will not have a good resale value; in fact, you’ll be lucky if you recover your initial investment.

Home Remodeling Cost versus Value Report

Cost versus Value report is released to the public on a yearly basis by Remodeling Magazine. The magazine is a US remodeling industry survey responsible for comparing changes in job costs against Realtor’s perceptions of how the improvements affect the resale price of a home. While we should not initiate all the renovation works with the sole aim of enhancing our home’s resale value (till we find that particular species of money tree), we have must pay attention to the underlying factor.

cost-v-value-knoxville-remodeling-home-house-2Where you Live Matters

Your place of residence makes a lot of difference in the cost/value ratio of your home. For instance, if you’re lucky enough to reside in the Pacific Northwest, you’re living in the highest price/value ratio all of the country’s nine (9) census divisions. As a matter of fact, all the projects in the five (5) states that border the Pacific Ocean recorded an average payback of an impressive 74 percent in resale value. On the contrary, the Mid-Atlantic States recorded an average tending to 47 percent. What a huge difference!

Effect of Mid-Range Attic Bedroom

In addition to a new entry door, another huge winner in the Cost Versus Value (CVV) Report is the installation of a mid-range Attic Bedroom. It has a 103 percent return rate.

Effect of Spiff Installation

And, a little kitchen remodeling (referred to as a “Spiff”) provides yet another great way of adding value to a home. In the Portland region, such an improvement adds a 94 percent return.

Intangible Effects

The survey does not mention the intangible effect of a new bathroom, kitchen, or even whole house modification, particularly for inhabitants who are intending to spend several years residing in their home. If you can model a space to be your space, and space you enjoy spending time in, it goes without saying that your efforts will add value as well.

Why You Should Entrust Your Remodeling Projects to Us

Are you wondering what remodeling tasks will work for you? Our designers have everything it takes to help you choose the renovations worth your time and money. The best part is, sitting down and going over your home remodeling improvements will not cost you anything at all.

With Knoxville Remodeling Contractor everything is geared towards helping you get a huge return on your valuable investments!

 

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5 Questions to Ask Before You Remodel Your Home

kitchen-remodeling-dreams-2It is almost inevitable that there will come a time when you will need to remodel your home. The renovation project will most probably give your home a nice new look. However, home improvement is not such a simple task; it requires you to dedicate some time, effort and cash to achieve your objectives. Therefore, we have researched about several questions that you need to ask yourself before embarking on this task; below are five of the most crucial ones.

1. What Is My Financial Plan?

Having a good budget will not only prevent you from running out of cash and ending up with an incomplete project, but it will also help you buy only what is needed so that you will not waste your money on unnecessary items. Therefore, consider researching on all the expenses you will incur and then collect bids from home builders; then select the one whose charges suit your needs.

2. For How Long Will I Be Staying Here?

Knowing with precision the duration you will spend in your home before relocating helps you make a decision on the type of remodeling you will apply. If you plan on living in this home permanently, you can go for long-lasting structures such are bricks; your renovation investment can also be justifiably big. On the other hand, if you plan to stay in the home temporarily, it would be better to invest less in your renovation project.

3. What Kind of Remodeling Do I Intend To Do?

There are several types of renovation projects; for instance, rebuilding, decoration, repair and maintenance. Do you plan to repair broken sinks and bathroom handles? Do you intend to change your ceilings? Do you want to partition your house? Or do you intend to plant a garden? – These are just some of the most popular home improvement options. Consider your own purpose for renovation.

4. What Is The Return On My Investment?

Consider what value you will get in exchange for spending resources on your home improvement project. There is no need to spend a lot of money and time on a project that adds no value. In the light of this issue, consider on concentrating on quality rather than quantity; let your renovation contractors understand this.

5. Are There Things I Can Do On My Own?

If you are good at something like painting or handy jobs, consider doing them on your own; leave what you are not good at to the professionals. This will help you cut cost and keep you active.

Conclusion

Upon considering the above questions,  Give us a call and here you will discover great services at very reasonable costs.