Home Renovation. Thursday , September 20th , 2018 - 01:07:45 AM
Determine how much value each renovation adds to your home. This information can be obtained from your local real estate office or a qualified appraiser. Real estate salespersons and appraisers for most part use a process called CMA (comparable market analysis) to determine your home value. In short the appraiser looks at similar properties sold recently near your home. Using hisher extensive database, the appraiser is able to adjust the price based on the condition of various areas of your home as well as any new additions. For example the database indicates that an additional second bathroom in your area increases home value by $8000, updated kitchen increase value by $6000, Second garage does not impact the value and etc. This is how your local real estate salesperson is able to price out your home.
Mortgage Refinancing - If you are planning major renovations, like adding an addition or in-law suite, it may pay to refinance your mortgage. With this option you can spread the payments out over a longer period and enjoy mortgage rates that are normally much lower than those of credit cards, lines of credit or personal loans. As with home equity loans, there may be some initial fees to refinance.
An experienced home renovation contractor saves you additional cost, effort and time. He can also recommend some better designs and methods that you might not have thought of. He manages all aspects of your home renovation project, like hiring and supervising subcontractors, getting building permits and so on. Choosing a competent contractor can help you make your home the most valuable asset.
Label :Home Renovation Contractors‚
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