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Here are some popular renovations that my customers tend to make no matter the state of the economy, but are more inclined to commence when coming out of a recession.

 

Upgrade Siding:  A siding upgrade can prove to be a wise investment, especially if the siding has seen its better days.  Siding serves as shield for the materials it covers, so a better siding will allow those materials to last.  In 2007, Remodeling Magazine's Cost vs. Value report stated that installing fiber-cement siding usually recovers over 88% of construction costs in added resale value; so upgrading from vinyl or aluminum to fiber-cement is an investment you should definitely consider if you want to recover your costs.

Bathroom Enhancements:  When it comes to selling your house, a bathroom can have big impact on how long the house stays on the market,  That small room can be a deciding factor for many people when they are looking to buy a new house.  Remodeling your bathroom can amount to an average of 78.3% in recovery of construction costs.

Home buyers are looking for new bathrooms that are free of dripping faucets and  obsolete toilets. 

Inspections:  Inspections serve to find problems that need to be corrected.  As example, a chimney inspection and cleaning will often cost a few hundred dollars, but a chimney fire can run into thousands in property damage.  Inspections are offered for roofing, foundation, waterproofing, to name a few.  They help to discover small problems before they become large ones.

Enhance Flooring:  Flooring upgrades are an excellent investment, allowing to use a more durable material.  Carpeting is the least expensive flooring material, and can be expected to last approximately 8 to 10 years, assuming correct maintenance and normal foot traffic.  (And who doesn't have normal foot traffic?)  Natural hardwood's life expectancy is estimated to be 100 years or more.  Hardwood floors cost more in the near term, but they last much longer.

 

Small Kitchen Remodels:  Kitchen remodels are usually a good investment.  Just be sure you don't go overboard.  You should concentrate on the things that need the remodel and leave the things alone that are performing to your satisfaction.  Remodeling Magazine puts the average cost of a "major" kitchen remodel at $55,503, while a "minor" kitchen remodel comes in at $21,185 and recovers 5% more of its construction costs.

 

General Guidelines for Recession-Proof Remodeling:  A remodeling project can run into more trouble than it is worth, but challenging times call for projects that will improve the looks of your property and help it function with efficiency for years to come.

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Do you want to talk about it some more?  Send me an e-mail to this address, and be sure to mention this blog, and I will be back in touch shortly.  mike@sonriseconstruction.com