The Value of Remodeling
Things to consider when deciding whether or not to undergo a remodeling or home improvement project:
- How does your project impact your New York home's appraised value? Will the additional value of the remodeling to your home outweigh the costs of the work?
- How long you plan to be in the home? The whole point of remodeling is so that you can receive enjoyment and benefit from newly done home features.
- How strong is the resale market in the New York area? You may want to hold off on more ambitious projects if they aren’t financially beneficial in the long run.
Say you've run through these value propositions, and decide that it does make sense to do some remodeling. Where should you start? What parts of your home will have the most increased value from remodeling?
According to the National Association of Realtors' [www.realtor.org] 2009 Cost vs. Value Report, here is the average nationwide return on investment of major remodeling projects:
- Deck addition -- 80.6%
- Major kitchen remodeling -- 72.1%
- Bathroom remodeling -- 71.0%
- New roof -- 60.5%
- Family room addition -- 65.3%
- Master suite addition -- 65.2%
Of course, something to consider in the New York area is lack of space. We may not all have the ability to add on a deck, expand our kitchens out, or add a new family room. Storage therefore becomes an even bigger asset. Remodeling your storage spaces to make them more organized (and therefore able to hold more items) and aesthetically pleasing will add to the value of your home. After all, ""storage"" was ranked as the third most important aspect of a home by potential homeowners.
The best part? Increasing your home's storage capacity and organization through remodeling is something that you as the current owner will enjoy as well. That's value right there -- in quality of life
But Wait, What About Other Parts of My Home?
No problem. We've thought of that, too.
For your convenience, California Closets New York also offers additional services to complete your entire home remodeling project, including:
- Painting
- Design
- Installation
- Door options
In fact, for any remodeling that involves doors, we have introduced our partnership with RAYDOOR sliding doors and walls so that our customers have one source for all three remodeling services!
