WHEN IS THE RIGHT TIME TO RENOVATE?
In the recent past it seemed that everyone was building additions, remodeling kitchens and baths, introducing living space to basements and attics, and otherwise improving our homes. Today, renovation fever has eased, largely due to a general reduction of funding available to many of us.
But a home maintenance to-do list is never finished, and in most cases, delaying a project only adds to the ultimate bottom line. Our lives don’t stop either: we add to our families, watch grown children move on, we grow older and anticipate the physical challenges that come with aging. Sometimes we simply learn that the existing layout of our home just doesn’t accommodate the ways we live our lives.
With decades of experience with older homes, we thought it might be helpful to provide you with some general maintenance timeline suggestions, as well as a handy ROI chart to remind you that, in many cases, renovation is a good investment.
MAINTENANCE:
Roof: How old is your roof? 15-20 years is the average lifespan for a healthy roof. If yours is older, it may be a good time to consider replacing it. Other indications range from the obvious—precipitation leaking inside—to more subtle hints like shingles that are beginning to curl at their edges.
Exterior Paint: Exterior painting is one of the most important home maintenance projects that can be done. Sometimes the paint and caulking is all that is stopping damage from the elements. It’s often neglected due to expense and homeowners are faced with the large investment of whole house re-painting. But if you have your house looked at every year and have the worn areas touched up and re-caulked and repaired a new whole house paint job should last 10-12 years.
Electrical: Maintaining your electrical system may save you more than just cash — it can save your life. Many older homes feature a real bird’s nest of wiring running throughout; check yours carefully and make sure that the insulation hasn’t worn off—this poses a real danger. Knob and tube wiring can be a concern as well. Something else to consider are your outlets. Are they designed for two-prong plugs? You may want to replace these now: three-prong receptacles are grounded and much safer.
Windows: Faulty windows have an immediate impact on your bottom line as they very quickly result in higher energy costs. You’ll know that your window needs to be replaced or refurbished when you feel cold winter air seeping inside. Windows that become coated with condensation, ice, or frost are also ready to be replaced or repaired. At Charlie Allen Renovations we believe that the best window is an original wood window that has been re-glazed, and repaired to proper working order. Paired with a storm window it is the best window package available.
RENOVATION:
With the economy in its current state, ROI (return-on-investment) figures are a good way to justify remodeling projects. All improvements are not equal—the following list details the top 5 home improvements most likely to recoup their costs upon the later sale of the house. Data comes from Remodeling magazine’s 2009-2010 survey, and figures are for the New England region only:
PROJECT |
COST RECOUPED |
1. Adding an Attic Bedroom |
83.1% |
2. Adding a Deck |
80.6% |
3. Basement Remodel |
75.4% |
4. Kitchen Remodel |
75.2% |
5. Bathroom Remodel |
71.0% |
Of course, many of us are not thinking about resale value when considering renovations. If you’re simply interested in living more comfortably, there is no better investment than your home and we like to think the best time is always now.
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