Remodeling Basics

Whether you bought your home to live in or are going to rent it out, you want to prioritize how you spend any dollars to remodel your home. It’s always important to think of the impact your remodeling job will have on your resale value even if you have no plans today to sell. Eventually you will and you will be glad you thought about these factors: Overall building a better kitchen, bath or bedroom and living by the mantra “bigger is better” for these rooms will give you the most return on your money. The reason why is these rooms are where homeowners spend most of their time therefore they value these spaces more than others in the home. In the latest Cost Vs. Value Report by Remodeling Online over 300 real estate professionals responded from 60 markets nationwide. On the average nationwide, kitchen and bath remodels along with second-story, bath, family room and master suite additions were rated tops. Experts say newness and spaciousness are key. From a minor kitchen remodeling job’s return of 88 percent to a 71 percent return on both a major kitchen remodeling job and a master suite addition, here’s a look at what gives you the top five best returns for your money.

Curb Appeal
Curb appeal is the impression your home’s exterior conveys. It should create an emotional desire to own the home and to live the lifestyle and status it represents, which hopefully continues inside. Curb appeal is what gets the prospective buyer inside to see your new master suite and remodeled kitchen and bath.

Remodeling to Existing Standards
If most of the homes in your neighborhood don’t have a second story and you add one, the neighborhood could drag down the value of your home. If however, you rip out the old kitchen and put in a new one, your home will sell faster and at a better price than comparable homes with the original kitchen.

Quality Work
Ask family, friends, co-workers and others you trust for referrals to licensed contractors specializing in the work you need completed. In states that don’t license contractors, seek those with strong association ties and proof of insurance.

Finding a Contractor
Interview several contractors and don’t just go with the one with the lowest estimate. Often times they don’t have enough capital to do the job and will leave you hanging. Also get everything in writing and never commit to a verbal contract. Reputable contractors will give you lots of references from homeowners they have successfully completed quality remodeling jobs with.

Good luck!

Signature Realty Services has been making successful real estate deals in the Florida marketplace with buyers and sellers at all levels for over four years. Our business continues to grow and flourish despite the challenges the real estate market has experienced. Our clients can consistently count on us to find the best deals, close on those deals and get the property ready to rent or resell.

To learn more about real estate investments, short sales and foreclosures in Broward, Dade, or Palm Beach, contact us today at info@srealtyservices.com or follow us on instagram @srealtyservices

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