Home remodeling and home repair in Birmingham AL is a big business, and it stands to reason why. It is an investment that provides a reasonably quick return on the investment and has a tendency to increase the value of the home when and if it is put on the market.
Although the costs associated with the remedial work will be recovered, do not expect it to happen in the first year or so. Typically the expected return in two years is about 80-90 percent of the investment but the longer you stay in the home, the better the return due to the magic of compounding. By being in the home longer after the repairs have been made, the real estate market has a longer time to grow hence you leverage your investment as property values slowly increase.
When you consider home repair in Birmingham AL there really are only three things to consider;
1. How does the project impact the appraised value of my home?
2. How long do I expect to continue living here?
3. How strong is the real estate market in your area?
There are a number of reasons to undertake projects; there are those that add curb appeal to your home, there are those that are done to raise the appraised value and there are those that fall into maintenance and repair.
Home maintenance and repair projects are those that often have to be made so that the structural integrity of the house is not compromised. These things include the roof, electrical upgrading, replacement windows and exterior decorating. These are the types of projects that really have to be done because a potential buyer looks for these things before they look at the eye candy. Trying to impress a professional home inspector with a newly renovated kitchen while the roof is leaking will not get you far. What is important is to look after the critical items. If the structure is not in good condition the chances of finding a buyer who will pay what you are asking is remote, if you can even get any offer.
Some of the issues that must be attended to include:
1. Make sure the roof and flashing are good and that there are no leaks.
2. Make sure there are no loose or missing bricks in your chimney.
3. Make sure the gutters and downspouts are flowing freely and are not damaged or rusted through.
4. Repair any cracks in the foundation or basement floor.
5. Make sure that all the plumbing is solid and that all the fixtures are in good working order.
6. If necessary, upgrade the electrical system to at least 100 amps.
I think you get the idea, get the house in tip-top shape, look at it through the eyes of a potential buyer and then do it, then you can move on to the cosmetic improvements.
