Should You Remodel?

Should You Remodel?

As the economy remains in a flux, many homeowners aren’t sure whether they should actually bite the bullet and remodel or just wait a little longer. Well, there is good news, which might be great news for people wanting to fix up their home before moving out or if you’ve bought a house that could use a little work.

The overall cost of remodeling is dropping. So, if you can afford it, why not drop a few bucks and remodel your home? It won’t hurt if you are trying to move. If you’ve just bought a new home, making these repairs now while you can afford them is always the smart move.

Overall, in the past five years, the cost of remodeling has dropped as much as 15%. This drop has occurred despite the cost of materials increasing by about 17%. While this may be great news for consumers and those hoping to move on with remodeling projects, the amount you actually recoup from such projects is changing too, especially since homes are selling for less and less.

In today’s economy, you just have to be careful with what you actually do to your home. For example, if you plan on moving in the next few years, it might not be a great idea to invest a significant amount of money on adding onto the house.  That is, if you’re looking to recoup a high percentage of your investments.  But, there are a few start remodeling performers, regardless of the economy.

What are those ‘star’ performers? The replacement projects, of course! These types of home improvements are cheap, easy, and can make a home look good almost instantly. They are the ideal remodeling projects for people on the move.

Jon Huser