If you have a home that just seems tired and dreary, there is nothing better than coming up with creative ideas for remodeling. Once a home reaches 20 to 30 years old and older, things start needing upgrading. This is the perfect time to make changes and have some fun with remodeling. Just keep in mind that the three basic rules you want to focus on include blending, spending, and overextending.
Be realistic. You want to remodel your home using its size and current value compared with other homes in the neighborhood. In other words, if the homes where you live have a Victorian architecture and average $200,000, if you put in $75,000 on remodeling to change the structure to contemporary, you have not done yourself any favors. Your home now sticks out from the other homes, which can be a detriment. Additionally, you now have the most expensive home in the neighborhood, which could take ten years for other homes to catch up. If you plan to live in the home for a long time, that may not be a problem but if you will only be there for 5 to 10 years, then while you have a beautiful home, you will not recoup the costs.
Have some fun mixing old with new. This means to take your current home and with more up to date materials, create a new look
Stay away from over-extending the finances and effort. To accomplish this, you need to be sensible. This means to do the work that you are qualified to do and hire professionals for things you are not qualified to do.
With any remodeling project, you need to weigh the cost of the improvements against the construction costs. Although it would be fun to do whatever you want, and you can, you should think about the future from a financial perspective. Again, spending $100,000 in remodeling on a home that will never reach that value is not a wise decision. In this case, you would be better off to purchase a new home or a larger older home to fix up.
On the other hand, by spending appropriately, you can remodel your home so that it will increase in value and be an even better investment. For instance, the following are excellent options of achieving just that:
Some options that could be beneficial but require a little more thought would include:
- Add a half or full bathroom to the main floor
- Update or completely remodel the kitchen. Since the kitchen is the most noticed room in the house, you can never go wrong by investing in the kitchen.
- Add a new fireplace to the main living portion of the home
- For older homes, removing asbestos and/or lead paint
- Siding � this investment is expensive but if done right, can be a good remodeling option
- New doors and windows
- Changing out the old bathtub to a Jacuzzi tub