As we watch the ups and downs of the financial markets the question in many peoples' minds is, “What is a safe investment?†This is a perplexing topic, especially for those who do not have too many years to go for retirement. When faced with this dilemma one of the best ways to go is to invest in your own backyard.
There is an old fable about a dying man's news to his two irresponsible sons. He informed them that there was gold buried in the olive grove but said he couldn't remember where he had buried it. As well, he told them that they must keep the trees well cared for to provide a living for them while they searched for the gold. After ten years of searching in vain for the gold they realized that the olive trees had provided them with a very good living and that their father had tricked them for their own good. They had invested in their own property and it had paid off. This is not too far-fetched a story. When you consider that the return on a kitchen remodel is around 90% of the money spent and a bathroom remodel is not too far behind that, this is a good investment on your money.
When building a new home a general contractor takes a set of blueprints and builds from the surface of a graded lot. Everything is new and level with the earth. A home improvement contractor, on the other hand, is a specialized trade in that he or she must assess what the builder of the structure has done before beginning a project. This is because only in rare cases are the blueprints still available for the home. And in century-old homes this becomes difficult because the lath and plaster walls hide a lot of the structure of the home.
Structure
The first thing a home improvement contractor has to do before providing an estimate is to size-up the structure and foundation. If it is a room addition, where a new foundation has to be built, then he or she will see how to attach the new addition onto the existing structure. If the contractor is building an apartment upstairs or a basement suite then to checking the foundation would be one of the first priorities. The structure would have to be able to hold the added weight and, if not strong enough, it would have to be braced or strengthened from within.
Infrastructure
In a new addition or remodel the electrical, plumbing, drainage and HVAC has to be taken into consideration. If the remodel is in the basement or the garage this is not much of a problem as the source of the utilities is close. The main concern would be if the basement renovation were below grade, which means below the level of the sewer line. If so then a special pump would have to be installed if a basement bathroom were in the plans.
A room addition would extend the length of almost all the utilities. As an added precaution the utility company would have to be called before any digging took place because there could be gas or water lines in the area.
Roof
If the renovation project was going up a story then it would be two processes in one: demolition and renovation. The whole roof would have to be taken off the original home first before the new walls and roof would be built. In many cases the old structure could not be reused in its original form because building codes change. For example, the roof trusses of today are more elaborate and stronger than the ones of even thirty years ago. This is the most difficult of all the renovation projects you could do and definitely the messiest. In fact, many contractors would require you and your family to move out while the work was being accomplished.
If the project were a new room addition on a one-story home then the roofline would have to be altered. The degree of difficulty would be depending on which side of the home was being remodeled. For example, if the gable end were being extended then trusses would be added to horizontally. However, if the room was out the side of the home then a dormer-style extension might have to be cut into the existing roof. In either case the entire roof would need to be redone because it would not look right to have an old and new-looking roof.
Whatever renovations you might want to do the value of you home depends on keeping them tasteful while accommodating your own needs. Remember, you are fixing this home up for yourself but you are also adding to your investment. And that increase in value will only be revealed in how the home will sell even if you have no intention of selling it right now.
For more information on home renovations consult our Contractor Directory or post you project on line and our qualified professionals will contact you.
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