Home Remodeling & Additions

Remodeling and adding onto your home can be an extensive, expensive project.

Remodeling and adding onto a home can improve the quality and value of the property overall. However, certain aspects should be considered when planning for a major project such as a remodel or room addition. Consider the type of contractors you need, the cost of their services and the length of time the project will take.

Basement Remodeling

Deciding to do a basement remodel can add a significant amount of value to your home. Because a basement is a part of the existing structure, it's much more cost-effective in comparison to adding living space to your home. You can make the basement into a family room, a recreational area or even a source of additional income by building an apartment that can be rented out.

Decks and Patio

Adding or remodeling the deck or patio adds extra space to your outdoor entertainment area. Whether your home came with a slab of concrete as the patio or a basic, square-shaped deck, you can remodel/rebuild this area to match your entertainment needs. Add an outdoor fireplace and grilling area if you have a patio or if you have a deck, or consider adding different levels of the deck until it reaches ground level. For instance, the highest level of your deck can be to simply enjoy the view, followed by stairs down to the next level for a grilling and sitting area, with a few more steps to the ground level of the deck.

Kitchen Remodeling

A kitchen remodel that incorporates updated appliances and a modern aesthetic can be a good investment should you choose to sell your home at some point. Consider whether you have the budget to change the layout; keep in mind that in the kitchen, electrical and plumbing setups may need to be altered, and this can get expensive.

Additions

Once you have decided that you need some additional space in your home, look at other homes in the area to find out the comparable market values for a home of your size and the features you are adding on to your home. Subtract the current market value of your home prior to any additions from the market value of comparable homes. The difference is the amount you should limit yourself to using for your home addition. For instance, if the current market value of your home is $200,000 and the market value of other homes in the area that have the space and features you are considering is currently $250,000, as a general rule of thumb, your budget for this home addition project should not exceed $50,000 so that you don't lose money should you choose to sell.

References

• Denver Business Journal: Want Added Home Value? Look in the Basement
• eHouseplans: Building a Home Addition