Should You Remodel Your House?remodel pic of blueprint and tools

Do you need more closet space, need another bathroom for your growing family, or simply want to increase your home’s value? Here are some factors to help you decide.

If you’re contemplating remodeling because you want to sell your home, focus on cosmetic changes instead of functional ones – they’re more likely to draw buyers. For example, people who replace garage doors get 98.3% of their value back in sales dollars, while replacing wood windows returns only 69.5%. To make your property more attractive for sale without spending too much money, skip remodeling. Instead, fix anything that is broken, remove personal touches, declutter, deep clean, paint in neutral colors, refinish floors, and replace aging hardware and fixtures. A remodel may force you to set a much higher asking price than the other homes in your neighborhood, and you’ll have a much harder time selling your home. To determine a reasonable asking price, check recent listings in your neighborhood to see current prices.

If you want to enjoy your living space more, first ask yourself what you want to change. If you want to replace your tub with a walk-in shower or finish your basement to create a family room, remodeling may be for you. If you want to add an in-law suite or replace your galley kitchen with a chef’s kitchen, moving might be a better option.

Make sure your house can handle the changes you want. Then compare those costs to the cost of selling your home and buying another. If remodeling is better for you financially, then staying put is the answer.

The following steps will help make your remodeling project run smoothly:

  • Start with design ideas, the more specific the better.
  • Decide whether to combine functional home changes with your remodel.
  • Research materials and contractors to come up with a reasonable budget.
  • Determine how you will pay for the project.
  • Consider a fixed rate second mortgage loan or a Home Equity Line of Credit
    • One or the other may have benefits that fit your situation best.
  • Check with your local Dept. of Permitting to see which permits you’ll need.
  • Decide how you will tolerate the disruption to your daily life.
  • Ask yourself whether you can remodel while keeping your home’s design consistent with the neighborhood aesthetics?

Whichever way you decide is best, give us a call to see if we are able to assist you with your projects, 303.234.1700 | 800.279.3288 or apply online at

Source:, article by Tracy Curtis and enhanced by Credit Union of Denver