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Kitchen Remodel
There can be many benefits for the homeowner who chooses to complete an interior remodeling project. Abbe Edelman, a property appraiser can speak firsthand of some of the benefits that a home remodeling project can have on a home, including increasing the home’s assessed value. A property appraiser will not care what color your living room walls are painted, or the brand you choose for kitchen appliances. But the homeowner will find that there are plenty of benefits of remodeling the interior of the home.
Proper Maintenance
Even if you are not interested in putting your home back on the market, interior remodeling projects can help keep the house in good condition. Interior painting or updating appliances really are beneficial for maintaining the home. It is important to keep plumbing, electrical, and heating and cooling units all up to date. Home improvement projects involving these areas can help keep the home functioning properly, the occupants comfortable and preserve the home’s value.
Increase Comfort
Sometimes it is important to participate in an interior remodeling project to simply improve the comfort level of the home. This may mean that a bedroom gets a complete overhaul, or it may include updating interior lighting fixtures in key areas where family members enjoy reading or working on hobbies. Updating the bathroom with modern fixtures, improved lighting or easier access can help improve the comfort level.
Saving Money
There can be some specifically green home improvements that may help save quite a bit of money for the homeowner by reducing home operating costs. This may mean including replacing existing appliances with energy efficient models, or opting for a more efficient air conditioning or heating unit. In the long run, these can save money on the home’s utility bills. Installing a tankless water heater can also mean a substantial savings as well as never running out of hot water again. Lighting fixtures can be replaced with newer ones which are more efficient, and adding insulation can save on heating costs.
Increase the Value of the Home
One of the main reasons that homeowners tackle an interior remodeling project is because it can increase the home’s value. There are several projects which typically help to increase the overall value of the home. Kitchen remodeling projects are the most common projects and minor and major projects can increase the home’s value. Another popular remodeling project that can increase the value of a home during is adding a room. Making one large room into two will be beneficial for those in the home, but it will not increase the square footage of the home nor increase the appraised value.
Increase Marketability
Another benefit that homeowners may realize from interior remodeling projects, both minor and major ones, is that it will make the home easier to sell when it is put back on the real estate market. Even if the property appraiser does not see the project as an improvement which increases the home’s value, if it improves the home’s aesthetics it can make it much easier to sell because it will be more appealing to those looking to purchase a home. This can end up saving the homeowner even more money since they will not have to pay real estate costs for an extended period of time.
Multiple Benefits
Whether or not a homeowner is trying to get the home back on the market to sell, there can be many benefits from interior remodeling projects. Sometimes the homeowner will see immediate changes in utility bills; other times they may not realize how much the improvements were really worth until they speak with a property appraiser.
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