Adding Value to Your Property With Home Restoration Services
After a disaster, most people are concerned with bringing their house to its former glory through home restoration companies. What if we told you that it can be the perfect time to get those renovations you always wanted to make?
Of course, the circumstances need to be just perfect, and you will have to be ready to kiss the insurance settlement goodbye (or at least part of it). However, you may save yourself a lot of money in demolition.
With 911 Restoration of Virginia Peninsula, home restoration doesn’t necessarily mean that we bring your home back to its former glory but can also include improving it. Sky is the limit with the improvements you can make because of our limitless construction and re-construction capabilities. Let’s take a closer look at these improvements.
Adding Value to Your Property Via Home Restoration Services
Not every home improvement helps you increase the price of your property. You need to keep this in mind when looking to add value to your property with home restoration services. There is always a danger of over-improving, which may lead to a decrease in price.
However, as a homeowner, you may be inclined to improve in your home for personal reasons. We recommend this type of improvement only when getting your home reconstructed, as you already have too much to deal with. There are three basic types of home improvement projects that home restoration companies can help you with:
- Basic home improvement
- Value-added home improvement
- Home improvements based on personal preference.
Most companies can’t provide home improvements for curb appeal because, as the name suggests, they are home restoration companies. However, some, like 911 Restoration, can help you with that, too.
Basic Home Improvements
Basic home improvement investments don’t increase property value as these are improvements that you would normally make in your house as a part of ‘detailed maintenance.’ Home improvement ventures revolve around these improvements when mitigating or recovering from fire damage or water damage. These include:
- Checking pipes for leaks
- Making sure the plumbing system is functioning
- Checking gas/water pressure
- Installing reliable furnace/thermostats/HVAC systems
- Ensuring floor and roof integrity
- Improving overall living conditions
- Any amenities that others in the neighborhood have, but your house doesn’t.
These improvements aren’t really ‘upgrades’ but steps to ‘maintain’ the property. After a disaster (such as water or fire damage, mold, and such), insurance can cover this damage. While keeping your house well maintained doesn’t increase property value, failure to do so may decrease it nonetheless.
Value-Added Home Improvements
These are home improvement projects that really pay off when looking to increase property value. However, you need to note that they aren’t covered by home restoration insurance after a disaster as you are having these done out of your preference, not an emergency. These include:
- New house siding
- Addition of a pool or basketball court
- Kitchen renovation
- Installation of new windows
- Upgraded bathrooms
- Refurbished decks and patios
- Energy-saving equipment
- Practical improvements (such as removal of a wall to improve the flow between the dining room and kitchen)
This is where you, the homeowner, get to be creative. Let’s consider the options mentioned above. For example:
- You can get a different design incorporated where needed. However, insurance will only cover the costs of replacing the old one. If replacement costs $500 and the new one costs $800, you will have to pay the difference from your pocket.
- If items have been damaged beyond repair, insurance should cover the new design as well (within reason). However, if it is reparable, you will get the repair costs reimbursed only.
- Upgradation costs will be yours to bear. Insurance will only pay for what is damaged.
- Insurance should cover the refurbishment and polishing costs.
- Removal of a wall to improve the flow or design won’t be covered.
These home restoration and improvement investments have the potential to recoup (at least) 80% of their costs when selling your house or may even help you get a profit if you’re really lucky.
Home Improvements Based on Personal Preference
Personal preference investments are sort of a gamble. They may or may not pay off and depends entirely upon whether the buyer is also just as interested in those improvements as you are.
Some personal preference improvements include;
- Additions of hot tubs
- Wine cellars or basements
- Game rooms
- Large landscaping projects (such as ponds or hills)
- Combining two or more rooms
These investments will not be covered by insurance under any costs.
There are several considerations to make when it comes to improvement with home restoration. If you are wondering about a specific home improvement plan and how home restoration companies can help if at all, we recommend you call 911 Restoration of Virginia Peninsula experts for a FREE quote. We have over 30 years of experience helping people get the home restoration experience they want and deserve!