If you’re like many homeowners, there will undoubtedly come a time when you’re ready to upgrade that old paint job or add a half-bath to your game room. Whether you’re staging the house for a potential buyer or simply in need of a change in aesthetics, remodeling and home improvements can seem like daunting tasks.
These tips (and differentiations between the two) may help you prep for your next project.
Home Improvement
Home improvements are usually simpler and less time-consuming endeavors and most of the time won’t involve a contractor or architect. From a new coat of paint in a bedroom to refinishing hardwood floors, these projects can usually be completed within a weekend. A slightly more involved home improvement is repainting the entire exterior of the home. You may feel the need to bring in professional painters, but first you need to find the color/s you prefer and research painting companies in your area.
Staging tip: adding landscaping to your yard will catch the eye of potential buyers and get them interested even before they walk through the door.
Remodeling
Remodeling is a long-term project that involves a change in structure or volume. Contractors and/or architects will come into play more often than not. Remodeling can range from adding a new bedroom to the back of the home to completely tearing down and knock down rebuild a kitchen. When preparing for such large projects you will need to think of the pros and cons of having contractors and professional builders in and out of your home for an extended period of time. You’ll also want to be completely certain that you’re ready for such an undertaking.
Selling and leasing tip: Hughes Private Capital says: “Investment properties greatly benefit from remodeling or renovation because it adds value and makes a property enticing.”