When you renovate or upgrade your home, there are a few things to consider before deciding the best way to spend your renovation dollars. For example, will the project make your home more functional or an overall better place to live? If you have four bedrooms and one bathroom, adding a second bathroom might tremendously improve the general living conditions of your home.
There’s also the consideration of keeping everything in a good state of repair and replacing worn-out components of your home. A roof replacement won’t necessarily improve the functionality of your home (unless the old one is falling apart), but it can give you the peace of mind that you won’t have to worry about leaks anytime soon.
Last, but certainly not least, is the issue of cost versus value added. Many popular home renovation projects are expensive. The National Association of Realtors estimates that:
- the average complete