Remodeling – Added Value or a Nightmare?

A Recent Remodel - Before

After the Dust Settled -

See Full Remodel Video Here 

Doesn’t remodeling look easy on TV?  I watch these shows and WISH that I had the army of people it takes to get their projects done and the discounted/free stuff that they get from their advertisers.  But, alas, for us mere mortals – We need a Plan – Great Referrals – Market Knowledge!

A PLAN:  Know what you are getting into and WHY.  Do you really need the $2,000 farm sink or will the $900 one do the job and still look great?   If you are not a designer – seek help.  It is very easy to buy an ill-fitting fixture, the wrong type of tile for the use, etc.  It seems expensive, but add a design fee as a line item your budget.  If you are going to do-it-yourself, value your own time and add this to the budget. Your time is valuable!  The budget is your working tool – playing on paper is cheap; ripping out mistakes, ouch! 

THE REFERRALS:  Ask your contractor for references — and call them!! I can’t tell you how many people I speak to who use contractors that they met at trade shows or the grocery store.  Sometimes this works. . . but a big gamble for your hard-earned money.  Take the easy way out..learn from other’s mistakes and wins and ask for referrals and then – even if you have a solid referral – ask the contractor for at least three more referrals.  Not a huge data set but better than zero!

MARKET KNOWLEDGE:  Before you sign any contract talk to a local Realtor about the “before and after” value.  If you are in 90266, 90277, 90278, 90245, 90254 call us about an opinion!   Are you doing things that will enhance value? Sometimes it is a necessary evil to fix stuff that does not sizzle (upgrading the electrical).  However, these do improve value.  On finishes that do show–make it clean, clear and make it last.  If you want something truly unique add your Wild-Thing touch with paint, carpet, art and furniture – NOT your hard finishes.  After you speak to a Realtor or two about value enhancement you may want to circle back to step one and tweak your budget.

Finally – Whatever you do, leave a solid cushion for the unknown. Good rule of thumb 10-20% if you are doing, paint, carpet, fixture swaps… 30-40% for the heavy lifting – room additions/moving walls, etc.

May your sawdust have a silver lining!

Want to search for your current home value?  Use this tool and then contact us for fine tuning.   http://SalzmanandGlover.smarthomevalue.com