Remodeling & Adding Value to Your Home
Is It Time To Remodel Your Home?
When you are planning to remodel any part of your home, you have to think about two things. First, will the remodel add to your use and enjoyment of the home? Second, will the remodel add to the value of your home? Ideally, the answer to both of those questions will be yes. However, sometimes you want to change something about your home that will not increase the market value, but that will add value to your everyday use of the home. In those cases, you might still choose to do the renovation. Likewise, there are some remodeling or renovation jobs that may not increase your use and enjoyment but might really improve your resale value. Knowing the answers can help you decide whether or not to tackle a home improvement.
You may not think of a fence as a value-adding. Your ROI will be about 60% of the cost of the fence. So, if you do not want or need a fence, it may not be worth the investment. However, that 60% ROI makes a fence a valuable investment if you will use a fence. Some of the top reasons people give us for wanting fences include pets, children, and pools. However, good fences also make good neighbors. Many people enjoy fences because the let them enjoy their yards in privacy. If you want a fence, the increased use and enjoyment you get will probably more than make up for the lower ROI.
People love these additions to living space. Repairing an existing wooden deck can provide up to a 600% ROI. Adding a new deck only results in about 66% ROI, but it can add to the utility of your yard. Given that decks are relatively affordable, even a few years of enjoyment more than makes up for the lower ROI.
These highly sought after improvements offer a great ROI. You can see up to 200% ROI on a well-thought-out outdoor kitchen. Design it around your grill and include plenty of counter space and people will love it. Cover the kitchen and it becomes usable almost year-round. However, carefully plan what you add to it. People want functional kitchens but may not value specialized items.