Homeowners often remodel their homes to enhance their comfort and quality of life. However, when one hears the word remodeling one may either feel excited or shudder at the mere thought of it. But whatever your thoughts may be on this topic, your house will require a remodel during your time.
Surveys indicate that at least 87% of homeowners remodel their homes at least once. Several reasons are associated with why people remodel their homes. Most of them concern the general enhancement of the aesthetics and current living conditions.
Remodeling could offer a fresh look to your home. It will also improve the aspects that need fixing. However, this process is more challenging. There are multiple facets to consider such as finances, time, availability of the contractors, and materials among others.
So, do you remodel or not? If you are indecisive, you have come to the right place. Today, we will talk about several upsides and downsides associated with remodeling your home. Then, you could decide what would be best for your home!
Upsides of Remodeling
Remodeling could be the best decision you ever made if you have access to reliable and trustworthy contractors. Most residential architects when asked a question about remodeling tell clients to hire dependable contractors. A residential architect can redesign and help guide, but it is the contractor who will take the final steps.
Let’s talk about the details!
Remodeling Could Be Cost Effective
This is a professional tip for all homeowners. Before you decide to remodel your home, plan your budget. Residential architects suggest that renovating a home that is less than 1000 square feet could cost approximately anywhere from $80,000 – $200,000 depending on the scope or your project.
Exceeding their budget is a fear most people have. And when it comes to remodeling, it will cost less than buying a new house. However, if you are not entirely sure about remodeling the entire house but want a change, you could go for DIY tutorials. But ensure safety.
Save the Cost of Moving
Renovating your home is generally a better idea than selling your home and moving. This way you will avoid the stress of purchasing a new property and all the associated costs. Making your current home better with some affordable renovations will save you money in the long run.
Increase the Value of Your Property
Renovations are one of the most efficient ways to increase the value of your property. Investing in a few upgrades in the kitchen and bathroom could fetch a higher price for your property.
Installing a new roof could also potentially boost the value of your property. Having your roof repaired could make your property more attractive, helping you sell it faster and save money. Additionally, insulating your home is one of the most sought-after renovation tips that residential architects undertake. It offers the maximum return on investment (ROI). Find some great info on return on investment by clinking this link!
Improve the Efficiency of Your Home/Lower Energy Bills
Another benefit of home renovation is making your home more sustainable and environment-friendly. Improving the efficiency of your home could also result in lower energy bills. For instance, in New Jersey, when it comes to electricity rates, you could compare them before you decide.
Investing in sustainable alternatives may appear costly upfront, but you will be saving a lot from a broader perspective. By insulating your home, you are almost saving around 15% to 50% on your cooling and heating bills.
Improve the Quality of Your Life
Some houses can be quite impractical. You may have three bedrooms on the first floor but only one bathroom. Waiting in line could become a hassle. If you decide to remodel your home and think that an additional bathroom on the top floor could be useful and budget-friendly, then go for it. The remodeling is to make the house as functional as possible for the users.
During renovations, residential architects recommend converting all unused space into adapted interiors with a purpose. You may have an empty corner in the living room that could be converted into a breakfast nook. So, why not go with it?
An energy-efficient home could attract several tax benefits. Installing a solar panel or solar water heater would benefit homeowners to save up on costs. The authorities also encourage homeowners for these upgrades and in return often provide them with better tax packages.
Downsides to Remodeling
Besides the upsides to remodeling, there are several downsides too. For the remodeling to work, you will require a contractor and that is the challenge. Finding an efficient contractor is a tedious job, especially if you do not have the budget for it. Additionally, remodeling halts your daily life.
Here are the details!
Remodeling is a Time Consuming Job
By the sound of it, remodeling is great, but it will affect your day-to-day life. You might not have access to hot water or the construction sounds may bother you during calls. Get ready to have your life disrupted for a few months.
You might even have to temporarily move to a new place and that gets even more stressful if you have a family. A simple remodeling of the kitchen takes somewhere around seven to ten days. As the number of days keeps on increasing, so will the budget.
Complete Remodeling Can Get Tedious
Some homes need a complete do-over and generally, that is not the wise choice. Remodeling should be done in parts to avoid spending in bulk and the stress associated with it. In complete renovations, people end up paying more than they would need to purchase a new house.
Hence, buying a new home is more advisable than remodeling every corner of your house. You will end up investing more money if you are going for the option of a complete remodel. However, if you love where you live it may be worth the aggravation!
You Might Be Paying for Two Places at One Time
If the remodel requires you and your family to move out temporarily, you might have to rent a new property or stay at a hotel. In either case, you will spend more money. Before you start with the remodeling, factor this into your budget.
If you are on a budget, you may want to consider what other alternatives are there if you are not willing to accept this additional expense.
To Remodel or Not to Remodel Your Home? What is the Wise Choice?
Here lie the difficult questions. On one hand, you want your house to have some upgrades, but on the other hand, you do not have the time to invest. How do you go about this?
As we said before, your house will undergo a remodel at least once in your lifetime. So, might as well be prepared for it when the need arises. Ask a residential architect, sit with them and get your hands dirty.
Of course, you will need the trifecta of time, money, and energy, but the remodel has more advantages to offer. We would recommend the answer is to REMODEL!