Green Home Remodeling – Best Real Estate Investment Strategy for Commercial Property and Homeowners
Green Home Remodeling: Best Home Renovations for Consideration
Green home remodeling has experienced a rise in popularity across the region as many homeowners and commercial property investors seek to improve the appearance and durability of their property structures. I’ve come to truly understand why as well. Green renovations such as bamboo flooring or implementation of alternative wind energy usage provide long-lasting and favorable enhancements to properties that are sustainable, trendy and eco-friendly. Additionally, earth-friendly renovation and remodeling costs have begun to drop as more green contractors become available on the market.
Best Green Home Remodeling Projects to Consider
Consider green home remodeling for your property when it’s time to renovate. Eco-friendly renovations that won’t break your budget are not only attainable, but can provide an increased ROI, or return on your investment, with the right strategies. The key to getting a proper return on investment is to consider the types of maintenance and work needed for the house, the best options available and the neighborhood in which your property is located.
Essentially, there are five basic types of home remodeling projects: home maintenance, curb appeal, neighborhood norm, appraisal booster, lifestyle improvement and “green” improvement. For the record, some of these improvements may intersect with others, but overall, the ones that are most important to consider are home maintenance and appraisal booster.
Home maintenance repairs are those that would manage the home’s condition and are pretty routine to the lifecycle of almost every house. Home maintenance renovations would include projects such as roof repairs, flashing roof leak repair, weather-stripping and storm door repairs. If your gutters, plumbing fixtures, and other “everyday” shelter needs required work, these would all fall under the umbrella of normal home maintenance and repair.
Appraisal boost renovations provide a quick turnaround and prepare a home for quick flip investments. Appraisal – focused renovations do not seek to over-improve your home, but simply increase the value of your home through major remodels that upgrade the quality of life in the home to a competitive and comparable level in line with market comps. In other words, you’re remodeling to “meet the Joneses,” not outdo them. Here’s an example:
Let’s say you purchase a 3 bed, 2 bathroom home in Todt Hill, which is a relatively middle-class community in Staten Island, New York. When you purchased the house several years ago, it was relatively normal for all of the homes to have 3 bedrooms and 1.5 bathrooms. Now, you’re looking to sell the home and move to New Jersey. However, you discover that recent homes that have sold in the Todt Hill area are 3 bedroom 2.5 bathrooms and granite countertops. Guess what? You’ll probably have to consider renovating your house to add another full bathroom and see about getting granite countertops to match the current market demands.