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Remodeling tips for homeowners to consider

Remodeling tips for homeowners to consider

 
May 13, 2011
 
Once homeowners have settled into their new home, they may be thinking about home renovation projects which may make their home more comfortable and increase its value should they want to sell it in the coming years.
 
There are a few things homeowners should keep in mind when contemplating certain remodeling projects.
 
Kitchen and bath projects popular
 
The National Association of the Remodeling Industry (NARI) says kitchen and bathroom modifications are among the most popular undertaken by people buying a home. Because these areas are very frequently used, the projects generally have a high value.
 
However, while updating fixtures can be helpful, experts say it's important not to get too carried away with bathroom and kitchen remodeling jobs. Many choices will likely be matter of style and taste, and may not be viewed positively by everyone, so conservative options may be best.
 
Overbudget for projects
 
The Wall Street Journal says many homeowners tend to underbudget how much a particular project will eventually cost and how long it will take to complete, which can catch some homeowners off-guard, especially if they are working on a tight schedule and have limited cash to spend.
 
One analyst told the Wall Street Journal projects can regularly cost 20 to 30 percent more than what homeowners originally estimated.
 
Heating and cooling are cost-effective ideas
 
NARI says a home's heating and cooling system may be a prime upgrade opportunity, especially if the existing systems are 10 or more years old. Newer systems, NARI says, are higher quality and more energy-efficient, providing immediate cost savings even if a homeowner isn't looking to sell.
 
The group also says the majority of older homes don't have as much insulation as newer ones, representing another potential improvement. In addition, there have been many recent innovations, such as cellulose of spray foam, which can also improve a home's energy efficiency.
 
Don't overextend on DIY projects
 
While some projects are acceptable to do alone, homeowners should not attempt projects they may not actually be qualified to do themselves. The Wall Street Journal says while a homeowner may save money on installation by laying down a tile floor themselves, DIY jobs can sometimes look sloppy and actually reduce a home's value.
 
NARI advises homeowners to consult a professional before starting any major renovation or structural changes - even if they will eventually do the project themselves - to avoid any serious issues.
 

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