It is normal to grow tired of living spaces. As people mature, their tastes change, or their situations evolve. However, you do not need to put your home on the market. You can choose to remodel the existing structure to make your current house fit your current needs. If thinking about house remodeling, there are at least four things to consider.
1. Consider Budget
How much do you have to spend on a remodel? If it is under $1,000, you will probably need to focus on cosmetic changes, like paint colors or fixtures. However, if you have a budget well over $1,000, you can think about fullscale remodels of specific spaces; although, keep in mind that bathrooms and kitchens often require anywhere from $5,000 to $10,000 for a basic remodel.
2. Determine Goals
Do you want to increase the square footage of your home, or simply make a room look more inviting? Increasing square footage requires additions, which cost a lot, typically over $10,000 and they can reach into the six-figures depending on the size and scope of the work. It is less expensive to finish a basement and add an egress window than building an additional family room or bedroom off the back of the house.
3. Specify a Timeline
House remodeling can take a few weeks to an entire year, depending on the extent of the work. You need to consider how a renovation will alter your schedule. Also, always think of the worst-case scenario when talking about the timeline. If a contractor says six months to a year, better count on the year.
4. Assess the House and the Location
You always want to consider market value. You never want to add more value to the house than it will ever be worth; you are better off buying a new home.
No one expects you to be an expert in remodeling, so always consult with a professional. Also, take them at their word, do not assume you know more. House remodeling takes a level of skill that most homeowners do not possess.