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Should You Remodel Your House?

Do you need more closet space, need another bathroom for your growing family, or simply want to increase your home’s value? Here are some factors to help you decide.

If you’re contemplating remodeling because you want to sell your home, focus on cosmetic changes instead of functional ones – they’re more likely to draw buyers. For example, people who replace garage doors get 98.3% of their value back in sales dollars, while replacing wood windows returns only 69.5%. To make your property more attractive for sale without spending too much money, skip remodeling. Instead, fix anything that is broken, remove personal touches, declutter, deep clean, paint in neutral colors, refinish floors, and replace aging hardware and fixtures. A remodel may force you to set a much higher asking price than the other homes in your neighborhood, and you’ll have a much harder time selling your home. To determine a reasonable asking price, check recent listings in your neighborhood to see current prices.

If you want to enjoy your living space more, first ask yourself what you want to change. If you want to replace your tub with a walk-in shower or finish out the attic space above your garage to create an additional living area or game room, remodeling may be for you. If you want to add a mother-in-law suite or replace your galley kitchen with a chef’s kitchen, then research all the pros and cons of such a big remodel. Moving might be a better option.

Make sure your house can handle the changes you want. Then compare those costs to the cost of selling your home and buying another. If remodeling is better for you financially, then staying put is the answer.

The following steps will help make your remodeling project run smoothly:

  • Start with design ideas, the more specific the better.
  • Decide whether to combine functional home changes with your remodel.
  • Research materials and contractors to come up with a reasonable budget.
  • Determine how you will pay for the project.
  • Check with the city planning or parish planning department to see which permits you’ll need.
  • Decide how you will tolerate the disruption to your daily life.
  • Ask yourself whether you can remodel while keeping your home’s design consistent with the neighborhood aesthetics?

CSE has a number of mortgage options to fit your needs. Call today!
CSE Mortgage Lenders
Esther Abrahams, 337.562.3181 — eabrahams@csefcu.org
Amy Hannon, 337.562.3330 — ahannon@csefcu.org

CSE Construction Loan Officer
Jeff Johnson, 337.562.3230 — jjohnson@csefcu.org

Written by  Tracy Curtis, July 26, 2018 / Modified for CSE by Liz Trahan,  August 20, 2018