December 2011 Home Renovation Newsletter
In this issue of reVISION’s Renovation Newsletter:
reVISION’S Projects in Progress
A Modern Update
reVISION’s full interior renovation is completed. We brought a touch of the 21st century into this 90’s home. reVISION tore down useless walls to create more of an open concept throughout the home. We also updated the bathroom to today’s modern style. Join us on Facebook to view the entire project from start to finish!
After: One large room created by tearing down the middle wall. The newly installed customized cabinets keep the home organized at all times.
After: A brand new kitchen with plenty more light and cooking space. The newly renovated kitchen features brand new stainless steel appliances and customized cabinets.
Getting Started on your Renovation
Give yourself enough time to plan properly. Follow our newsletter over the next few months for tips on planning and executing your renovation.
Step 1: How much do you want to spend?
You won’t know, at this stage, how much it will cost but you need to know how much you can/want to spend. Typically, renovations are funded through a combination of savings, loans and mortgages, and taking advantage of the existing equity of your home. Determine the amount of your savings, the total amount you are willing to borrow and spend, and the extra costs associated with renovating such as, furniture, fixtures and appliances.
Step 2: Look into getting the biggest bang from your buck
A Real Estate Appraiser will be able to determine how to get the biggest payback on your investment by establishing the current value of your home and of comparable homes in your area. Having a professional appraiser will help you decide on the types of renovations that will give you the greatest return.
Consider a pre-renovation home inspection to evaluate the overall condition of your home and to set priorities for current and future renovations. An independent home inspector can help identify repair work and equipment replacement that may be needed.
Return on Investment- It’s important to not eliminate options for potential future buyers. Plan your project carefully to ensure you are making a wise financial decision. Below are some renovations that will give you the most bang for your buck:
- An outdoor kitchen addition, if you do it right, is between 150-200%
- Kitchen renovation – 72%
- Bathroom renovation – 68%
- Basement renovation – 49%
- Construct a garage – 70%
We hope you all have a wonderful holiday and a very Happy New Year!
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