If you’re considering remodeling your Santa Cruz home, whether it’s a project as small as adding a bay window in the kitchen or as big as adding on a new bathroom, here are a few items you should consider before making the decision to remodel:
• Budget for success – However much you think the renovation might cost, realize that it will likely cost more. Keep that in mind when considering whether you can truly afford to make the changes.
• Put your money toward your priorities – If you live to travel, and you spend very little time in your Santa Cruz home, is the best use of your funds really a renovation? Think about the return on investment as it applies to your happiness.
• Remodeling only goes so far – If you want to rip out the kitchen and both bathrooms and add three bedrooms, what you may really want is another house. Both remodeling a home and buying a new home require a financial commitment. To help you decide whether you should remodel or move, recognize your goals. Do you prefer to stay where you are because you love your current neighborhood and the easy commute to work? Or would you rather move to a new area?
• Understand the upheaval – Depending on the extent of the renovation, areas of your home may be out of commission and uninhabitable for stretches of time. If you renovate your kitchen, for instance, cooking is off limits or severely constrained for some time. Can you handle the mess?
• Now and the future – When you are looking at your budget, consider how secure your current income is. For instance, if the contract for your position is up in a few months, make sure that renewal is likely before setting your remodeling budget.
• Invest wisely – If you are planning on staying in your house over the long-term, and want to make it more comfortable, then renovation can make sense. If you are planning on selling the house, consider whether the changes you want to make will increase the value and be worth the headaches that will come with all the work.
If you’d like more information about renovations that can increase the value of your Santa Cruz home, give me a call today at 831.662.6522 or email me at Lauren@LaurenSpencer.com.
For additional real estate information please visit my home page at www.MySantaCruzRealEstate.com.