Renovating Your Montana Home the Right Way  

by Pool Builders on 03-01-2011 in Articles

Television shows documenting the extravagant lifestyles of the rich and famous have created an illusion in the average American's mind about the appropriate and realistic renovations to make in your home. While improving aspects of your Montana home can result in an increase in property value, pursuing extravagant projects might not be the best idea, particularly in an area that is not in the Beverly Hill suburbs of California or the brownstone neighborhoods of New York. Rather, it may actually detract from the value of your home. Though these large-scale luxury projects, such as a swimming pool, might appear to raise the value your residence, it may actually lower the attractiveness to potential homebuyers.

One of the strongest motivations for undergoing a home improvement project is to increase the selling price of your home. By improving and making over your kitchen, your living room, or your backyard, you will ensure that your entire home appears to be much more attractive to your potential buyers. Real estate relies on this approach--purchasing property at a much lower value and improving the home to increase the property value so that you can garner a profit. As a homeowner, you can take this approach yourself by pursuing certain projects to raise the value of your home so that when you decide to sell your residence, you will be able to make some extra cash from it.

While this is a great approach to real estate, pursuing the wrong projects may result in financial loss. Home renovation can be expensive, with a minimum investment of a few thousand dollars to even hundreds of thousands of dollar if you are completely transforming your home. With the right approach to renovation, your investment of a few thousand dollars can reap you benefits a dozen-fold. First, selecting the right contractor is vital. The quality of the project will depend on the skills and experiences of the contractor. If you want your kitchen to be done right, having someone with the skill set to make that vision into reality will be necessary. Moreover, if the contractor you have hired lacks the skills, his crew may squander your time, resources, and money. You will have to eventually find a contractor that will satisfy your construction needs, anyways. Thus, rather than seek to save a few thousand dollars, ensure that you have made the right decision in choosing someone who can carry out your plans.

Moreover, pursuing extravagant projects may not necessary result in an increase in your home's value. Rather, it may simply be seen as overtly pretentious in your modest neighborhood, particularly in a state like Montana. Additions to your home, such as swimming pools, apartment attachments, and excessive landscaping, may scare away buyers because they might see these luxuries as an additional item to be taxed for. The higher property taxes might deter them from even considering your home. Plus, these renovations of luxury require additional maintenance and care, which also will need to be factored into the buyer's budget. The buyer might not necessary be able to afford these luxuries and may choose to buy a home that appears to be more affordable.

Leave a Comment

List YOUR Pool Business