Since a sagging market brings both housing woes and financial uncertainty, it might be wise to change the priorities of your planned home improvements and renovations. More likely than not, you’ll want to stay in your home a little longer while still taking steps to increase its value.
As suggested by Dan Fritschen, author of Remodel of Move? Make the Right Decision, many people feeling the strain of the market should reorder their home improvement plans by expense and required skill. Following your budget, there are a number of things that can be done, relatively inexpensively, to increase both the value and livability of your home. For instance, painting or refinishing kitchen and bathroom cabinets and floors, installing new interior doors, replacing windows, new crown molding and baseboard, replacing old model toilets and sinks with new water efficient designs, layering new carpet and refinishing hardwood floors, and fixing and upgrading appliances are all things that can be done on a relatively fixed budget, in a short amount of time, with little or no professional labor necessary.
For more extensive projects, Fritschen reccomends that you take your time, research possibilities, and calculate the costs and benefits of the improvement. Some of the smarter, more in-depth projects people choose to do include: remodeling a kitchen, remodeling bathrooms, finishing basements or attics, adding on rooms, enlarging family rooms, and adding stories.
As always, regardless of the extent to which one decides to make home improvements, the current market strongly supports green improvements that both save you energy and increase the value of your house.
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