Whether you’re remodeling for your own enjoyment or to increase resale value, design and product selection are key. It’s also important to work with a builder that will obtain the appropriate permits and adhere to local building codes. Choose someone that keeps your style and needs in mind while keeping costs down and your return high.
Even if you plan on living in your home for the rest of your life, you never know what life change to expect next, so keep the resale value in mind when you make changes especially with remodeling.
Gopal Ahluwalia, director of research at the National Association of Home Builders, “You have to think in the back of your mind that you’re going to have to sell someday.”
You should choose cabinets, countertops, and floor that are classic in style and neutral in color. If your builder also custom designs, ask them what trends are current and what they can expect to remain up-to-date for years to come.
The longer you live in your home, the more likely you are to recover your expenses. With home prices slowly rising, the increase in property value will eventually absorb the costs.
In order to maintain a competitive home value, you should ensure that the cost of remodeling doesn’t add so much of a price increase in your home that it never sells. You don’t want to have to price your home so much higher than surrounding homes and run the risk of not selling or have to take a loss just to keep your home competitively priced. While you always want to remodel with your home value as high priority, choose a style and room that you and your family will continue to enjoy daily and will make your living space efficient and more pleasant.