Upgrading your home with a remodeling project will make it more valuable, right? Not necessarily. Not every remodel will bring you the kind of return on your investment you’re looking for. Before you commit to making expensive improvements on your home, make sure you’ve done all your homework to make sure it’s going to be worth your time and money.
What to Consider Before a Home Remodel
You’d hate to sink a lot of your time and/or money into a home improvement project and not see any return on it. Here are 5 questions to ask before committing to a home remodel:
- Are you moving soon? If you’re not going to be putting your house on the market any time in the next five years, chances are you won’t get what you put into your home remodel. Over that time, styles change as well as what buyers want. If you’re staying put, make sure your home remodel is something you will enjoy living with.
- Can you do this yourself? The popularity of home improvement shows on HGTV, and other networks have made remodeling projects very popular. Unfortunately, some of these shows make these projects look easier than they actually are. If you’re looking for your home, remodel to pay off, quality counts. Bring in a pro if you have any doubts about your ability to produce a top quality home improvement.
- Does this fit with your neighborhood? Even if your home improvement raises the value of your home, if it puts your house out of line with the others in your neighborhood, you could wind up losing money. Few home buyers want to purchase the most expensive house in the neighborhood. That makes a future resale tougher for them, too. So don’t remodel your way out of your area’s price range by adding on rooms or extra features.
- Are there any financial incentives for my remodeling project? Believe it or not, the government might be able to help you pay for your home improvement project. If your project is considered “capital improvement” and not a repair, you could be eligible for tax deductions based on the cost of your project. Check with a financial representative to see what your options are.
- Is this the right project? Some home remodeling projects return the investment much better than others. As a rule, the bigger projects (room additions, patios, pools, etc.) earn back around half of what they cost to complete. Some smaller, less expensive projects, however, have a much higher rate of return. Adding attic insulation, replacing the front door, and putting in new windows might get you anywhere from 75 percent to over 100 percent of your investment back upon resale.
Penny Window Can Help You Add Value to Your Home
Our team at Penny Window has been serving St. Louis and St. Charles County since 1953. Besides windows, we can help you with doors, siding, and gutters, too. All of these make your home more attractive, help lower energy costs, and bring big returns on investment when you put your home on the market.
Because we are a locally-owned, family business, they provide the personal service that’s been satisfying customers for over 60 years. We stand behind all of our quality products and provide customer support that doesn’t end when the project is finished.
Ensure your home remodel project returns maximum value — download your guide to shopping for windows and doors, check out our extensive line of products, and give us a call to schedule your free estimate: