Glen Miller the Home Doctor is a professional in home improvement and handicap construction. He provides home renovations, handyman services and specialized handicapped remodeling throughout Livingston County, Washtenaw County and Oakland County. Glen is an expert in all fields of home upgrades for age in place renovations and various home upgrades including kitchen and bathroom transformations.
Thursday, May 5, 2016
Home Improvements That Pay Off
Certain home improvements yield a higher value than others. The first thing that comes to mind when going for renovations that increase the equity seems to always be kitchen remodels. More important than a new kitchen is those basic home maintenance items such as a new roof, updated siding, fresh paint, basically any renovation that keeps maintenance low and appeal high.
Sometimes home improvements are needed instead of wanted. As a handyman I have installed many new furnaces when homeowners dreamed of countertops of granite and showers that steam. Often times as a contractor I need to remind homeowners that reliable furnaces and dry basements are far more important than updated kitchens and luxury bathrooms.
As a handyman I talk to a ton of real estate agents, architects and other contractors. We all agree that buyers can’t get past a roof that leaks however can get over a kitchen that would seat more people with the addition of an island. Homeowners are more likely to recoup their investment with the addition of new siding. Replacing the siding recoups around ninety three percent of its cost, replacing the roof and windows return about eighty percent or more.
Home buyers often take basic home systems for granted. When an offer is put in on a home it is expected that when the inspector checks the home out that the roof will not leak, the plumbing works, and heating and air conditioning systems are in order. Basichome maintenance items will eat up a new homeowner’s budget quickly; in reality however they desire to use their financial resources to update the aesthetics of the home. Maintenance items within the home can quickly eat away at a homeowners updating budget quicker than quick.
If 2016 is the year that you are thinking of finally get to the home improvements you have been putting off here are a few things to keep in mind.
What are you going to get back on your investment? How does the value of your home relate to others within the area? If you live in a neighborhood where your home is already going for top dollar it is going to be difficult to get money back on any of your home renovations. Installing a ten thousand dollar garage addition to create a three car garage where two car garages are the norm may not be the best investment for your renovating dollars.
If homes in the area have only one bathroom it may not make sense to increase the number of bathrooms in your home. A bathroom renovation can cost anywhere between nine and twelve thousand dollars. Adding another bathroom to a neighborhood where one bath is the norm may not yield that expense in increased home equity.
It is important to understand that not all renovations are created equally. Handymen that tell you anything other than that are lying. Yes, you may want an in-ground pool but be sure that you know you may not get your money back out of the investment; be sure it is worth it for you. If the value you will receive from the renovation is greater than the amount you will be able to recoup go for it!