If you are feeling cramped in your home and feel that you have outgrown it, the option you would think of is moving to a new house. But the current housing market is such that it is not easy to find one, you need to spend some time to find the perfect home. Even otherwise if you are looking to put your house on sale or to improve the comfort of your living a renovation of your home will offer many benefits. If you are still confused about whether it is worth investing your time and money in this project here are a few benefits a renovation offers that you should know.
Benefits Of Home Renovation
- Increases property value: One of the costliest and the largest investment a person makes in his/her adult life is buying a home. It is important and the most cherished milestone too. A home is also considered as an investment that provides great returns. You may look to put your home on the market for selling or not it is a solid investment that will give you great results in the future. It may also enhance your living comfort by providing more space and also meet the needs of the future prospective buyer. A good-looking renovated house adds value to the property when it is time to sell. A simple renovation or remodeling will increase the value of your property.
- Adds comfort: For your house to be called your home, comfort is the most important aspect. Renovating your home only because it adds value to the property or will sell for a much better price later means, it is considered as a showpiece for others. By renovating your home to add comfort makes it more enjoyable to stay and make memories. By adding more space it makes the house look more practical and functional too. Home renovations need not be a large scale project it can be a partial one too like adding a home theatre or removing a wall to make a space larger. It has the potential to make the people living in the abode happy.
- Increase living space: The living space reduces as the family grows and that makes the house you are living in smaller and cramped. The resulting frustration may make you want to move, but instead of making such harsh decisions it is better to call expert renovators like ActonADU.com who can help you come up with a design that will increase your living space by maximizing the area available and make it look roomier. By adding more space there will be an increase in the square footage and also enhances the beauty of your home. If your current layout does not provide enough privacy to your family members, renovation helps in doing so.
- Make it more energy-efficient: Energy bills are on the rise and homeowners should do everything they can to contain it as it is likely to rise even more in the future. By renovating your house and adding new insulation, windows, heat pump, etc. you can save money. If the current doors and windows are worn out they will be losing heat and you will have to use more energy to keep your home warm. If those are replaced during renovation it helps to increase the energy-efficiency of the house.
- Makes the home safer: Sometimes renovating the house cannot be postponed any longer. Some of the emergency situations are cracks in the foundation which can potentially lead to damage to the entire house, leaks in the roof which can weaken the entire house, certain electrical problems which are not only a danger to the house but also to the people living in it. Under these circumstances, there is no choice but to start the project immediately so that there is no loss of life or income and also to keep the family safe.
- House updated to latest trends: If you have an old home it may look plain or outdated despite being located in the best location. That not only makes it look attractive to the buyer but also to the family living in it as everyone wants to live in a trendy house. Update your housekeeping in mind your preferences and incorporate the latest trends and live in style. It also adds value to the property if you want to sell it in the future. It also means adding the latest appliances that look good and are more energy-efficient making it eco-friendly.
- Customize it as per your taste: When you buy an old home there will always be something that you want to change as it is not as per your taste. When you renovate the house it gives you the chance to change it as per your liking and personal style. It can be a new landscape for your backyard, a new gate or a coat of paint it reflects the homeowner’s taste.
- Affordable financing: Not everyone who undergoes a renovation project for their home has all the money in hand many of them also opt for financing. The financing is done against the home’s equity and now is a great time to take one as the prices of housing are on the rise. Additionally, renovating your home is much better than hunting for a new home which is stressful. Instead of spending all that time and money on looking for a new one you can upgrade the existing one and customize it as per your taste and style.
Why renovating is better than moving?
Renovating a house is not something many people are keen to do but the main benefit is cost-effectiveness, here are some of the reasons why moving to a new house does not make much sense.
- You may not find what you like: There is a lack of inventory in the housing sector which is considered to be one of the reasons for the home prices increasing. When that is the case, you will not have many options in the location you are searching that means you will still end up being dissatisfied even if you buy a new home.
- You may have to make compromises: Since there is a shortage of homes, you may have to leave your current location if you can’t find one that suits your needs. You may find a house that suits all your needs but the location may not have a good school, or may not be close to your work location or your family does not like the neighborhood.
- Moving is stressful: Moving to a new home is time-consuming as it involves a lot of activities. It starts with months of searching for the perfect home, then checking financing options, selling the current house and much more. Packing and unpacking and the settling period all lead to lots of stress. Is it worth it?
- Moving is costly: There are many expenses attached to moving to a new house despite getting one within your budget. There are many costs involved in selling a house which includes paying a commission to the real estate agent. Apart from that, there will be moving costs like new furnishings, cleaning and transport costs, etc to old and new ones.
Tips To Renovate Your House
You may be renovating your house to make it sellable or to make it make comfortable here are a few tips that can help.
- Have a plan: The plan can be done by a professional architect or by yourself because a plan will ensure that you don’t go overboard. Like any other project, a home renovation project be it big or small should have a plan. It is one of the things to do before starting the project and not after.
- Budget: It is essential to set a realistic budget and a limit over which you will not exceed. Based on that you can start adding or removing your requirements. Research for the things you need so that you can set aside the right amount of money.
- The biggest supplier is not the best: Don’t get fooled by the stylish websites and brochures as that does not imply quality. Conduct thorough research before hiring anyone to ensure quality work.
- Get multiple quotations: Ask for multiple quotes from renovators as traders quote many prices and it can vary by hundreds of dollars sometimes.
- Use the bargains: A little planning will help you minimize the cost of materials. Instead of waiting till you start the project when there is a bargain deal don’t miss it as that can help in saving a few bucks.
- Mix and match products: The most expensive item may not be of high quality, so don’t go by cost there are many products that offer value for money. You can spruce up items with concealed lighting and other purse-friendly alternatives.
Renovations can be partial or complete but it adds great value to the house and the people living in it. Ensure that you plan and execute it properly to achieve the result that you are looking to get out of this project.
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