One of my blog readers sent me an email the other day with some interesting points. He started by saying, “After teaching real estate development at the MBA level for 7 years, I came away convinced that one of the most valuable lessons of the class was to treat their personal residence as a real project and also to factor into the process the lifestyle implications of the individual purchase options….”
Of course, this is the basis underlying everything I talk about on my blog and e-book. Whether or not you plan to sell your home in the near future, you should always think in terms of resale impact–as well as personal enjoyment–whenever you are considering home improvements, remodeling, or simple home makeover projects.
My reader and I also agree that today’s economy and depressed construction and remodeling industries are offering homeowners a real opportunity to make value-added home improvements at prices that are perhaps 25% below what they were just 2 years ago, and probably much less than they will be in 2-3 years from now. It’s also a great time to refinance.
So, if you have been considering launching home remodeling projects, either for increasing your home’s value or for simply updating it for your own enjoyment, now might be the opportune time. But don’t jump in willy-nilly. Take the time to prepare. Get consultations and bids from reputable contractors (your friends & neighbors might have some referrals). See what you can learn online. Use resources like my blog and e-book to help you avoid problems, gather ideas and direction, identify green ideas to incorporate, decide what you will do yourself (DIY) or contract out, and learn tips on negotiating an appropriate agreement with your contractors.
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Seek simplicity, comfort, and value!
