19 Jan Deciding Whether or Not to Remodel Your Home
Making the decision whether or not to remodel your home encompasses a lot of different factors. Here are some of the main points to consider:
Do you wish to stay in your home for a long while?
Consider how you feel about the location of your home, your neighbors, and whether you think you may have to relocate for work or any other reason. Staying in the home long enough for the value to increase is optimal, but a lot of different factors could come into play with regard to market value increases, potential for relocation, a growing family requiring a larger space, and more.
Will a remodel project maximize the functionality of your home?
Consulting with a residential architect may be the best option, as they may be able to envision upgrade possibilities that you may not have even considered to get the most functionality out of the home.
Does it make financial sense?
This question should be answered for short term and long-term purposes. Many homeowners do not know exactly what they want, so sitting down with architects and a contractor to express your wishes and really narrow down the potential cost for materials and labor is crucial in deciding whether the project can happen or not.
How long will a renovation take?
Many people get excited about a renovation without carefully considering how long the project may take. Time to complete the project should actually being one of the most important things to consider. Particularly if the remodel is in the kitchen or another main room, it will require patience to live around the challenges that the renovation could bring.
Two more things to consider are whether the cost of the renovation will be earned back if you decide to sell at some point (some renovations are completely worth it while others are not at all) and weighing the fact that you could be over-improving the home based on the other homes in the area.
Whatever the case may be, it is a big decision, which deserves careful consideration.