Remodeling Your Home: How Much Is Too Much?

Home
>
Home Improvement
>
Remodeling Your Home: How Much Is Too Much?

Remodeling Your Home: How Much Is Too Much?

The classic way for homeowners to increase the value of their house is by remodeling existing rooms or adding on to its current plan.

Some choose to build recreation rooms and studies while others add new appliances, fixtures and cabinets to enliven rooms and make their home more attractive to future buyers.

But, when should you decide to stop sinking money into a home and buy a bigger place? And how much rehab is too much when it comes time to recovering remodeling costs through a home sale

For instance, if you've just spent $1,000 remodeling your living room and didn't expand your small bathroom, the chances of increasing the number of interested buyers are slim.

With these concerns in mind, I can offer a few tips for those struggling to add value to their home.

First, always protect the character of your home. Nothing sticks out more than a new addition that is in a completely different architectural style. Be consistent. Recognize your home's character and stay within its framework.

The most financially rewarding areas to remodel are usually the kitchen and bath. Newly re-done cooking spaces and cabinets can attract more buyers and may command a slightly higher price for the home than a comparable one on the market. Simple repairs that are made to last will bring you the biggest returns upon sale.

Enlarged bathrooms are the most popular attraction for new home buyers, according to the National Kitchen and Bath Association. Today, the most popular additions for younger buyers are sunken whirlpool baths and showers. But be sure to install modest, solid amenities. It's easy to quickly over-spend on bathroom fixtures.

Buyers are, by convention, more interested in above-ground living space ? not basements, yards and walkways. Swimming pools can be a poor investment if installed for the sole purpose of increasing a home's value; it's rare that a pool's cost will be recovered in a home sale. It can also be a negative feature for potential buyers with very young children.

Replacing worn carpeting, tiles and wood floors can give your home an immediate advantage over similar properties in the area. Updating paint colors in all areas of your home can also prove beneficial.

However, it's recommended that you use neutral colors, such as gray, beige and off-white when adding new floor and wall coverings. Fewer buyers will then turn away because of differing tastes.

Stay simple with your remodeling and look at your home as though you were the buyer. Chances are that if you find the upstairs bedroom could be brightened by a larger window, potential buyers will probably feel the same.

Don't go overboard. Concentrate on improving two or three deficiencies in your home. More than likely, the time and money you spend adding quality to your home will be rewarded with greater profit at selling time.

About The Author

W. Troy Swezey is the author of "REMODELING YOUR HOME: HOW MUCH IS TOO MUCH?" As a Realtor at Century 21 Paul & Associates, he has helped many individuals with their real estate needs. Visit his web site to download his free e-book, "REAL ESTATE SECRETS EXPOSED." http://www.TroyIsMyRealtor.com or mail to: TroyC21@usa.net

In The News:

Yahoo! News: Top Stories

Gaza fighting rages despite cease-fire proposal (AP)

AP - Israel resumed its Gaza offensive Wednesday, bombing heavily around suspected smuggling tunnels near the border with Egypt after a three-hour lull to allow in humanitarian aid. Hamas responded with a rocket barrage.

Obama taps spending watchdog, eyes Social Security (AP)

AP - Pointing with concern to "red ink as far as the eye can see," President-elect Barack Obama pledged Wednesday to tackle out-of-control Social Security and Medicare spending and named a special watchdog to clamp down on other federal programs even as he campaigned anew to spend the largest pile of taxpayer money in history to revive the sinking economy.

Senate Democrats yield to Obama, retreat on Burris (AP)

AP - Senate Democrats beat a hasty retreat Wednesday from their rejection of Roland Burris as President-elect Barack Obama's successor, yielding to pressure from Obama himself and from senators irked that the standoff was draining attention and putting them in a bad light. Burris said with a smile he expected to join them "very shortly."

Melting snow causes heavy flooding in Wash. state (AP)

AP - Rain and high winds lashed Washington state Wednesday, causing widespread avalanches, mudslides, flooding and road closures as the heavy snowfall that has buried parts of the state began to rapidly melt.

