Completing house renovating tasks have traditionally been great for home resell value. However, the housing bubble collapse has made large house renovation tasks a calculated risk. In pockets of the U.S. where the real estate market is more favorable, renovating tasks can still provide good value for the cost. SmartMoney has a few ideas about where to start if you’re seeking to remodel your house. Source for this article – Home remodeling projects that are worth the money today by MoneyBlogNewz.
Spending to fix your kitchen
Today, kitchen remodeling is a $12.6 billion industry. After the 2009 housing bubble collapse, kitchen remodeling became something many people wanted to do. SmartMoney reports that $27,300 is what the average homeowner spends on kitchen remodels. Harvard University’s Joint Center for Housing Studies showed the amount spent on remodels is only 8 percent lower than the top of the housing boom, although there are ways around the high costs.
The higher quality work and wood doesn’t cost as much for some cabinet manufacturers. They’re eager to sell. Just ask about this. It could conserve you a lot of money. Unfortunately, the same cannot be said for hand-painted tile, as there is not the kind of backlogs that would necessitate driving down prices. A major tip SmartMoney offers kitchen remodelers is not to source materials directly from manufacturers simply to conserve cash. The potential for sizing error increases, which could force you to pay more for return shipping and repairs.
Bathroom has difficulties also
Even in a sluggish real estate market, studies indicate that bathroom remodelers recoup 53 percent of costs on average. Prices for high-quality granite have come down by as much as 50 percent since the housing boom years, in part due to increased competition from Asian and Brazilian rock quarries. There has also been a huge decrease in the porcelain sink market, Chinese import activity has caused it to decrease 50 percent also. Thus, high-end restroom remodeling projects aren’t out of the question.
SmartMoney suggests doing a spa shower in a bathroom project. One water hookup is necessary to get streams of water from various areas. It can be hard though if there are individuals of various heights using the water since the shower tower kits aren’t adjustable.
Have a better backyard
It might be worth your time and energy to redo your backyard also. This might end up benefiting you with more money after all is said and done. Deluxe grills, pizza ovens, refrigerators, warming drawers, wine chillers and cabana roofs have sold well during the recession, states SmartMoney. Costs have not changed with the rising demand. This is good news. The installation costs are down 20 percent or more. Homeowners know that landscaping negotiation is easy too.
A “hot tip” SmartMoney offers readers is to consider a gas fire pit instead of a masonry fireplace. Pits are often portable, which offers greater flexibility with décor. Not only that, but gas pits can cost thousands of dollars less.
Citations
Oprah
oprah.com/money/How-to-Make-Your-Home-Renovation-Pay
Smart Money
smartmoney.com/spending/for-the-home/3-renovations-worth-the-money-now-1302561618674/
Knowing when renovating your home is worth it
youtube.com/watch?v=zBSeQgJ1ANE
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