Home improvements can provide serious improvements to the comfort and convenience of any property. This work can also create additional value, increasing the worth of your home and giving you more power to either sell your property or take money out against it for future financial needs. Many people these days are excited about the prospect of remodeling their home and creating considerable improvements, but often do not consider the total value of their efforts before getting to work. Planning your home remodel properly can help you to achieve the absolute best outcome for your goals, and our home remodeling contractors are here to help!
Detail Design & Remodeling is proud to North Georgia’s trusted home improvement company, relying on our old-world craftsmanship to deliver beautiful results that bring your vision to life. We specialize in cabinet refacing services across the Atlanta area, but our team is happy to help you with every element of your home remodel to achieve the most satisfaction and value.
Today, we’ll highlight five key components to keep in mind in order to increase the value and effectiveness of your remodeling project. These projects can become costly, so be sure to contact us when you are ready to see how effective and affordable our services can be!
It’s important to focus on what your home needs when planning your project. We all want a marble countertop to match our mahogany floors, but certain high-quality finishes may not return the most value of other parts of your home design are out of date or in poor condition. Many homeowners achieve success by looking for the best ways to increase the quality of their home, creating the highest return on investment (ROI).
Replacing your entry door, for example, will likely return over 90% of your initial cost. Kitchen remodels that increase versatility, upgraded garage doors, and more are all highly rated in returns, and can do much to ease financial stress for both homeowners planning on selling and those staying for the long haul.
BALANCE EACH ROOM’S VALUE
One rule for home remodeling is to balance your spending for each room based on the home’s. Putting all of your resources into one room while neglecting the rest of the house may look strange, and it may also result in a lower ROI. One rule of thumb is to follow a percentage system to begin forming the upper limits of a budget for your space in relativity to the property value:
- Master bedrooms — 10%
- Secondary bedrooms, dining rooms, and living areas — 3%
- Decks, patios, and exterior improvements — 5%
- Finished basement — 15%
- Bathrooms — 5%
- Kitchen — 15%
Each home is unique, meaning that these value maximums are frequently subjected to change. Contact our team to learn about the best way to balance your home remodel!
KEEP YOUR NEIGHBORHOOD IN MIND
Unlike like how one eyesore on the block can impact the resale value for everyone else, one luxuriously upgraded property in the neighborhood will not make a big enough difference in the area’s value to be worth the costs. Installing high-quality fixtures can improve your space, but remember that your home’s value will be weighed by comparable homes in the area.
Curious about the best way to create value in your home? Contact our home remodeling contractors for complete assistance!
CREATE APPEALING SPACES
One of the best ways to ensure a valuable return on your home remodel is to tailor your space to what a majority of buyers will want. Highly specialized renovations can make your property unique to you, but these unique elements can turn away potential buyers, impacting the overall home value. Try to focus on popular home features that buyers will look for, such as hardwood floors, plenty of natural light, neutral design colors, and more.
CONSIDER YOUR FINANCING OPTIONS
How you finance your home remodel will play a large role in how affordable and profitable the results are. Most homeowners do not have 15% of their home’s value saved up, and will require financial services to get the job done. Owning your property gives you a number of options for how to continue, whether you want to take out a home equity loan leveraging the equity you have earned thus far, a value-added loan that utilizes the increased value of your home after improvements for better interest rates, or the option to take out a loan that focuses on income rather than home value.
Ready To Start?
Home remodels are valuable because they can provide more comfort and convenience for families. When executed correctly, these improvements can also return considerable value and may even prove profitable over the years. If you’re ready to get started, our home remodeling contractors in Dunwoody are here and ready to help!