I wanted to start off our rebranding efforts with some really slick videos of all the works we've done since the tornado wiped us off the map, but for now we're going to have to live with a quick video highlighting a small home refresher we've recently done.  This project was done in one day and cost the homeowner less than 300 dollars.  As they said, "totally worth it!"  We think so. 

Crown moulding is such a beautiful and simple way to finish off the look of any room, quickly and economically and its a great home remodeling project because it can be done so quickly and economically.

Enjoy!

Today we’re going to look at home improvements that have the best return on investment, or ROI.

Meet the basement addition.

The current real estate market throws conventional wisdom on its ear. There was a time when high end kitchen remodeling projects had incredible ROI, and while a standard kitchen remodel still maintains about 78% ROI and a highline kitchen remodeling project nets a modest 63% ROI, the absolute best ROI these days comes from adding living space, rather than remodeling current space. Even though we in the Birmingham metro area have been spared much of the carnage of the national real estate market, national trends reflect a growing trend towards home additions even in traditionally strong markets such as we find in communities like Mountain Brook, Vestavia, Crestwood and Homewood.

This isn’t to say that you should neglect a bathroom remodel if the room warrants it.  A bathroom or kitchen remodel might be exactly the thing your home needs to remain modern and functional or to help you sell your home, but if you’re on a limited budget and want to get the most bang for your remodeling bucks, consider a home addition to gain the maximum ROI.

Refinish the basement.  Instantly and easily add a significant amount of living space with a simple basement remodel.  The basement is a perfect space to expand into.  Whether you envision the space being partitioned out into multiple rooms such as a bonus room, workshop, extra bedroom, home office and a half bath, or would just love to put a big old game room down there, you’ll find a number of homebuyers are extremely receptive to paying more for a house that has these additional amenities.

A basement remodel allows you to explore a number of possibilities: Flooring, partitions, plumbing; all of these are quite simple to install in a basement and what you can do with the space is eclectic and depends on your budget and your tastes.  A man cave with a basic half bathroom can be as simple as adding a few walls and a few pipes, fixtures and a door, or your basement remodel can be as elaborate as finishing in the entire space and making a whole little apartment down below, complete with can lighting, crown moulding and wall-to-wall carpeting.

According to a 2009 study conducted by Remodeling Magazine the ROI for a basement addition is a solid 75.4% nationally and a whopping 82.6% in the southern states which makes a basement addition in the greater Birmingham metro area a very cost effective way to add living space and boost the resale value of your house.

Your next step in the decision to expand your living space is to figure out your budget, which should be no more than 15% of the home’s existing value for maximum ROI, figure out exactly what you wish to have done and then consult with a local home remodeling contractor to get a free bid on your work so you’ll know exactly what the job will entail and what your expected costs should be.

 
Source: “Remodeling Cost vs. Value Report 2009-2010.” Remodeling Magazine. 2009. 15 Sept. 2010. http://www.remodeling.hw.net/2009/costvsvalue/national.aspx