Most people already think of remodeling as a positive, but may not be able to say exactly why. Others think that it sounds like too much work, and besides, what are you supposed to do in the meantime while your house is torn apart?
If you live in an older home, chances are that you may have thought about remodeling at some point. But how do you really know it’s time to remodel, and is it worth all the work?
If you’re quickly growing out of your current space, or if you’re finding that its functionality is somewhat lacking in the stage of life you’re in, then it may be time for a remodel.
Here are a few reasons why remodeling is a good idea and a good alternative to buying a new home
Get the Features You’ve Dreamed Of
The first (and biggest) plus of remodeling your home is that now you can put in all those features that previously you had only dreamed of. From the number of bedrooms and bathrooms to accessing the backyard yardscaping, the world is your oyster.
Depending on your budget, of course. But even there you may be surprised. The nationwide average for home remodeling runs at $15-$60 per square foot, although that will of course vary depending on what you’re having done.
So think big, do some dreaming, and then call and get a couple quotes. Even if you can’t have every feature you want you’ll likely still get at least a few.
Lower Your Energy Bills
Here’s something you don’t think of everyday. Remodeling your home can save you money.
Save you money in the long run, that is. But thanks to today’s constantly evolving technology, there are multiple ways to make a more energy efficient home, saving you money in the long run on utility bills.
Remodeling is a great opportunity to put in new insulation or seal off spaces that are prone to heat and cool loss, such as windows, garages, and attics. You may also want to consider putting in solar panels. Not only will it be a great money-saver in terms of electricity, but you can also get substantial tax write-offs too.
Add Value to Your Home
Another great reason to renovate? Increase the resale value on your home.
This will, of course, depend a lot on the project(s) that you’re embarking on, but there are a good number of home renovations that will pay off. Kitchen and bathroom remodels, for example, usually pay off. Even doing a minor kitchen remodel you will usually see a 75% return on investment.
And you don’t necessarily have to put a lot of money in to get a lot out, either. You can usually list areas of your home as newly-renovated on real estate listings. It’s also likely that renovations may make the time that your house does spend on the market shorter.
Make Using Your Kitchen Easier
One of the areas in a home that is most likely to suffer from being outdated is the kitchen. Older kitchens especially are simply not as functional as modern ones. Remodeling can make you proud of your home and make cooking in your kitchen a joy again.
Remodeling can allow you to increase storage space and improve functionality in your kitchen. Older or out-of-date kitchens often make cooking a chore because they don’t have enough room for modern appliances, and the small storage areas can make finding ingredients a constant challenge. Try adding a kitchen island and storage space in new shelves or cabinets.
Make Your Home Fit You
And what’s more exciting than having a house that fits you? A remodel will allow you to customize every area of your home, not just your kitchen. Your home will not only become a more enjoyable place to live, be, and relax, but renovations can help it reflect your unique needs and style.
Add Functional Space to Your Home
Many homes, especially older ones, are ill-adapted to our modern lifestyle. Sometimes they don’t have enough storage space, sometimes the bedrooms are a little too small, and sometimes there’s no in-suite bathrooms.
Whatever it is, remodeling will help you to not only increase the square footage of your home, but increase its functionality as well. If you are close to retirement age, remodeling for accessibility is often something to give serious thought to, since mobility generally decreases with age.
Ideas include: adding linen closets or a laundry room, finishing a basement or attic space, putting down new tile or other flooring, or updating kitchen appliances.
Save on a Mortgage
Besides making your home potentially more energy efficient, remodeling can save you money because it may mean less maintenance costs down the line. If your house is older, you can expect to be putting money into it for repairs and upkeep on a regular basis. It just happens.
But the beauty of a remodel is that you can forgo this step. If you have a part or area of the house prone to breakage in some fashion, it may be wise to go ahead and update it before the repairs get too costly.
Stay in Your Neighborhood
And finally…the best thing about remodeling? You don’t have to move!
Moving can be expensive, even if you’re staying local. By the time you’ve added in all the costs of renting a truck, hiring help, and the time spent packing and unpacking, moving costs will easily reach a couple thousand dollars. Plus there’s always the gamble of looking for a new home and wondering if you’re going to find something you like in the neighborhood.
And speaking of your neighborhood…if you love your current neighborhood and you’re happy with everything else about it, remodeling may definitely be the way to go. Many times a location can be just as valuable as the house itself.
Beginning a remodeling project on your home can be new, exciting, and a bit intimidating, but once you actually get some quotes and start drafting some plans, you’re sure to enjoy the process.
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