Sensible Home Improvement Projects
Before taking out a home improvement loan, there are a few important factors
to consider. Not every home improvement project is worthwhile, and in most
cases, you will not recover your costs if and when you decide to sell.
Clarify your home improvement goals. Are you remodeling because your family
needs additional space? To satisfy your dreams for luxurious interiors?
To improve its competitive edge in the home sales market? Depending on the
project, the costs could be significant and the return on your investment
may be little if any. Here are a few examples:
Do you want a kitchen that satisfies your culinary dreams of preparing delicious
meals in comfort and style? Great! Keep in mind, however, that kitchen remodeling
is among the most expensive of home improvement projects and you will not recoup
much from the investment. Remodeling your kitchen can cost you as much as $100,000,
depending upon how much
of your current space is re-structured, the materials you use, design, etc.
While remodeling a kitchen may not seem ideal for someone renting a home or
looking to relocate, it is definitely an attractive option if you plan to stay
put and are not pinning your hopes on significantly increasing your asking price
when you sell. If you find yourself in the latter camp, then by all means,
expand, upgrade and start cooking!