Remodeling your home can be a colossal undertaking regardless of the square footage or layout. It can also be expensive, time-consuming, and stressful. But preparing your property for future years is crucial for countless reasons. For one, nobody in your family is immune to aging. And for two, the world has started integrating advanced technologies with timeless styles to usher in a new era of home design.
For homeowners, the unstoppable revolution means one of two things: Either remodel or regret. Those who neglect to at least make minor adjustments may fall far behind the property value curve. Future home buyers will most likely want updated home designs with ageless appeal and interesting layouts. So, investing in your property today is the best way to benefit tomorrow.
Why Remodeling Is a Wise Investment
Did you know that remodeling a single room in your house can boost the resale value by several thousand dollars? In fact, you can recoup most of your costs when professionals do the work. And that’s especially true if you choose the right projects.
Simple exterior renovations such as paint, window replacements, custom decks, new siding, and storm doors instantly improve a home’s curb appeal. But interior remodels such as kitchen expansions and bathroom additions help increase square footage and improve the flow. Meanwhile, kitchen and bath upgrades typically produce the highest return of investment (ROI).
That means remodeling projects of any kind are generally wise for the frugal homeowner. As property values fluctuate and buyer preferences shift, keeping up with the Joneses is essential. So, whether you opt for a quick renovation or a complete remodel, now is the time to do it.
What’s the Difference Between Remodeling and Renovating?
Aside from costs and timelines, there’s another significant difference between renovating and remodeling. Most project managers will expect homeowners to understand this distinction when developing a plan. Here’s what you need to know:
- A renovation consists of repairing or restoring something to its former glory.
- A remodel involves changing or adding something that wasn’t already there.
For instance, say you want to renovate your bathroom to include modern upgrades. That project might center on refurbishing the floors, replacing the fixtures, and painting the cabinets. But a full bathroom remodel might mean adding a modern shower, expanding the square footage, or changing the location altogether.
NOTE: The cost to renovate a home is typically less than the cost to remodel, but both can add value to your home and boost the quality of your life.
How Much Value Will Remodeling Add?
Here’s something to get your wheels turning. The average payback that a homeowner receives after selling their remodeled house is over 56%. In other words, smart people invest in their property and that property pays them back over half in the future.
At the same time, specific rooms and features can fetch even higher payouts in the modernized real estate market. Today’s homebuyer wants classic style combined with convenience, but yesterday’s architecture isn’t always up to par. And those looking for contemporary comforts or creative aesthetics may not find what want without your motivation.
3 Remodels That Will Increase a Home’s Value the Most
It’s understood that you have a lot on your plate as a property owner. Between general maintenance and upkeep, there’s little time left in the schedule or budget for major remodels. But consider this: some remodeling projects may pay for themselves in more ways than one. So, even if you don’t plan to sell your home in the future, having a cozy and functional place to live is what’s most important.
Either way, prepare your pad for the future and recoup most of your money when you choose one of these three intelligent remodeling projects:
#1. Complete Kitchen Overhaul
Smart appliances, eco-friendly cabinetry, natural stone countertops – they’re more crucial to whole home satisfaction than you may realize. Advanced technologies and conservative manufacturing married classical design and intuitive functionality a long time ago. Now our kitchens are finally catching up. And today’s homeowner can finally relax in style while simultaneously enjoying those modern conveniences.
#2. Bathroom Beautification
Bathrooms are the modern home’s oasis, which means homeowners need to take advantage of the trend. Interior designers can create relaxing retreats out of rooms used primarily for utilitarian purposes. Changes aren’t limited to paint colors, lighting, and fixtures either. Today’s conscientious homeowner is busy remodeling their bathroom to include jet powered soaking tubs, thermostatic shower systems, and energy-efficient toilets.
#3. Expanded Living Spaces
People want more room to move around, so they seek homes with lots of common living space. Houses that feature large living rooms, spacious dining rooms, and extended porches fare well on the real estate market. However, they’re also a pleasure to live in and decorate. Vast common areas provide greater opportunities for entertainment, learning, and recreation while being gorgeous and practical as well.
You’re not limited to kitchens, bathrooms, and room additions, by the way. Other potentially lucrative and conceptually astute remodeling projects might include:
- Converting unused square footage into extra storage or supplemental living space
- Creating a loft as a workspace, play area, or guest quarters
- Constructing an open plan for better flow or closing an open plan for better privacy
For tips on how to make your home fit for tomorrow, contact an interior designer or contractor today.
Why Waiting to Remodel Your Home for the Future Is a Bad Idea
Waiting to remodel your home might be a grave mistake. According to the Harvard Joint Center for Housing Studies, the home remodeling industry is booming. Plus, experts predict an uptick in spending between 2021 and 2025 as new technologies meld with trending designs. So, now is the perfect time to begin planning your next project.
Homeowners who wait too long may be met with material shortages, higher prices, and more difficult schedules as supply attempts to keep up with demand. Put simply, contractors might soon be overwhelmed with orders for property upgrades, which could make it harder for clients to align desires with due diligence.
NOTE: Although you can get a fast quote, most design builds require at least a few weeks of planning to get started.
How to Build a Home for Tomorrow Today
Building a home for the future doesn’t mean making a space that’s fit for the Jetsons. However, it does mean cleansing your space of outdated features that complicate your life and hold your finances hostage. So, contact the award-winning team at Cornerstone Remodeling today, and enjoy peace of mind in an upgraded home tomorrow.