Home Renovation. Wednesday , October 10th , 2018 - 10:00:11 AM
With any home renovation project, you're going to have to measure rooms, furniture, and materials at multiple points in the project timeline. One of the biggest mistakes novices make is making incorrect measurements which are essentially the basis for pricing, cutting, and managing materials and resources for your renovation. Take careful measurements, and always double check them to make sure they are accurate. Otherwise, you'll find that you've ordered too much or too little material that your furniture doesn't fit in the renovated room, and other problems.
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.
In addition to these general tips, you should consider the purpose of your renovation before you start. If you are updating your home for personal reasons, but you plan to continue living in it, your renovations need not be rushed. You can update a room at a time as your budget allows, or you can make grander plans. However, if you are hoping that renovations will help you sell your home, here are some factors you should consider.
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