Remodeling GuideShould I Renovate and Remodel?YES! Lets Try Remodeling!Do you like the neighborhood in which you live? Is your home a little out of date with the other homes on your street?If you answered yes to both of these questions then remodeling may be the course of action for you. If also your home no longer completely works for your family some renovating may be necessary to sell your home.In the case of a sale the greatest return on your investment will come from remodeling the kitchen and the bathroom. Also consider finishing the basement and refreshing the landscaping. A finished basement and attractive landscaping are major must haves for most families. Remodeling older homes often involves new flooring and window replacement that results in a quick sale at a good price. A great deck or patio adds outdoor living space to your home. The deck can be living space, bar b que spot, a party area or a retreat. Buyers react well to nice decks. A buyer will choose a home with a deck if everything else is equal. "Homes that properly fit how people live tend to sell faster and for more money", Christopher Wright, Indianapolis based remodeler. NO!Renovating costs may not be completely regained in a sale. Renovating or remodeling can be inconvenient and stressful. There will be noise, dirt and periods of no access to certain parts of the house. Moving is also stressful, but without renovations it takes less time to put your house up for sale. Renovations can be unpredictable. There may be cost overruns. If you move you will know what your new home looks like whereas a renovation can turn out to be different than your expectations. Is your house the most expensive one in the neighborhood? If so, Remodeling might not make sense. Depending on the nature of the renovations required and the current market conditions in your neighborhood it may be cheaper to move.Get all the facts. Ask for an evaluation of your present home with a real estate agent. Its usually free! Home Remodel IdeasMost people remodel their home to improve their quality of living. Renovating or remodeling will increase the value of your home.The quality of the house should remain similar to those of other homes in the neighborhood. A castle in the midst of an average subdivision will sell for less than its true value. In the same way a home smaller than its neighbors may sell for more than its true value.Best Home Remodel IdeasGlass tile, stainless steel, glossy countertops reflect light and brighten small spaces.The Appraisal Institute of Canada on its website gives average paybacks as: 1. Renovating the Kitchen .75-100% 2. Renovating the Bathroom ...75-100% 3. Interior painting .50-100% 4. Exterior painting 50-100% 5. Window or door replacement .50-75% 6. Finished basement . .50-75% 8 Projects, one day each, to add Value to Your Home1. Replace sinks-$400, and faucets-$150.2. Add a backsplash at $14 per 12" by 12" tile. 3. Install a vanity cabinet- $200, and a toilet-$250. 4. Paint a room-$30 per paint can. 5. Install Crown molding-$5 per foot. 6. Get organized-$20 to $500 for storage in basement, garage and closets. 7. Replace the front door-$150 to $500 or more cheaply have a narrow glass panel with a grill guard installed in your present door to make it look better and to let more light into the foyer. Exterior doors should be solid core for security. Exterior doors need deadbolts. The bolt should be an inch long. Buy a reinforced striker plate. Locks are graded from 1 to 3. Buy a grade 1 or 2. 8. Landscaping-$300 to $500. Remodel to Add a Gas FireplaceAdding a gas (natural gas or propane) fireplace can add beauty and value to your home as well as helping to lower the heating cost.With a vent free gas fireplace an exhaust chimney in not needed. With a direct vent gas fireplace outside ventilation is needed. A gas insert can be installed into an existing masonry fireplace. There are many options that can enhance the decorative effect of the fireplace such as glass doors and mantles.Decorative gas fireplaces are not energy efficient. Remodel windowsAre some of your windows cloudy or have moisture on the panes? If so, the seal is probably broken. If the frame and sill are good you do not have to replace that window! There are companies that will drill a small hole in the glass and remove the moisture and reseal the window.Decorating a Room IdeasTry this approach to redecorating a room. Empty the room completely. Yes, everything. Stand in the empty room and think about how you design it any way you like. Paint it. Maybe one wall can be a different color or shade than the others. Move the essential items back into the room. Try some different arrangements. Take a good look to see how they work for you. Take some of them out, leave them or replace them with something smaller, bigger or different. Consider what else might be needed to produce a really pleasing room for you. Create the space you really want. Unclutter. Have a garage sale, recyle, give some stuff away. Sometimes what you take out of a room is what makes it work. Renovate SafelyPlan AheadPlan ahead for obtaining building permits, identifying utility lines on your property above or below ground. Call Before you dig to locate those gas, water, and electrical lines. Work out all the details of the renovation before you begin. If the renovation involves the space around the furnace, water heater or any appliances, make sure you not only leave space for the device to work properly but also so that the devices can be properly serviced. Safe ToolsBuy tools that are the right weight for you to handle and still get the job done.Keep the tools clean. Use a 12 gauge extension cord for heavy duty equipment. Wear sturdy clothing and work boots. Wear safety glasses and hearing protection when working with noisy equipment. When working on a ladder do not go higher than the third rung from the top. Minimize Remodeling Havoc. For a kitchen remodeling project set up a cooking area with a fridge, microwave and toaster oven in another room; perhaps a large bath room would do. Tape off electrical breakers so that they wont be accidentally turned on. Block off openings in the floor. Tankless Hot Water Hot water tank or a tank-less continuous supply? A tankless system provides a continuous supply of hot water and is very energy efficient. The equipment is a small box mounted on the wall. However the original cost for a tankless system is higher than the traditional water tank system. If electrical power is off to the house by weather or other incident there will be no hot water produced by a tankless system! Adding a Sun RoomA sun room with screens on the windows provides both light giving vitamin D and fresh air. A sun room or a gazebo can be an oasis after a day's work: a place to relax, have pleasant conversations, read a book or just be quiet. However, sunrooms are not cheap. Even gazebos cost about $5000 and up, way up. Add some windows and screens and the price can be $20 000 or more.Install Retractable ScreensRetractable screens slide out of sight when not in use. They can fit all styles of doors and windows. They are strong and will not sag or tear.Organize the ClosetsThere are closet organizer companies that can transform your closets to hold all your clothes neatly and conveniently: jewellery drawers, locked secret document drawer, ironing board, pull out shoe drawers, belt rack, tie rack, valet pole and mirrors.Remodel LoansPersonal Line of Credit from a bank usually for less than $50 000 in Canada or $100 000 in the US.The bank will want to know your credit score, income, and debts outstanding. The bank will determine if you qualify for a loan and for how much. The interest rate is typically prime, which fluctuates, plus 1% and the interest payment is calculated on the amount of the loan you have used, not the total that you have qualified for. As you pay back this loan the interest payable decreases with the decreasing loan amount. Home Equity Line of Creditfrom a bank where the equity in your home is used as collateral for the loan. The loan can be as much as 80% of the equity The home equity is equal to the market value of your home minus the present value of your mortgage. In Canada banks usually require a minimum of 20% of the value of your home equity. A home appraisal may be required as well as proof of income and home ownership. The payments can be as low as interest only. This loan is considered a mortgage and as such default on payments could mean power of sale and loss of the home. Home Renovation or Improvement Loan can be obtained as part of a mortgage. The lender can decide to pay the contractor doing the renovation work directly. The amount of the payment will be the estimate that the contractor prepared to do the job. The purpose of the loan is usually for necessary improvements to the property. This type of loan works well for first time buyers who have the minimum down payment but can qualify for the necessary mortgage including improvements.Most banks and mortgage brokers are familiar with this type of loan and can advise the buyer what the options are and what might be best for them. Go from remodeling to Home Page Tips to Hire a Remodeling Contractor
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