Homeowners who wish to improve the aesthetic and resale value of their homes- or even those who just want larger living space and a better lifestyle for their household- often opt to have renovations. Such renovations, however, can sometimes be costly and nerve-wracking, as they require constant negotiations with building material suppliers, compliance with local codes, and proper documentation of every stage of the project.
While renovations with the help of general contractors in Durham, NC can help increase a home’s value, it does not necessarily guarantee that homeowners will receive the same amount or greater for their return on investment. Nevertheless, it helps make the home easier to sell, especially a home whose upgrades offer functionality and include the latest trends in the interior department.
Home renovations need not be major upgrades; simple changes such as repainting or window replacements can already contribute to an increase in a home’s overall value. Having a swimming pool installed can either make or break the home’s value as it can bring about more expenses. Be aware of maintenance costs that your renovations may incur and be sure you’re ready to shoulder them until the time comes to sell the house.
For homeowners whose main purpose for having renovations is to resell their homes, they should take into consideration the different lifestyles of their prospective buyers. As mentioned, major upgrades are not necessary, as functionality is much more important. Like adding a swimming pool, you need to exercise discretion on adding more rooms or a garage (depending on the needs of potential buyers) to your home since they too can add up to the overall costs of home maintenance and affect the marketability of the house.
Prior to doing any kind of renovations, homeowners should evaluate their financial resources first and decide whether renovations are necessary or if minor repairs are enough to improve their home’s value. To that end, it is advisable to consult a professional general contractor in Durham, NC from firms like Prince & Sons, Inc. Doing so will not only guarantee profit from renovations, but will also help alleviate the stress that homeowners might experience throughout the project.
(Source: Bang on!: Best renovations improve livability, pay back slowly, lfpress.com. July 30, 2014)