Determining Cost Vs. Value of Home Improvement
What to consider when planning home improvements
As a homeowner, you inevitably have to plan your home improvements based on cost, value and need. You see what changes you would like to make, but you don’t know how far to go or how much to spend.
There are several things to consider when planning your home improvement project that will help you determine what changes you should make, and how much is appropriate to spend.
Why make home improvements?
When considering a home improvement project, first look at not only what you want to do, but why you want to do it. Increase home value? Increase your personal enjoyment? Improve your quality of life?
Figuring out how much value a particular improvement will add to your home is simply a matter of looking at real estate prices in your area, and comparing price differences between homes that have a second bathroom (or finished basement), and those that don’t. That price difference will give you an idea of how much you can spend on the project without losing money.
Then there are the really fun projects that have less to do with adding value to your home and more to do with adding value to your life! These projects will still add value, but more importantly they will add to your day to day enjoyment and your families’ quality of life. Not doing these projects can sometimes cost you more than the money you would spend.
While your home is an investment, it is also your home, and that is its true value. Trust your home improvements to a family company that understands that value.