Obama hails 'extraordinary' moment with presidents (AP)

AP - Confronting a grim economy and a Middle East on fire, Barack Obama turned Wednesday to perhaps the only people on the planet who understand what he's in for: the four living members of the U.S. presidents' club.

Feds say inauguration attractive terrorist target (AP)

AP - The upcoming inauguration of Barack Obama is an attractive target for international and domestic terrorists, but U.S. intelligence officials have no information about specific threats to the Jan. 20 event.

Drug made from genetically engineered goats may become scientific first (AP)

AP - You've heard of making cheese from goats' milk, but prescription drugs? In what would be a scientific first, an anti-clotting drug made from the milk of genetically engineered goats moved closer to government approval Wednesday after experts at the Food and Drug Administration reported that the medication works and its safety is acceptable.

DeGeneres wins at People's Choice Awards (AP)

AP - Ellen DeGeneres and "Dancing with the Stars" were early winners at the People's Choice Awards.

Lin leads Harvard to 82-70 upset over No. 17 BC (AP)

AP - Jeremy Lin scored 27 points to lead Harvard to an 82-70 upset over No. 17 Boston College on Wednesday night, three days after the Eagles upset previously top-ranked North Carolina.

AP source: Browns to hire Eric Mangini as coach (AP)

AP - Eric Mangini is the new head coach of the Cleveland Browns, a week after being fired by the New York Jets. A person with knowledge of the negotiations told The Associated Press that Mangini will be introduced Thursday at a news conference at the team's headquarters in Berea.

Israel bombards Gaza, U.S. backs ceasefire plan (Reuters)

Reuters - Israeli warplanes bombed the Gaza Strip on Thursday and tanks pounded Palestinian guerrillas on the ground as U.S. backing for a proposed truce raised expectations of an end to the offensive.

Budget deficit to hit $1.2 trillion in fiscal 2009 (Reuters)

Reuters - The U.S. budget deficit will swell to a record $1.186 trillion in fiscal 2009, congressional forecasters said on Wednesday, the result of an economic recession that has cut tax receipts and caused massive government bailouts of banks and automakers.

Senate Democrats move to seat Burris (Reuters)

Reuters - In an abrupt switch, Democratic leaders began talks on Wednesday to swear in Roland Burris, appointed by embattled Illinois Gov. Rod Blagojevich to replace President-elect Barack Obama in the U.S. Senate.

Union gears up for negotiations with GM and Chrysler (Reuters)

Reuters - United Auto Workers bargaining teams are arriving this week in Detroit as the union gears up for negotiations with General Motors Corp and Chrysler LLC, which are mandated to cut labor costs under a $17.4 billion federal bailout.

Mumbai-like attack could happen in U.S.: Bush aide (Reuters)

Reuters - U.S. cities are vulnerable to an attack like the gun-and-grenade assault that terrorized Mumbai for three days and killed 179 people, the White House homeland security adviser said on Wednesday.

"Enemy combatant" will be early test for Obama (Reuters)

Reuters - The case of Ali al-Marri, accused of being an al Qaeda "sleeper" agent and held for 5-1/2 years at a U.S. military prison in South Carolina, will be an early test for President-elect Barack Obama.

Salmonella outbreak sickens 388 across U.S.: health officials (Reuters)

Reuters - An outbreak of salmonella food poisoning has made 388 people sick across 42 states, sending 18 percent of them to the hospital, U.S. health officials said on Wednesday.

U.S. presses to jail Madoff on diamonds, watches mail (Reuters)

Reuters - Accused swindler Bernard Madoff should be jailed for violating a court order by mailing $1 million worth of diamonds, watches and other jewelry to friends and family, U.S. prosecutors told a court on Wednesday.

Lenovo to cut 2,500 jobs amid global slowdown (AFP)

AFP - Chinese computer giant Lenovo announced Thursday it would cut about 2,500 jobs, roughly 11 percent of its worldwide workforce, after suffering losses due to the global economic crisis.

Israel approves tougher war on Hamas (AFP)

AFP - Israel on Wednesday approved an even tougher war on Hamas, warning residents to flee southern Gaza ahead of planned bombing of cross-border tunnels, as the Palestinian death toll passed 700.

Remodeling Your Home: How Much Is Too Much?

Home Improvement Home Improvement