The Renovation Squeeze..Was the Investment Worth It? Return to Articles
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One of our goals is to purchase property in the Northwest, but not until our daughter graduates from high school. Knowing we will be in our current home for another two years, we still have a list of renovation projects we want to tackle. We are inspired by sleek European design and throughout the years we invested in upgrades to modernize our interior. The one room that still screams outdated is our master bathroom, with its coffee-colored paint and the original builder 6x6 cream, porcelain tile tub surround. Our amazing charcoal gray and white tile samples have been in the corner for over a year and my oversized navy blue paint swatches have been on the wall even longer.
While we are motivated to complete this project, it continues to get pushed down the list due to finances. We are savers; we plan for our larger expenses, which means something always comes up that takes precedence over our bathroom remodel. But then I came across this article by Dori Zinn on Bankrate.com listing several finance options for home improvements . What’s helpful about her article is that she provides some pros and cons about each alternative, so you can determine what is right for you.
As with all of our other projects, when the time comes, we will enter the details of our bathroom remodel into our RezDox Home History Log . Looking at our RezDox Dashboard, so far we have spent $51,855 on our home maintenance and improvements, of which $27,846 has contributed to the equity growth in our home’s market value. Not only does RezDox help us manage our contractors and product details, but also more importantly, we have been able to instantly track the equity we have gained with each project. Beyond the enjoyment of our beautiful new space, understanding the ROI of each upgrade makes the time and investment worth it.
If we choose to sell our house in two years, we will be able to provide our Realtor and future homebuyer a digitized report on our home history. This information will be invaluable in determining our home’s selling price, supporting the appraisal value and also provide peace of mind to the new owners, as we will transfer all of our details over to them. If you are in the midst of home improvements or simply want a better way to digitize your regular maintenance, I encourage you to create a FREE RezDox account.
RezDox is a social networking website focused on the residential real estate industry, helping homeowners manage their home's history, contacts and investments. Our mission is to encourage homeowners to connect, document, report and understand the equity built into their greatest asset. Contact us so we can help you create a FREE home history report for your property.
Co-Founder CEO, RezDox
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