Estimated Costs of 3 Popular Home Remodeling Projects
How Remodeling Your Home Can Benefit You And Your Finances
People always ask and wonder about the benefits of remodeling their homes. This article discusses three separate areas of the home, what their estimated costs of remodeling are, and the estimated return on investments for remodeling. We will also look at what the practical benefits are in remodeling each. We'll see how the long term benefits of remodeling one's home, outweigh whatever initial cost might be associated with it.
We'll start with the kitchen. The kitchen is a very popular choice when it comes to remodeling. The estimated cost of remodeling one's kitchen is anywhere from $12,000 to $15,000. The estimated return on investment is between 80% and 100%. A benefit of remodeling one's kitchen is a more modern look due to updating of aged or broken fixtures. Another added benefit is the increasing of the amount of space that can be put to use. Finally, more efficient means of organization in the kitchen itself. Meaning more time doing the things you want to do, and less time spent in the kitchen searching and fumbling for the next cooking or eating utensil that you might need. You can have everything set up and organized, so you know exactly where something is when you need it.
Now let's take a look at the bathroom, another very popular remodeling endeavor. Estimated cost of remodeling the bathroom can be anywhere from $5,000 to $8,000. There is a 75%-100% estimated return on investment for remodeling. One of the key benefits of remodeling the bathroom is the installation of water-saving fixtures. The installation of these features translates into money savings and also into helping the environment. In addition, it has the added benefits of creating a customized and relaxing space, as well as an increase in storage options. Less clutter, and more space to store your medicine and hygiene items.
Last but not least, let's talk about deck installations with their cost estimates and return on investments. The estimated cost of such an endeavor is $5,000, with a 50%-75% estimated return on investment. The first obvious benefit is an increase in living space. More room to do things and more room to enjoy. It gives you a specialized area where you can entertain your visitors and guests, making them feel welcome and comfortable. Last but not least, it enhances the look of your home, which in turn increases its overall value.
So we've seen the various personal and financial benefits of home remodeling. We've touched on the kitchen, the bathroom, and deck installations. We've discussed the initial cost estimate of each endeavor, and what you're expected return on investment should be. You will find that it's a particularly worthwhile endeavor, should you decide that you want to put your home up on the market.
If you're planning on taking that step to remodel your home, first you must determine what the cost will be for the project. Next, you're going to want to sit down with your mortgage broker, and explore different loan programs together. Then you want to decide between either a fixed or variable interest rate. Finally, like in everything, decide on a budget and choose a loan program that fits that budget. Go to work, and experience the wonderful benefits that go with home remodeling.
Becoming a landlord is a major deal and no one can simply get up and think, “well, yes I think I should be a landlord and rent out my flat.” If you are thinking that you would like to be a landlord,... More
Landlords and aspiring landlords, do not become as such, without guidance and advice. There is a lot that goes into being a landlord nowadays; in fact, there is so much to learn that it often confuses... More
Renting out an apartment or a house can become a constant revenue source for landlords, but at the same time, it gives rise to several problems. It is a fact that high standards, a strict lease... More
If you are currently thinking of becoming a landlord only because it helps you have a constant stream of income, you should think twice. It’s not that you should not consider offering your property... More
When it comes to paying taxes, most individuals have no idea that they may be paying so much without needing to do so. The same goes for landlords. Why should you or any other landlord be paying more... More
When you own a rental business and start it from scratch, you know how important it is for your business to reach the people it matters to most. How else would your business flourish and blossom? It... More
For a landlord, it is of immense importance to ensure that they only let a qualified tenant to move in. It is however every landlord’s nightmare when they get tenants from hell who make the tenancy... More
There are many terms and concepts used in the realms of landlording, and when it comes to learning everything in the property business, most aspiring property owners find them in trouble. Most... More
Not all tenants are alike; some of them are good, others are from hell. That’s why one should know the right way to deal with bad tenants. They can be troublesome in the sense that they can damage... More