Home Remodeling the Right Way !   

Remodeling Your Home Can Save or Make You Money!

New home construction costs have soared, so the financial gains from remodeling existing homes are much greater than ever! Remodeling adds equity and therefore capital gains that can be deferred until the property is sold. In addition, tax laws have made remodeling even more attractive to the investor by limiting the tax write-offs allowed on new investment property. Remodeling, on the other hand, adds equity and therefore capital gains that can be deferred until the property is sold.

Nothing will Increase the Value of Your Home More than Cosmetic Improvements!

These remodeling improvements include interior and exterior, painting, new trim, new flooring, cleaning up of unsightly areas, landscaping, and other items that damage the appearance of the home. Most people's impression of a home are made in the first 5 minutes, and are always related to how the home looks and feels. 

Home Remodeling and Improvement Tips and Tidbits

Painting a House Inside and Out - colors... colors... colors... 
Remember... we told you how important just painting a house could be? Well, this is what a fresh paint does and why:

• Makes the home appear clean and fresh 
• Eliminates "old house" odors
• Cover patches and imperfections in walls
• Makes a room addition appear larger and brighter 
• Plus, remember... Try to choose exterior colors that complement the neighborhood and the period flavor of the house. Avoid interior colors that are too wild or bright. Allow accent pieces in the house to provide the bright colors.

Different Types of Remodeling

The Kitchen and Renovation
The kitchen has become one of the most popular renovation projects. Almost all kitchens in older homes are small and ill equipped for modern lifestyles. Minor kitchen remodeling can be quite cost efficient and entail as little as new floor coverings and painting of the cabinets. Many manufacturers now offer refinishing kits that replace only the face and doors of the cabinets, leaving the old shelving intact. Minor facelifts can brighten up a kitchen, but will do little to solve major space or functional problems.

Typically, a major kitchen overhaul will bring a greater return on investment than a minor face-lift. A major overhaul will allow you to add new and more spacious cabinets, solve traffic flow problems and lighten up the kitchen with replacement windows. If you are concerned a full face-lift is too expensive and may not return the full value of the investment, arrange with your contractor for you to do as much of the work as is possible. If your existing kitchen is out of date, consider the remodeling project a necessity.

Bathroom Remodeling
Recent trends are toward lavish and spacious baths. The two-bath house has become a standard. Adding a second bath to a home may not return its full value, but it eliminates a major obstacle if you ever decide to sell your home. This is true because buyers will be comparing your bath features to the ones present in new construction. Because of the high cost of tearing out old fixtures and installing new ones, consider doing some of the work yourself. Tasteful decorating and a wise choice of fixtures will also add to the general value of your home without costing a small fortune. Whenever possible, consider adding a bathroom to the master bedroom if it does not already have one. 

Room Additions - Worth the Investment, but be Careful
The value of a room addition will vary, depending on its use and the need for space. Look closely at the utility an addition can provide. If the addition adds a much-needed bathroom or bedroom, it can add significantly to the value of the house. Just make sure that YOU are not overbuilding for the neighborhood. Your addition may make your home the largest in the neighborhood. Sometimes a better choice is to open up the existing space by knocking out walls. Consult with a knowledgeable and professional contractor before attempting this conversion yourself because walls are load-bearing and cannot be easily removed.;

New Roof or Roofing Repair
Nothing will scare a prospective buyer away faster than an unattractive, leaking roof. If the roof is in poor condition, you may have no choice but to replace the roof. But don't expect re-roofing it to add much value to your house. The roof is one of those must do maintenance items. If you are not planning to stay in your house and are doing the remodeling only for a sale, then a stained or unattractive roof can sometimes be improved enough with a good steam cleaning. The same applies to gutters -- if they are in bad shape, their very appearance will hurt the value of your home.

Foundations - Foundation Repair Must be Done! 
The most important structural component of a house is the foundation. Structural problems here will be difficult and expensive to repair. Look for general deterioration - this may suggest that moisture or water has entered the basement or sub-floor. It is expensive to repair this damage and difficult to prevent from becoming a recurring problem. Check for uneven settlement in your home, which can distort or even pull apart the house frame. Uneven settling may have caused your windows and door frames to be pulled out of square, or it may have loosened the interior finish and siding, creating cracks that can cause drafts and heat loss. A minor settling problem can sometimes be corrected by re-leveling beams or floor joists. Widespread uneven settlement, however, may require a new foundation or, more critically, may make the house unsuitable for renovation. Be sure to check the joint between the foundation and the wood frame construction. If you find gaps of an inch or more, this may be an indication of significant settling - a danger signal that more severe problems exist. Further investigation is needed to determine how much remodeling may be necessary. If a prospective buyer catches wind of a foundation problem, they are likely to turn and run! So, if you have a foundation problem, get it looked at by a professional renovation contractor. Furthermore, selling your home or not, if you have a foundation problem -- get it repaired... They only grow worse with time.

Heating and Air Conditioning Systems
Heating and air condition systems should be inspected, repaired and installed by licensed contractors. Their systems are complex and closely regulated. A mistake here could be very expensive. Older heating systems might need to be upgraded to handle the load of new additions to the structure of your home. Old furnaces without integral air conditioning systems can lower the value of your home, even after a renovation. Upgrading to a new energy efficient heating and air conditioning system can increase comfort and save big on energy bills.

Replacement Windows
Your windows should be in good repair and freshly painted. If you need to replace any windows, make sure you buy ones that suit the architecture of your house. As the price of oil goes up and up, consider ones made out of vinyl (polyvinyl chloride) because they are durable, energy efficient and maintenance free – two qualities that rank high with homebuyers. Realtors estimate that you will get back 85% of the cost of your vinyl replacement windows when you sell your home.

Living with the Remodeling Project

Projects never go as smoothly as expected and invariably encounter delays -- plan for this and learn to live with it! Regardless of whether you do the work yourself or hire a professional, remodeling an occupied home can be challenging and dangerous. Be prepared for dirt, sawdust, interruptions of electrical and water service, noise and general inconvenience. Don't underestimate the psychological toll this will take on your personal life. Use the following techniques to ease the burden:

• Keep children and pets away from workers during the project. Encourage children to sleep over with their friends during the most intense part of the job. Isolate pets in a secure area such as a fenced yard or basement. Barking dogs will make subcontractors nervous and cranky.
• Cover all exposed furniture fully, using bedspreads or preferably plastic sheeting.
• Seal off other parts of the house from any construction area with plastic. This will prevent construction dust from entering the rest of the house. Gypsum dust created when sanding drywall is extremely fine and will work its way into everything in the house, including clothes in closets, stereo equipment, and computers.
• Provide a protected alley for construction foot traffic. Put up signs to direct the subcontractors. Cover the floor with strips of vinyl carpet protector.
• Arrange with friends or neighbors to use their facilities if water or electrical services must be turned off.