Each cent spent on home improvement should be worth it. You need to be well planned about each improvement you make on your home. According to a statistical survey, for every US dollar you spend on home improvement, the value of your property appreciates by 70 cents.
When you have given work to a contractor, never pay the entire amount upfront. Pay the contractor in phases as the phase of a designated job gets completed. This way you will not be cheated when you go for a home improvement or remodeling task.
There are many home renovation options available. The most preferred ones are those which give the investor more returns on their investments. These area upscale siding replacement, addition of wooden deck, kitchen remodeling, replacement of windows, bathroom remodeling (mid range), remodeling attic into a bedroom, finishing work for basement, adding a second room, construction of garage, etc.
The renovation work on your home can be classified into minor, mid-range, and major investments depending on the cost of the task. Changing the flooring, tiling work, shower doors, etc would come into minor renovation works. When you are remodeling the bathroom, this could be called a mid-range renovation. Renovation that makes a style statement, like building a pool and outdoor kitchen or a fire space, goes under the category of major renovations. The important thing that you have to keep in mind while having home improvement is to make your home more energy efficient, beautiful, and comfortable. Make sure that your way of living in your house is a more lively and enjoyable.
If your home improvement idea revolves around the idea of a resale, take into consideration your neighborhood when you go for a major remodeling idea. Unless you live in neighborhood of million dollar houses, you want to rein your ideas for a 6 figure remodeling. An investment that increases the square area of your home is a good investment on price. Such kind of investments adds value to your home.
Remember, when you build a pool, it is just the beginning of the many additional expenses. Add the maintenance cost of each addition into your budget and take into consideration the cost of labor, the price of materials, etc.; when you are preparing budget for a remodeling idea. You can create a budget based on room by room or job by job.
Renovation experts suggest that fuel efficiency and energy savings should be on top of the agenda when you are deciding on home renovation. This is a good way to reduce your energy bills. The other idea that most people include is the security measures. This is a necessity and provides good return on an investment.
Stop yourself from exotic decorations on your home. If you are planning to move away or relocate in a few years, say a year or so, don’t go for big budget renovations; instead invest small amounts to keep the property looking new and well maintained. Garden improvement is the improvement which attracted the least amount from home owners statistically.
If you are planning for a home renovation, there are various lenders who will provide you with the money for home improvement. Check with a host of lenders to know various rates of interest and amounts before you zero in on one.
By: Mary Deoquino
Posts Tagged ‘Renovation Work’
Which Home Improvements Add the Most Value?
January 3rd, 2010Home Improvement Tips to Increase the Market Value of Your Home
November 25th, 2009
Whether you plan on selling your house or simply want to improve your home’s functionality, there are certain home improvement projects that automatically increase the market value of your home.
One such improvement is kitchen remodeling. Key features to remember when remodeling a kitchen is adequate floor space, appliance placement for greatest meal preparation convenience and ease of mobility, and adequate storage space.
Kitchen Renovation / Kitchen Remodeling
The most common reasons people have for kitchen remodeling is: to upgrade materials, appliances, and fixtures, provide more floor space to accommodate more people in the kitchen at one time, and provide extra space so family members have a place to eat.
Replacing old kitchen cabinets with solid wood – whether oak, cherry, or even something less expensive like pine, and kitchen counter tops is a great way to increase the kitchen’s appearance and usability, as well as the market value of your home.
As one of the most expensive elements of kitchen remodeling, make cabinet selection carefully. Cabinets will have either dovetail or butt joints. Dovetail joints generally last longer. Cabinet draw bases should be mounted on quality glides.
If your kitchen is large enough and layout compatible, the addition of a peninsula counter would provide additional counter top work space. Extra cabinetry over the peninsula would provide more household storage space, as well.
Bathroom Renovation / Bathroom Remodeling
Another common renovation project that increases the market value of a home and makes it more functional is either the addition of another bathroom, or remodeling of an existing one. Like kitchen remodeling, bathroom remodeling most often requires the services of a professional contractor.
It is important to have detailed plans and know exactly what type renovation work you want before starting the project, so that code compliance laws are met and necessary permits obtained. Otherwise, work may have to be torn out and redone; high penalty fees and even imprisonment could also result.
Types of work that require permits include plumbing, electrical, HVAC, and new structure building. Depending upon project complexity, you might require the services of a professional designer in addition to those of a contractor.
Before beginning work, you will need a “material take-off list.” This is a list of materials needed to complete the job. The contractor usually provides the take off list. But if you are handling all or the majority of the renovation work yourself, you will need to prepare one.
Be specific when making your list. Instead of just a lavatory, specify the type. Pedestal lavatories can cost over $300, while a simple wall-hung model can cost under $70. Designer toilets can cost over $1,500 while a standard two-piece model will cost under $100. Shop around for the best quality, at the best price for your budget.
Plan your project months, instead of just weeks, before renovation work is to begin. This will give you ample time to take advantage of online resources that offer more competitive prices for materials, and qualified professionals to complete the project.
Wall Paneling
Wall paneling is another popular home improvement project. Paneling nearly any room of the house with quality, real wood paneling improves appearance and increases market value of the home. If you’re a “do-it-yourselfer” the following handy tips will insure perfect paneling results:
1.) Once you get your paneling home, allow for a period of adjustment. This is because paneling tends to shrink or expand with the changes in humidity. Let the panels adjust to their new home by separating the panels and stand each one up in the area where you plan to install it; allow them to rest for 2 or 3 days before installation.
