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Upgrades are on the Rise!
It might not be "this old house," but remodeling and upgrading have become a way of life for several homeowners who are riding out the real estate slump.
During the seemingly endless wait for home values to rebound, many homeowners are sinking their efforts and their savings into their existing investment.
They are expanding livable space, improving their curb appeal and incorporating custom elements, knowing that the low-cost enhancements can be an exceptional selling point when it comes time to put the house on the market.
It's a simple concept: Utilize existing space to enhance your lifestyle while increasing the value of your property.
A 2,800 square foot space can be turned into a 4,200 square foot home for less than $60,000. A dingy storage space can be transformed into a trophy room on a small budget.
Whether it's a weather-resistant deck in the backyard, a wet bar in the basement or new hardwood flooring in the kitchen, minor tweaks can provide comfortable amenities for the family to enjoy.
 Some homeowners finish a basement to accommodate a growing family or out-of-state visitors, while others want to host holiday parties or create a play area for the kids.
Many companies that maximize space by installing bedroom storage units and organizers even provide a free assessment and show clients what the finished product might look like by using a three-dimensional rendering.
A game room, sewing room or well-equipped "man cave" can spell the difference between a sale and an uninterested walk through.
Innovative landscaping can also go a long way toward improving the exterior of a home for little money.
For those who aren't exactly do-it-yourselfers, there are some important tips to remember:
- A remodeling job requires at least one and possibly two professionals to draw a plan and execute it.
- Obtain at least three written bids for your particular renovation, using identical plans and specifications.
- Do not automatically accept the lowest bid!
- Discuss each bid in detail with the person who submitted it, and make sure you understand the reason for any variations in price.
- Make sure you are hiring a licensed and skilled contractor.
- Come to the table with a clear vision.
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