Home Renovation. Wednesday , September 26th , 2018 - 19:27:22 PM
What about when the home-owner is trying to sell their house? It is well-known that a new kitchen has the best return on investment and can boost the value of a house significantly. It may be tempting to renovate this little profit maker first to get more money and to make the house more attractive, but there is a downfall - if there are any outstanding structural or major maintenance issues, the potential buyer, if they have any common sense, will find them when they have a structural survey performed. Depending on what the issue is, there could be one of several outcomes: a request for a reduction in price, a request for the work to be completed and re-inspected at the homeowner's expense, or, as is quite often the case, a permanent retraction of the offer. It's a hard pill to swallow for the seller, because typically a realtor's price evaluation of their house has not taken into account the cost of this additional work, and yet by having the work done, there seems to be no benefit in terms of increasing the house value. In fact, of course, there is - it's just that the evaluation was too high in the first place.
After you get a list made and find out what funds you have available. Consult a renovation contractor. He will go over your list and of wants and needs and most likely do his own inspection of the areas that you want renovated and give you suggestions in the areas that should be renovated first. Your home improvement contractor will make a bid most likely on each item on the list and bundle it with a total renovation cost. When you get this bid take your time and decide which items that should be done first incase the funds run short. With a bid from a license contractor your bank may loan you the extra you need to complete your home renovation needs. There is actual grants through the state if you qualify you could receive a low interest loan. Some of these loans are like one percent. Most likely the County Treasures office can tell you where you can get a grant application.
However, there is sometimes a far more important home renovation to be considered, and that, unfortunately, falls into definition number one. It is the maintenance renovation, the "restore to a former better state" renovation, the boring renovation - and the ratio of financial cost to "wow" factor absolutely stinks. This type of renovation includes things like a new roof, foundation repairs, pointing, insulation, and wiring - normally renovations you can't see - and are generally the top priority of any home owner, no matter what situation they are in.
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