In the real estate world ‘renovation’ and ‘remodel’ can have different connotations that make a big difference when it comes to costs and property values. If you’re considering investing in a property to fix or flip, understanding these differences can be important in knowing what to look and plan for.
No matter the state of the housing market, the cost, and effort of a remodel could very well be worth it if it’s something you’ve had in mind for a long time. Remodeling almost always gives you a significant boost to the resale value if that’s your intention, while the added beauty and comfort make living in your old home a new and exciting experience.
The record-low interest rates and unique instances of the current economy make remodeling highly desirable. However, before you hire a designer or go to speak with a contractor, there are a few questions you need to ask yourself. Consider all of these questions and their implications to best go about planning your remodel.
With refinancing interest rates at appealing lows, you might be considering using your home equity as a means of making the home renovations you’ve been wanting. However, not all renovation projects come with the same rate of return on investment (ROI). Here are the top 10 home improvements for your Idaho home.
If you’re still working on your tax filing for this year or looking ahead to next year’s, you want to understand what the difference is when it comes to deducting a capital improvement on your home versus what constitutes a repair. These are two separate distinctions in the world of tax filing that can have an impact on the value of your deduction.
How much wear and tear can it withstand before the user starts to show? How much does it cost to fix the damages? How often do you find yourself paying for expensive repairs?
With maintenance costs cutting into your rental profits, you want to think long-term when it comes to upgrades and preventative maintenance. While the initial costs of these upgrades might be expensive, you’ll find you will save money in the long run through low-maintenance renovations.
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