2.) The key to perfect paneling is in the first panel; get the first panel straight and the rest will follow suit. To do this, align the first panel against a corner; tack it in place with a small nail centered at the top. Using a level, make sure the panel is plumb. If it doesn’t fit snugly against the adjoining wall, use a compass to scribe the panel edge next to the wall. Copy the slant of the wall onto the panel; remove the panel and trim to fit.
3.) Regardless how careful you are, it is inevitable that some panels will have visible space between them. Walls darker or lighter than the paneling will be obvious. To correct this problem use a can of spray paint close in color to the panel joint to spray a 2-or-3-inch strip of the wall between each seam before installing the panels.
4.) Paneling only mildly warped and ¼ inch or less thick can still be mounted successfully using both panel adhesive and paneling nails. Thicker paneling that is badly warped should be returned.
5.) Block walls with studs or furring strips should first be covered with wallboard before mounting paneling. Not only is this a fire safety measure often required by code, but walls will be stiffer and more substantial, without bowing or warping.
6.) To help camouflage nails in paneling, place them on a natural blemish or darker line of the grain pattern.
Other Remodeling Projects
Less costly home improvements that help increase the market value of a home include the addition of an indoor wall fountain as part of the room’s décor. They cost anywhere from $350 to $4,000 on up. A large quality rock, granite, copper, or glass fountain inserted into the wall becomes an impressive, eye-catching focal point.
Indoor water features like wall fountains add moisture to the air, help block out unwanted outside sounds such as those coming from neighbor’s yards and traffic, and add therapeutic atmosphere to the room.
Vinyl floor tiles are another way to improve a room’s appearance and market value of the home. Whether replacing a whole floor or replacing just the damaged tiles, do-it-yourselfers might find the most difficult part of the job is removing old tiles already in place. Using heat will help soften both the adhesive and the tile, making it easier to pry up using a putty knife.
Simply cover the tile to be removed with a cloth. With an iron set on medium heat, iron the cloth using slow, even strokes. If heat doesn’t remove the tile, use cold. Place a covered piece of dry ice on the tile (do not touch the ice directly). When the tile is cold enough, a sharp rap of the hammer should shatter it, for easier removal.
Summary
Before starting on any home improvement project, carefully consider project costs verses enhancement of family use, improved appearance, and increased market value potential to your home.
Plan your project carefully in advance, with plenty of time to shop around for best prices and selection of materials – as well as qualified contractors and other professionals to help get the job done right!
Be sure project meets building code requirements, and all permits are obtained before beginning the project. Plan well within your budget with funds to spare for unexpected expenses. All ingredients that help to insure project success!
By: Max Sheppard
Home Improvement Contracts – Do You Know What You’re Signing?
November 24th, 2009
Contracts are all about money. In today’s litigious world if you’re planning any kind of renovation work you better have comprehensive home improvement contracts. The same goes for the contractor you better have a contract that is legal and protects you too. You also need to understand how to write a contract because the contract is a part of you every step of the project even after the job is done and you are paid.
Every project starts out the same. The client is excited about their new renovation and the contractor is excited too have the job. I think it’s a period of fantasy. There are certain expectations (or fantasys) on behalf of both parties.
The contractor thinks “this is a great client, great project with lots of profit”. The client thinks “I’m lucky to have found this contractor, he’s the best and his price is great, all those stories my friends have told me, well it’s not happening to me, I’m smarter than them.”
Anyway the contractor gets the residential construction contracts signed and deposits the deposit right away. He’s thinking,”i can’t wait to get started”. This could be mistake number one. In some states there is a 3 day rescission period. The contractor has violated contract law if he deposits the check before the 3 day period. (every state is different) When time for final payment if the client doesn’t pay and it goes to court the Judge could throw case out. Sorry Mr. Contractor you breached the contract, tough luck you deposited the first check to soon.
It can work both ways. Lets say the contract stipulates that the client must provide water, heat and light. Contractor shows up to get to work on a flooring job. He brings 3 guys and materials. Guess what? The plumber turned off the water, had to run out to get a part, stops for coffee, another client calls, needs him for a minute which turns into 3 hours. So what is flooring guy supposed to do? Eat the expense of waiting around, delaying the job a day, jeopardizing another job because of the plumber?
If it’s in the contract, the flooring guy isn’t going to eat it. Either the owner or GC will have to shell out some extra money. The flooring guy better have a change order ready to sign. If you have a solid contract with the plumber he’ll have to eat it, if you don’t you know who is losing. That could be a $1,000.00 issue, maybe more.
Now the fantasy is turning into reality. Happy homeowner is now upset and contractor/s are in a pretty foul mood too. The winner is the one with the best contract. The floor guy could walk off the job with the owners money unless problem is settled right then and there. Take the flooring guy to court, good luck, you breached the contract. No water.
Variations of this scenario happen every day. Contracts are overlooked and just signed. In the beginning everyone is well intentioned. The contractor wants to get paid for his service. When Mr. Contractor starts working for free his enthusiasm plummets. Frequently what Mr. Contractor sees as free work the client expects as part of the service. Unless discussed and agreed to in writing up front there will be problems. Everyone has a different perception of what’s fair.
It all comes down to the contract. And what is a contract? A service for a fee. Both parties need to have a firm understanding of the contract or it will cost someone. It’s also critical to understand the law in your state. Before entering into any contracts make sure you know what you’re signing. That goes for both parties.
A critical part to a contractors business should be having a legal advisor and knowing the laws that pertain to the business. Too bad for you if you don’t. If you are the client it’s advisable to have an attorney review the contract before signing. Shame on you if you don’t know what you’re signing.
By: Edward Winslow