As the economy improves many homeowners are considering doing renovations to their home that were postponed for months or even years. Some renovations make sense. If you are selling your home, some of those renovations will pay for themselves by making your home more appealing for future buyers. Other renovations are not only costly, but can make it difficult for you to sell your home or getting the price you wanted.
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How to make smart home investments and avoid fixes that can fall flat.
According to the U.S. Census Bureau, Americans spent $130 billion remodeling their homes last year, 3.1% more than in 2012 and the most since 2007. Whether you’re sprucing up your home to sell or planning a reno for personal reasons, keep in mind the long-term return on your renovation investment. Here are seven do’s and don’ts for fixes that can pay off.
- DO: Install an energy-efficient steel door. Selling your home is all about making a good first impression. And first impressions start at the front door.
DON’T: Install a fiberglass front door. The higher cost won’t mean a higher sale price.
- DO: Add a spare room. Converting unused basement or attic space into an extra bedroom opens your home to exponentially more buyers.
If you’re considering new renovations for your home, particularly in the way of kitchens, bathrooms, or even wall units, bars, and custom cabinetry, an expert specialty design and home renovation company in Waterloo, Ontario deserves your attention.
The business is Custom Kitchens and the company provides everything you could possibly desire in the way of design consultation and installation services for home renovations.
Founded in 1973, Custom Kitchens has legitimate bragging rights for being able to renovate and install virtually any concept of a kitchen, which happens to be the business’s specialty. But the company’s extensive capabilities naturally extend to other home renovations and customer “wants” that make a home a home and increase its value!
There was a time, not long ago, when home renovations slowed to a trickle, with homeowners wary about making anything but the most essential fixes. Now, they are not only willing to spend, but to spend big.
Consider David Sinclair and Sandra Luikenhuis. The couple knew it was time to renovate two bathrooms in their Chestnut Hill house when water started leaking. But they used the opportunity to transform the dated bathrooms into sleek, modern spaces, finished with high-end materials like teak and quartz. The cost was significant: about $50,000 per bathroom.
“I never thought I’d like to hang out in a bathroom, but now I do,” said Sinclair, a professor at Harvard Medical School who has helped launch successful biotech companies. “We’re definitely in a spending mode right now, because of the stock market and the overall positive signs in the economy.”
The growing economy, rising home values, and low interest rates are giving homeowners the confidence and cash they need to raze walls, add rooms, renovate kitchens, build decks, paint siding, and spend on other projects to spruce up their homes.