A recent study done at Harvard University indicated that the
projected amount of spending on home remodeling will grow 5.9% by the end of
this year and will reach almost $125 billion.
Some individuals are choosing to stay in their homes until
the value of homes begins to inch back up. Others want to make many
improvements to their homes to give them an edge over everyone else in the
competitive market. And for some, they simply just want their dream home.
Here are a couple of tips to remember if you’re thinking
about remodeling your home!
First, be cautious of over-improving your home for the
neighborhood or surrounding area you’re in. It is important to maintain a
realistic budget, hire contractors wisely and be prepared for surprises,
inconveniences and setbacks.
Also, be aware of under-improving. It is a competitive
market out there. Something as simple as not adding granite countertops can be
what gets your house left on the market in comparison to another home at the
same price with granite countertops.
When it comes to choosing a contractor, cheapest usually
isn’t best in this situation. When you’re ready to hire a contractor, get lots
of bids and give them all a close look. Ask a tremendous amount of questions
about their experience, previous projects and whether they’re licensed, insured
and bonded.
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