Home renovations are time-consuming, costly, and complicated. Still, many homeowners choose to renovate their homes for a variety of reasons. Whether it’s an upgrade to their fixer-upper or a new kitchen they have their eye on, many people seem to have an irresistible desire to improve the quality of their homes. In fact, First Heritage Mortgage reports that 90% of homeowners say they plan to renovate or remodel their home.
If you’re looking at your property and couldn’t decide whether you want to make some changes or not, here are the top five reasons why people decide to renovate their homes:
Increase Livability And Comfort
The house’s livability and feeling comfortable in your house is very essential. Everyone wants to live in a place knowing that at the end of the day, they would be looking forward to going back to their comfortable and livable home. Your home should be the best living space. That’s why renovations that aim at offering comfort are highly necessary. When your home is still new, there is a high chance that it will have the required aspects that will generate comfort for the people living inside the house. However, when days pass, the comfort starts to deteriorate since you will begin desiring to replenish other things in your house to enhance the livability and comfortability that you had before.
Just like the same perks offered by the Fourth Avenue Residences Condo to its residents (spoiling with amenities, excellent connectivity, etc.), comfort at home and satisfaction are essential factors to consider that will drive you into making home renovations. One way you can do to increase home comfort, according to Tabor Design Build, is to install air conditioners and other essential installations that will boost the supply of air in your home. Having sliding glass windows is another as it offers you the choice of enabling free circulation of natural light and air. This means that people living in the house can easily view all the areas of the room without having problems.
Increase Property Value
For property renovation conducted with the aim of attracting homebuyers, it should be done properly to accomplish that aim. You will be able to increase value of your home automatically by renovating your home which becomes a great investment for your money and time. Alexandra Isham, a program manager in design at the National Association Home Builders (NAHB, Washington, D. C. told HomeLight that the key is to figure out what upgrades improve home value when the time to sell inevitably comes since your ROI “indeed depends on whom you’re selling it to and the type of house you’re selling.”
The same article also curated some high-ROI Improvements studies that can help attract homebuyers. These include making the home more spacious or adding physical square footage, enhancing the home’s exterior and curb appeal, adding fixtures that are updated and functional but cost less, reducing maintenance hassles (e.g., pumping up the HVAC, redoing the roof, and good-quality siding), and employing upgrades that are green efficient. These recommendations may seem to be helpful, but it is still vital to consult with local real estate agents to get advice on features that homebuyers are mostly looking out for. You can administer to boost the value of your home by more than the expense you will spend renovating it. Needless to say, it is evident that house renovations can be used as a way of increasing your investments.
Fix A Safety Issue
After living in your home for more than 20 years, it is in all likelihood to be flawed. One of the reasons why you would be interested in renovating your property would be to enhance your safety, your family’s, or potential homebuyers’ safety. There is a perception among homeowners, though, that most home renovations are only for luxurious undertakings. While this is true, some home renovations are very basic and elevate the safety of the house.
According to Ranger Roofing of Oklahoma, different parts of the property will call for different times of maintenance. Inside your home, you can prevent future failures of systems through renovations like, for instance, the oven, the HVAC system, security systems, and smoke detectors should be checked monthly. Every couple of months, it is also a good idea to provide your garden intensive attention to ensure no termite infestation can cause damage to your home. The landscape of the infrastructure is also an essential factor when it comes to making the property value up to standard. The roof of the abode is another critical part that should have full inspection at least twice a year, particularly after a bad storm. It’s vital to clean the gutter from debris and prepare the roof for any season especially during harsh conditions. Additions such as fire detectors and alarms also promote the safety of your house and that of the occupants. Every homeowner should make it a responsibility to make sure to renovate their old houses and make the property a secure living place.
Lower Electricity Bills
Rockwool explains that energy expenses are rising, and it is likely to continue going up. Thus, home improvements can help make your house more energy-efficient in many different ways. Introducing eco-tech and improving insulation are two of the simplest methods to reduce running costs and save energy. Property 24 added that many green modifications like installing low flow taps and showerheads are affordable plus the long-term savings may be significant. Although some energy-efficient renovations can cost more initially. For example, eco-friendly appliances may cost more to purchase but the savings over time could pay off for the initial expense. Also, you want to take a more cost-effective approach by maintaining a cooler house in the summer and minimizing your heating bills in winter. Older houses are notorious money pits in this scenario and simple fixes include insulating the attic and replacing all the windows (most older houses have little to no insulation in the attic).
Inquiries Journal recommends having a home energy audit either by a professional or the homeowner can be helpful in figuring out what can be done to boost energy efficiency. These audits include weatherproofing or weatherization, which protects a house from outside elements. The audit results can help the homeowner decide what type of weatherproofing renovations may be needed. The average fee for this may cost about $2,500. DOE, as cited in the same article, stated that savings are 2.2 times on average on what is spent on weatherization. Whether the audit is done by a professional or the homeowner, a very common fix is replacing or applying insulation. Good insulation can dramatically lower an energy bill, and if a property was built with poor insulation, new insulation can decrease air conditioning expenses by up to 50%.
Update Your Home’s Style
When areas of the property look are run down, they can make the entire home seem worn and tired. Like purchasing new clothes to change your appearance, over time, your house requires enhancing too. A humble facelift to the kitchen can do just that with a new door in a different color, adding a feature backsplash tile, or upgraded countertops. The bathroom is another key area for improvements that can be reasonably done by adding new plumbing fixtures, mosaic tile feature around the existing mirror, a new coat of paint, and wainscoting around the walls in either a lacquered MDF product or a tile can do the trick. Remember, this will also boost your home’s selling value.
Upgrading your house can be a whim based on a way to stage it for resale or the latest interior design trends. Whatever the case, the key is to maintain a classic style that is not only inviting to a wider market but would also stand the test of time.
All in All
The number of reasons why homeowners decide to renovate are limitless and may range from making their home more efficient or adding more space to fixing safety issues. It may be a tiny addition to a wardrobe or a complete upgrade to the home, but when homeowners determine it is time for a change, they turn to a lender to help make their remodeling project come true. Again, to enjoy the best home renovation designs and ideas, it is crucial to seek advice from professionals.