StumbleUpon
Digg
del.icio.us
Technorati
Reddit
RSS Feed
Everyday people have to make a decision about what to do about their real estate. Can they sell? Will they get enough money for the value? Can they get financing?
With a tougher market, many people have to make a decision that affects a long term commitment to where they are right now until their marketplace serves them better. There are many considerations that help them make the decision to move or not to move; like the expense and aggravation of the actual move, the transfer of their many accounts, mail, deliveries, etc……MOVING even across town can be a real bummer!
That said, we’re finding many people are making peace with their present homes by considering some improvements that not only help them enjoy their property more, but improve the quality of some worn out items and in the end can add value to their property.
When people make the decision to renovate or remodel, or even build an addition, there are several factors to consider:
- How do I find a dependable and reputable contractor?
- What will my wants and needs cost to make this vision happen?
- What is the timeline for this project?
- Will this improve my property value or will it hamper a future sale?
- Are there any tax advantages to remodeling now?
- Should I budget for some hidden issues that might cost me more than my budget provides?
It’s important to ask the right questions when considering building and to find the right contractor to make things run smoothly and on time.
Here are a few suggestions:
1) Check out several contractors using a detailed interview process
2) Ask them to supply testimonials and a list of past clients. Check out their reputation on the Better Business Bureau and on Google
3) Have a firm detailed budget prepared for yourself before you meet with your contractor. A good contractor may be able to help save you money.
4) Get specific on the timeline of the project
5) Be sure your contractor is licensed, especially EPA certified. This is especially important if you are planning to renovate or add to an older property
6) Get the contract in writing for the work that you are having completed, with specifics regarding permits, inspections, local zoning restrictions and requirements, etc.
7) Budget for a little more than you expected. Inevitably there will be some Murphy’s Law issue that will pop up that was not planned for
Call your local real estate professional to find out if your improvements will help or hinder a future sale. As an example, putting in a hot pink marble bathroom may be fun for you, but not at all appealing to another buyer down the road and to avoid “over improving” a property that may not be recoverable should you decide to sell in just a few years
9) Check with your CPA to get the scoop on the energy tax savings for replacing outdated windows, heating and air conditioning and more. You might find you have some tax savings to help you with your project.
10) Check out products that may be “environmentally friendly if you have a choice in materials.
It is always better to be prepared and confident in your project. For more information about what you need to know before building, renovating or remodeling, visit: www.RenovationResults.com or call: Frank Guido Construction and Custom Homes at 262-767-1942 and follow on Twitter/ RenovationTip and Facebook.
Posted In Featured, Renovation
This entry was posted on Wednesday, August 25th, 2010 at 3:06 pm and is filed under Featured, Renovation. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
