when your siding has seen well again days, improvement it just might be one of the best investments you can make for your home, no matter what the economic climate. Since siding functions as a shield for the materials it covers, the better siding you have, the longer those materials are likely to last. In 2007, this makes upgrading from vinyl or aluminum to fiber-cement the best investment national when it comes to recovery your costs!
Though often the smallest rooms in the house, your bathroom can have a dramatic impact on your day-to-day life. Bathrooms also pack quite a punch when it comes time to put your property on the market, and remodeling your bathroom (which recovers 78.3% of construction costs on average) can mean the difference between a home that’s sold quickly and one that stays on the market for years.
The average cost of a bathroom remodel over the last quarter was less than $10,000. Out of a pool of 3,000 homeowners who found their bathroom contractors through SM, 9 out of 10 were not only pleased with their project, but would recommend it to others. When you think of the money and resources that get wasted by leaky pipes, dripping faucets, inefficient showerheads, and obsolete toilets and, add the hassle of waiting for mirrors to clear up, waiting for hot water (or running out too soon), and dealing with water pressure problems it’s easy to see why so many folks are so happy with their new bathrooms!
While not technically a “renovation,” an inspection is a sound enough investment in unstable economic times that we had to include it in this list. The beauty of an inspection lies not in what it does for your property, but what it prevents. For instance, a chimney inspection and cleaning will often cost somewhere between one and two hundred dollars, where a chimney fire can cost you thousands in property damage.
Few things can make a room shine like good flooring. Fortunately, flooring upgrades are also an excellent investment in just about any home. One of the nice things about replacing a floor with a more durable material is that you can really get your money’s worth.
Small Kitchen Remodels
In much the same way as bringing a bathroom up to par is almost always a good investment, minor kitchen improvements are generally a safe bet. Unfortunately, going overboard during a kitchen remodel is common, and many folks end up spending way more than they planned before the job is finished. To keep your investment budget-friendly, focus on the things that really need attention, and leave the elements of the room that are functioning just fine intact.
General Guidelines for Recession-Proof Remodeling
For the period of uncertain economic times, the adage “If it’s not broken, don’t fix it” is certainly suitable in many cases. However, to be completely accurate, you may want to add something to the effect of “If it’s slightly broken, fix it now.” “If it’s working fine, but it’s costing you plenty to operate, get a better model” might be another good phrase to live by. Basically, any remodeling project runs the risk of person more trouble than it is worth, but, in a nutshell, hard times call for projects that will not only make your property look better, but will help it function more efficiently for years to come.