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5 Top Reasons to Invest in a Home Renovation

property value
6 Remodeling Ideas To Increase Your Property Value
January 25, 2020

About the Author:
Chris Woodard is the Co-Founder of Handle.com, where they build software that helps contractors, subcontractors, and material suppliers with late payments. Handle.com also provides funding for construction businesses in the form of invoice factoring, material supply trade credit, and mechanics lien purchasing.

Walls, ceilings, and foundations can succumb to wear and tear. Design aesthetics come and go. Wiring, plumbing, and guttering may break and need repairs. Regardless of how old your home is or how it looks, there is always a need for a home renovation. Home improvement projects can give tremendous benefits not only in terms of fixing what needs to be fixed but also in increasing your property’s value. Of course, many shy away from taking on huge projects because of the challenges that come with it like finding a reliable contractor with a good completion and lien record, and the financial investment renovation requires. However, when done right, the efforts and costs pay manifold.

If you are on the fence about starting a home remodeling, here are some reasons why renovating your home is a worthy investment. 

1. Improvement in comfort and livability

The primary reason why you need to consider a home remodeling project is to increase the comfort of your family living in it. A cramped house does not provide much room for furniture and space to move around in without any restrictions. A crowded kitchen makes cooking unenjoyable and a tiny bathroom does not make for a feeling of comfort. 

Adding more room to your home frees you from all of these restrictions and even adds aesthetic value to your home. If you have a growing family, you can finally give your children a space that they can call their own. You can have an extra room where you can entertain guests or even host parties for your family and friends. If you have any hobbies that you can’t pursue because of a lack of room, a home remodel will change that. Finally, many homebuyers look for spacious homes, meaning you can potentially get a lot of value from your home should you choose to sell it in the future. 

2. Reduction of home maintenance costs

Home remodeling can also reduce maintenance expenses. The cost of home maintenance usually increases over time, even exponentially, as many parts of a house are exposed to wear and tear. These are your roofs, gutters, pipes, drainage, doors, and windows, which are subjected to the elements and can break down, resulting in costly repairs. 

home remodel

A home remodeling project is the best opportunity for homeowners to address parts of their homes that need repairs. And even when they are not apparent, a home remodel will reveal issues that homeowners may not easily find. By fixing these issues while their homes are being worked on, they can virtually save on both present and future repair costs. 

3. Personalization

Renovating your home provides an opportunity to transform it in the way you prefer. As trends change, so too does your taste. You may feel that your home’s design is outdated or no longer reflects your personality. And since you and your family spend a lot of your time within the confines of your home, renovating it to suit your taste will provide a boost to your quality of life. 

4. Lower energy costs

With the increasing cost of utility expenses, homeowners should consider a home renovation to reduce utility bills and save money in the long run. One of the goals you need to have in your home improvement project is to increase your home’s efficiency. You can upgrade your insulation, replace drafty windows and doors, and swap out your appliances for energy-efficient ones. Consult with a professional home improvement contractor to help you identify which renovations can provide you with the most value.  

5. Boost in your property’s value

home remodel

You never know what the future might hold for you and your family. Your home’s space may no longer support a growing family or you may need to transfer due to your work. Even if you don’t have any reason to sell your home just yet, it doesn’t hurt to get the most out of your investment, and home remodeling can boost the value of your home. Adding more space, renovating bathroom and kitchen fixtures, and even having just a new splash of paint can boost your home’s selling potential and give you a large return on investment. 

When property owners think of home remodeling, many imagine a long and tedious process, not to mention high costs. However, starting a home improvement project is quite exciting and the benefits it provides far outweigh the costs. As long as you consider which home improvement projects can provide the most value and hire a reliable home improvement contractor, you will be one step closer into transforming your home to the one in your dreams.