Why Remodeling Your Home Is Worth It

If you are considering selling your home at any point in time, please read through this post because it will be very beneficial to you. Two years in a row now, the cost compared to retained value of remodeling your home has gone up. What does this mean? Basically, it is becoming increasingly profitable to remodel your home in one way or another. Every 20 years or so there is a need for remodeling due to obvious reasons; trends change and styles go out of style. Now is that time! New buyers are putting stress on new types of features. As a real estate agent out in the trenches seeing multiple homes every day, I can testify to the fact that most homes out there need some type of remodeling. The homes that sell quickly and for the highest prices are the ones that have been recently remodeled and updated.

What do I mean by remodeling? Remodeling includes projects such as the following:

- Remodeling the attic for an extra bedroom (Average project cost: $49,438; cost-to-value ratio 84.3%, an increase of 15.6% compared to 2013.)

-Remodeling (finishing) your basement (Average project cost: $62,834; cost-to-value ratio 77.6%, an increase of 10.4% compared to 2013.)

Although these are very beneficial remodeling projects, you may not be willing to spend those amounts at this point in time. If you are considering selling your home very soon, you may want to look more into replacement projects with the best return on investment. Some of the best replacement projects you can do are replacing the windows, siding, roofing, and the garage door(s). However, the most important and cost efficient replacement project:

- Entry door replacement (steel) - this replacement will return approximately 96.6% of the cost into your pocket. There is a low initial cost to replace the entry door and it adds a tremendous amount of curb appeal (Also, the entry door is the first thing the buyer will notice before walking inside and the first impression is CRUCIAL.)

One more aspect to consider which will add a lot of value to your home, as well as having the largest increase in percentage of cost-to-value ratio: back-up generator. These past years have been a flurry of storms, whether it be rain, snow, wind, etc. power outages have been way to frequent for people's liking. A back-up generator, more than anything else, adds security and comfort to a home. It would be well worth the effort to have one installed on your home.

[chart and statistics research found on http://www.remodeling.hw.net/cost-vs-value/2014/trends]

"EMPOWERHOUSE" The Future Of Living

   
The term "energy efficient home" just acquired an entirely new concept, and that is the "Empowerhouse". Engineered and developed by students at Stevens Institute of Technology, Parsons The New School for Design, and Milano School for International Affairs; the Empowerhouse won the Department of Energy's Solar Decathlon competition for its cost effectiveness. The Empowerhouse, located just outside of Washington D.C., has basically NO carbon footprint by using approximately 90% less energy for heating and cooling.

     The home is a 1,000 sqft duplex with 12 inch think walls and triple glazed windows. For proof of the homes efficiency it was given the passive house certification test and passed. To test the home a giant blower fan was positioned in one of the doors while all the other doors and windows were closed. The fan slowly sucked out all of the air until the house was pressurized at 50 pascals and then the amount of air that creeped its way back in was measured. The results on a typical home will have a reading of 7 air changes per hour which basically means that in one hour, all the air in the home is replaced 7 times. To pass the passive house certification test means you have recorded a reading of 0.6 air changes per hour. 

“That means that all the little leaks put together are smaller than a postage stamp,” said Orlando Velez (Manager of the Housing Services for Habitat for Humanity of Washington D.C.) “And if you wanted to, you could heat your home with a hair dryer quite easily.”

     Now to answer the questions that I am sure most people are wondering, what is the price tag on this housing innovation and how much will you actually save in energy costs? Well, the cost is approximately $200,000 for each half of the duplex and the estimated energy savings is almost $72,000 over the length of a resident's 30-year mortgage. A lot can be done with that amount of money freed up for your future. 

“I just remember thinking, we did it, a non-profit, affordable house developer can do this, even using volunteers with no construction experience,” said Velez. “And then I started thinking, what’s everyone else waiting for?”