"When Geoff and I decided to remodel our home, we went on a tour of remodeled homes and there we found Joe."
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The Art of Remodeling
Tips

Just ask Joe.

6 tips to help maximize return on investment.
A big concern of those who are considering investing in a home remodeling project is how they can be sure it will pay off. A few years ago it seemed as if you could count on getting the majority of your money back for most home improvement projects. According to Josh Garskof, a contributing writer for Money magazine, it seems like making a simple repair, such as replacing a toilet seat, can feel like throwing caution, and cash, to the wind. A study from Remodeling magazine revealed the average return on value for home upgrades and improvements declined from 87% in 2005 to 64% in 2009. CNN Money posted these six rules to consider that can help you maximize your return on investment for remodeling projects.

1. Repairs get the biggest returns: Take care of problems like leaks in the roof or plumbing issues first. Yes, buyers will appreciate enhancements like a Jacuzzi, but if problems are found during inspection, you could be asked to pick up the tab for repairs. Saving $20,000 by putting off a roof repair could turn into a $30,000 credit to the buyer at closing, according to real estate appraiser Jim Amorin.

2. Remodeling beats adding on: Rather than adding on, you're probably better off to repurpose existing square footage by reconfiguring the floor plan, or finishing an unused portion of the basement. For example, if you want an eat-in kitchen, consider having the wall between the kitchen and dining room removed.

3. Eco-friendly upgrades can save cash: Green improvements can actually begin to pay you back much sooner than other home renovations. Most energy-efficient features have a federal tax credit (lasting through the end of this year), plus local rebates and tax incentives could be applicable. These types of renovations pay for themselves in five years, but you can expect to see lower energy bills within a short amount of time.

4. Tech infrastructure trumps cool gadgets: Anytime your walls will be opened up for a construction project is a prime opportunity to have cabling and Ethernet ports installed. Generally, this costs about $80 per room and offers the ability to support whatever technologies come along.

5. Let the Joneses be your guide: Kermit Baker, director of the remodeling futures program at Harvard University's Joint Center for Housing Studies, says these days you must "keep your house's amenities in line with the neighborhood." For instance, if your neighbors have marble countertops, you should consider adding them to your home. Keeping projects design-neutral is another way to increase your home's appeal to a larger number of people if you need to sell at some point.

6. The new payback time is five years: It's important to remember that it takes some time to see the return on investment for home improvement projects. Typically, the payback time is around 5 years.

With careful planning and research you can get the most for your money in your remodeling investments now and in the future. Are you considering a remodeling project? Contact J.A. Ratto Builder. We would love to discuss "The Art of Remodeling" with you.

You CAN save money on remodeling projects!
Regardless of your reason for a remodeling project, you want to get the best value, right? With careful planning and good communication with your contractor, you will have a completed project that you will be proud of that is within your budget. Here are some tips compiled from Joe Ratto and the Master Builders Association to help you save on your project:

• By spending time on the design of your remodel, you can save the most in this area. Nailing down all costs prior to any demolition a key in saving money when planning a remodel.


• About 1/3rd of a remodeling budget is driven by client specifications – such as cabinets, plumbing fixtures, lighting fixtures, and countertops. One way to save money here is to make substitutions, if they are accept able. For instance, you want the look and functionality of slab granite countertops, but the price is not within your budget. Granite tile offers the same functional utility for 1/3rd of the cost. You can get the same kitchen for less with minor changes. Spending less on appliances is also another way to save some money.


• Your contractor is a great resource, so don't be afraid to speak up and ask questions. Communicate with them and be honest. If something is outside of your budget, talk with them so you can massage the budget into something that works for both of you.


• Remember that remodeling is an investment for today and the future. Remodeling your home can allow you to enjoy your space, as well as providing a higher resale value.

With proper planning, you can save money on your remodeling project and your project will result in a higher

Got a question about remodeling? Contact us! We would love to discuss remodeling with you.

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