Remodel Now or Wait?

By: Allison Millar, Contributing Writer
In: Necessary home improvements
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Is this a good time to remodel? If you’ve lived with an avocado kitchen or drafty windows for a few years, you’ve asked yourself that question. The answer depends on several factors–the extent of the home improvements, how necessary they are, and your financial situation.

Remodeling is on the Upswing

According to Remodeling Magazine, more people are planning to remodel during the next 12 months when compared with previous years. A recent study showed a 13 percent increase in those figures (pulled from interviews with 5,000 home owners).

Bathroom Remodeling Tops Poll

One surprising aspect of that study was that kitchen remodeling was not the top dog. The most popular project on the wish list now is adding a bathroom. If you’ve ever suffered through a morning with people fighting over one bathroom, you know why!

Regardless of your home improvement needs, start by assessing your situation. Are your remodeling projects urgent (leaking roof, broken furnace) or wishful projects? How is your job security? Is there a quick fix or is a major remodeling the best route?

Take your bathroom, for example. If new paint, bath mats, and a shower curtain can tide you over, why not wait a few months or a year? If the tub is always clogged and the shower sends drips of water instead of streams, then the time is right for remodeling. Try the National Association of Home Builders for more remodeling suggestions.

Remodeling: Check Your Finances at the Door

Remodeling is not free, so you need to weigh finances in this debate. If you’ve saved for this project, look at how much you have compared with the project costs. Before you move ahead with bathroom remodeling, compare your available funds with the cost of construction. Try this handy HGVT calculator to estimate project costs.

Remodel now or wait? It’s always a tough call, but it helps to understand your goals and finances. The rest quickly falls into place.

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