Real estate improvements enhance the value of a property

Home improvements can be as simple as painting the exterior of a home to protect it from constant wear and tear or completely rebuilding it from near the ground up. There are many reasons why people need real estate improvements: to increase the value of the property, to increase the number of rooms, to make it green, etc. Real estate improvements can be extremely disruptive, especially if the family still plans to continue living in the home.

Sometimes a young couple can buy a small two-bedroom house with room to increase capacity. Initially, they can have only one child, and the house will suffice for their needs. If the family starts to grow with more children or even if the older parents have to move, the couple should definitely consider expanding the house to include more bedrooms and bathrooms. Before going into a remodeling process, they should sit down and consider what they hope to achieve with the renovations.

If it is necessary to add more rooms, they will need to get the expert opinion of a civil engineer who will study the structural plans of the house and see if the structure can support the construction of more floors. If so, can you give an estimate of how much it will cost and will need to get a permit. All real estate improvements, however small, are expensive, since the cost of construction materials and labor is very high. However, a couple may like the neighborhood they live in, especially if it has good schools, is safe for children to grow up in, and is close to their workplace.

In such a scenario, they may not consider moving but would prefer to remodel their home for their purposes. If they don’t have enough savings to do so, they should first consider how they will raise the funds and how much it will cost to pay them back. They can borrow from family members, close a savings account or opt for a home refinance. The latter option will involve monthly payments and the couple should budget to see if this cost can be added to their current expenses. If so, you can boldly go ahead and start your renovations.

Identify a good home contractor who is reliable, does a good job, is affordable, and has a good reputation for getting a job done on time. It is very important to get a good contractor, know in that particular town or city, and make sure that they will employ well-known workers. This is especially important if the family plans to continue living in the house throughout the renovation process. Family members need to feel safe with workers walking through their home. Also known workers will be trustworthy and will not steal any material.

Always make sure that a family member, say wife or daughter, is not left home alone during the day when work is done. The safety of children must also be considered in the workplace. Make sure all pits are covered, no sharp instruments are left lying around, and electrical cords are kept locked where children cannot access them. If major real estate improvements are being made, try to limit it to one part of the house and live in the other part. For example, if the kitchen is being renovated, you can eat microwaveable food for a few days or order takeout.

If you are planning real estate improvements to increase a property’s value, consider the following key areas:

• Outdoor improvements
• Appliance upgrades
• Bathroom renovation

The reasons these areas are especially targeted for a home is because buyers will first look at these locations to estimate value.

The exterior is the first thing potential buyers will look at when they come to inspect a property. So a freshly painted exterior with well-manicured fencing and a nice landscape can add value without costing much. New appliances are always expensive, so a potential buyer will see new appliances in the house as a great help, especially if it’s an older home. The bathrooms are the most used and one with new cabinets, bathtubs and showers will attract a buyer. Therefore, consider the reasons why you are planning home improvements before beginning any remodeling.