What do you do when you want a new house but can’t afford to move?

Many La Plata County residents are deciding that remodeling their kitchen or bathroom or adding a room to their home can be a better option than buying a new home, especially with the area’s tight and expensive housing inventory. Plus, remodeling an existing home gives homeowners a chance to add their own character and personal touches.

While remodeling projects aren’t cheap, they can pay off for homeowners.

According to the Remodeling 2014 “Cost vs. Value” survey, every $1,000 spent on home upgrades can increase a home’s resale price an average of $661.

The report also lists the most valuable upgrades for Colorado homeowners: converting an attic into a bedroom, adding a second story to a home, adding a family room, adding a deck and remodeling a kitchen.

Many remodels can be costly, so do-it-yourselfers tend to have a financial advantage. However, several local building contractors are available to help those who want to leave these extensive projects to the professionals.

For instance, Alex Kogan, owner of Kogan Builders, has been in the construction business for about 16 years and has worked on both new construction projects and home remodels, he said.

Most of his business – about 70 percent – involves new construction. The other 30 percent is home remodels and additions, he said. This year, he’s done a handful of remodeling projects.

Among his clients, Kogan said most popular projects are kitchens, bathrooms and additions to their homes. He said quality kitchens and baths are a valuable remodel that can add equity to a home.

Owen Dake, who co-owns Skywalker Construction with Luke Hanson, has a few residential remodeling projects under his belt. The company is remodeling a few apartments above Steaming Bean Coffee Co. on Main Avenue to convert them into one open space.

Kelly Kniffin, president of the Durango Area Association of Realtors, said when buyers enter a home and see a spacious remodeled kitchen or bathroom, it removes the burden of potentially having to remodel those spaces themselves. Kitchens and bathrooms are some of the more important features homebuyers look for, she said.

Also, depending on the area, homebuyers tend to look at exterior living spaces such as decks and yards, she said.

Don Ricedorff, broker associate with the Wells Group of Durango and spokesman for the Colorado Association of Realtors, recommends not going overboard with personal touches and unnecessary add-ons.

Projects such as adding finish to hardwood floors and replacing old vinyl, which can cost about $4,000, can help increase a home’s value, especially if it’s an older home.

However, Ricedorff said kitchen and bathroom remodeling projects, while valuable, can get expensive. He advises homeowners considering larger projects to be selective.

“You don’t have to have the gourmet kitchen in a $350,000 home, he said.

Ricedorff remodeled a 1950s home by adding new stainless-steel appliances and changing the countertops. You don’t have to go with granite, he said. There are less expensive alternatives.

“We got full market value for the home,” he said.

If you are remodeling strictly to resell the home, you probably shouldn’t put in a pool or a hot tub, he said.

Keep in mind that indoor repairs aren’t the only ones that add value. Improving a home’s landscaping can make a big difference.

Real estate gurus agree that a well-kept yard has a certain “je ne sais quoi” to it.

Curb appeal makes for a buyer’s first impression.

“It really sets the mood for the condition of the home before (the buyer) walks in the door,” Kniffin said.

Little outdoor improvements such as adding potted plants and repainting the front door can increase a home’s curb appeal, Ricedorff said, adding these projects offer the best return on value.

Realestate.com agrees. The website lists “boosting curb appeal” as No. 6 on its list of projects to increase property value. Among the projects the website suggests are having a manicured lawn, lighting and planting flowers or trees.

No. 2 on the list to boost a home’s value is replacing garage doors, siding, doors and windows.

Some fancier projects include things such as upgrading windows, tile or glassware or adding a fireplace. Adding an awning or a hot tub also can help modernize your home.

Malaika Mestas owns Smart Enterprises on Main Avenue and has been in charge of the business for 17 years. The company specializes in diverse remodeling services such as adding sunrooms, awnings, fireplaces and hot tubs. The company works with homeowners and local contractors.

Smart Enterprises refocused its business during the recession. “Don’t move ... remodel” became its slogan, Mestas said.

During the market crash, many homeowners became do-it-yourselfers, she said.

It was important for residents to understand that they didn’t have to move out of their homes – that they could simply enhance them, Mestas said.

She said replacing doors and windows with energy-efficient glass has been a popular demand from her customers.

“People are remodeling in ways they didn’t before,” Mestas said.

The most sought-after home remodeling projects the company sees are: shower and mirror glass replacement, insertion of fireplaces and woodstoves, hot tubs and sunrooms, she said.

“People are looking toward an open-concept living,” Mestas said.

More and more she’s seen homeowners wanting to expand their bathrooms, create open space, build awnings and pergolas to enjoy outdoor time in comfort.

From Mestas’ experience, homeowners can see the difference small changes can make to the value of their property.

“People see the value of putting equity into their home by adding updated products – by changing the look,” she said.

vguthrie@durangoherald.com

On the net

www.costvsvalue.com