Is Remodeling Your Home Worth The Cost

Dated: March 5 2015

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Ask These Questions for Your Home Makeover

Understanding your intentions for your house can go a long way towardshaping your remodeling plans. These are some questions toconsider:

How long do you plan to live in your current home?

Will you get to enjoy the results of your remodeling project?

Will the remodel meet an immediate but temporary need? Or be an investment in your lifestyle?

How old are you? What kind of income do youanticipate in the years ahead?

If you are close to retirement, is now the time to invest in home improvements?

How much chaos can you live with during the renovation process?

Does your house—the floor plan, the garden, the bathrooms, everything—work for you?

Will your home need a lot of updates? Will there be simple ways to update things like energy usage?

Remodeling and the Bottom Line

Can you get your money back when you sell?

The truth is you likely won’t get back the full amount. But there are moves you can make to ensure youinvestsmartly:

Hire an appraiser to find out how much your home is currently worth.

Research other nearby renovation projectsand how those homes sold after project completion.

Design aroundyour home’s architecture and character. Vinyl siding on a Queen Anne Victorian house will reduceits value. A three-season porch too hot to use in a Texas summer might not help thebottom line.

Consider your timeframe. If you’re only going to stay in your home another year or two, it’s probably not worth living with months of construction headaches.

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