Get expert decorating ideas, watch H&H TV, see inside celebrity homes, find how-to tips, DIY projects, small spaces and kitchen makeovers. Alterations and additions can sometimes create awkward leftover spaces that are ideal for purpose-built storage. Other locations include room dividers, lift-up trap doors to sealed containers fixed to floor timbers and well insulated pop-out cupboards to replace west facing windows. Be creative with storage and hire a professional company that specialises in innovation.
Each year, the magazine surveys contractors about the costs for a host of common projects and asks Realtors to estimate how much each of those projects adds to a house. You can’t exactly take the results to the bank, because there are a host of other factors that will affect your payback, from how badly your house needs the work to how common such updates are in your neighborhood. Still, the numbers are handy to keep in mind if you’re investing in a project and also think you may sell within a few years.
Updating an investment property is generally a sound strategy – if it’s done the right way. Successful advocates of the fix-it-and-flip-it philosophy are investors , with the investor’s mantra of “buy low, sell high.” So they purchase run-down homes at bargain prices and save money on the repairs by doing most of the work themselves. A little sweat equity goes a long way toward making a real estate investment profitable They carefully choose their remodeling projects,too, focusing on those that will result in the most value for the least amount of effort and cost. Part of the process includes paying attention to the other homes in the neighborhood to avoid over-improving the property. If none of the other houses in the area have crown moldings and Corian counter tops, adding these amenities is unlikely to result in a significantly higher selling price.
A quarter of British homeowners looking to improve their homes this summer are choosing to renovate their kitchen and seeing a 51% return on investment as a result. Is this something you’re thinking about? If so, check out our guide to planning your kitchen remodel and these practical kitchen renovation tips from award-winning home improvement blogger, Kimberly Duran.
Renovations: We reveal the top home improvements and how much they could boost your property price by. A simple method for increasing your property’s asking price is making some home improvements to your house. If you’re doing extensive renovations, consider making upgrades with energy efficiency in mind. Upgrades,Â like insulating the basement or upgrading windows and the home’s furnace, can help youÂ qualify for municipal, provincial and federal rebates that can quickly add up.