Mitchell Dean

Home remodeling or major home repair can be an emotional and serious financial decision. The first question anyone thinking about remodeling a portion of their house should ask is “why” do you want to remodel? If you want to improve the condition of your home than you are looking at improving the value of the home as well, but if you are making mostly cosmetic changes to the home you are probably not looking at increasing any value. Only you can ask and consider the emotional value of remodeling your home.

Making an Improvement

Improvements to your home usually fall into two categories; value related and market appeal related. It’s easier to consider value differences in numbers when comparing a home’s value, such as; size, number of bathrooms, garage size, fireplaces, etc. The condition of a home is tougher to consider as it becomes more of a subjective idea. When one person feels a home is warm and in great condition, someone else might feel the same home is average and consider paying different prices accordingly.

Consider the Following Info

When considering remodeling you should take a look at the following information.

• Property records that can be pulled from the local county auditor web site where you live.
• Detailed local sales data on homes that sold in your area.
• Zoning maps if they are available in your area.
• Area statistics and demographics

Disseminating this Information

Remember that the ultimate goal in remodeling your home, even if it is just kitchen remodeling or bathroom remodeling, is to improve the value of your home at the lowest cost possible. The knowledge of sales that have happened recently in your neighborhood might save you hundreds if not thousands of dollars before hiring a remodeling contractor to take care of your home. These local home values will give you the knowledge resting in your hands to support deciding to remodel or not to remodel. This information will ultimately be important to the potential broker who will handle your homes sale and the property appraiser who will give you the actual value on your home.

Check Out the General Contractor or Home Repair Contractor

1)      Check with your local Better Business Bureau to check on specific contractors and business. If you can’t find information contact your local bureau personally to ask for them to help you.

2)      Utilize Google by typing in the contractors name or the name of the company to look for information that might be posted online.

3)      Look into social networking sites by doing a search using the contractors name. If you find them you might find information on the jobs they have done or the people that have used their service in the past.

4)      If the contractor you are considering is a skilled trade contractor than they are most likely required to be licensed by the state. You should be able to verify the business online through the local licensing authority.

5)      Checking with the local state government organization will also give you deeper insight into the contractor or company you might be considering for a home renovation or repair.

Some Other Things to Consider

• Speak with a tax professional to help you determine the amount of time that will be required to stay in the home to make the remodeling viable and get you the highest return on your investment. A great example as to why this is important is, let’s say you complete an entire home remodel but move out shortly after its completion, you will not realize the financial benefit of the remodel you just completed.
• Adding bedrooms or bathrooms, increasing square footage, renovating laundry or kitchens, these are all sound financial investments.