It always starts with five words: “Let’s make the bathroom bigger!” Or, for the growing families out there: “Let’s build an additional room!”
Why Should I Remodel?
What starts out as a simple plan takes on even more value as the idea becomes a project. Whether you’re a dreamer or someone who gets anxious with change, everyone can agree that a finished project brings an overwhelming sense of accomplishment and joy as a homeowner. The sense of ownership and pride in improving your own home is often deeper than simply increasing the equity of your home’s future sale value. It’s about investing in what you already have.
As a matter of fact, studies show that over half of homeowners want to be home more simply after adding another bathroom! The satisfaction over their newly remodeled home soars as high as 90% after completely remodeling their kitchen. These remodels included new hardware like refrigerators and stoves, new floors, countertops, or cabinets. Let’s face it, a house feels like a home when food is involved; a kitchen remodel just increases the joy of being home!
Does Functionality Matter?
You often hear realtors talk about the functionality of a home. In a survey nicknamed the “Joy Report,” it was discovered projects such as adding a new bathroom increased a home’s functionality by 31 percent. Although projects such as a bathroom remodel or installation can cost anywhere from $35-60,000, survey participants report recovering over half the cost of the project. It’s not every day you pursue a project that gives you an equal amount of joy and worthwhile investment!
If you are looking to renovate your home in order to increase its selling price, projects such as updating your roof or replacing windows are two of the highest resulting projects which benefited the sale of the property. Replacing your roof in Kosciusko county can cost $7,500, however, realtors highly suggest this project is imperative to invest in a better selling price. Renovating your windows are just as beneficial in increasing your home’s sale price, despite the fact replacing all your home’s windows cost around $22,500 to replace.
What’s the Importance of Sweat Equity
Renovations are projects which are a good investment whether for your personal benefit or to increase the worth of your home. When justifying these home-owning goals, it is always a wise idea to weigh the importance of sweat equity. Your home’s value can be increased by how much work and labor you choose to put into those projects. Two of the most important things about taking on a sweat equity mentality is to work within your financial means and to always pay attention to details.
However, keep in mind the housing market in Kosciusko is moving quickly right now. If you’re starting a renovation project in order to prepare your home to sell, it’s always a good idea to hire an expert to assist you if you are doubtful you could treat the specific project as a DYI investment.
Renovating your home can become an invaluable investment for your future. If you live in the Kosciusko area and would like to discuss different ideas for which projects could increase your home’s value on the housing market, reach out to Kim Clark today!