Depending on where you live and the value of your home, there are many home remodeling projects that do not return the investment as expected. But, according to the magazine remodeling.hw.net attic insulation is one of the projects that the ROI is worth the expense. Who knew right? Many people in Northeast Ohio would probably agree with that assessment, but not many people think attic insulation when thinking about adding value to their homes. If you want to add value to your home, and see it, try adding a new garage door to your home. The recouped cost is above 80%, and you will probably get to enjoy it a bit if you are selling your home.
For more about adding value to your home by remodeling, follow the links below.
Going underground—and staying under budget.
Sometimes the cure for an undersized house is right underneath you. If you’re lucky enough to have a basement, transforming the underutilized space into a playroom, home theater, in-law apartment, office, gym, or some combination of these will likely cost about $20,000 to $50,000, says Highland Park, Ill. architect Christopher Turley—perhaps half the price of creating an equivalent addition upstairs. Here are four things you need to know if you’re considering this project.
Skipping a permit can be costly.
Refinishing the basement is one of those jobs that people often do without a building permit. Since the work isn’t visible from the street, the thinking goes, why not save the time and cost of the permitting process—and the tax increase that comes with an officially expanded living space?
One of the main reasons people renovate their basements is because they’re looking for more usable space. Whether you’re interested in adding a new game room, wine cellar or bar, a newly renovated basement can offer you ample space for many of your needs. But before you tackle such a project, bear in mind the challenges inherent in basement renovations. Here are some things to consider before you go underground.
1. Inviting elements. It’s difficult to draw people downstairs to a basement, especially when it doesn’t get a lot of natural light. It’s great if you can use its dimness and coziness to your advantage. Putting in elements that create atmosphere, like fireplaces or large flat-screen televisions, works well.
Next up in our new series, Renovations That Really Pay Off: basements! Sure, walking down rickety stairs and gazing into a dark, dank cellar might put you off the idea of dropping wads of cash to hang out there. For motivation to clear away the cobwebs, consider the fact that updating a basement could net you a 72.8% return on investment, according to Remodeling magazine—that’s higher than a rehabbed kitchen or bathroom!
But just how do you go about transforming your basement from a site that could get scouted for a horror movie to a comfortable rec room, stylish spare bedroom, or swanky home theater? Simply follow these renovation tips and expert advice for some ideas.
Assess its potential
First, spend some quality time in your basement and make sure it has potential. Signs you should maybe save your renovation dollars are “low ceilings, few windows, and a closed-in or poor layout,” according to Bruce Ailion of Re/Max Town and Country Real Estate Brokers in Atlanta. You just won’t be able to do much with that. But basements with a comfortably high ceiling and at least a couple of windows are fair game.