Your walls are cracking, there’s mold on the baseboards, the lead paint is chipped and dated from groovier eras; it might be time to consider some home renovation. As homeowners and property investors, making the decision to renovate can increase property value, equity, and upgrade any antiquated home, apartment, or complex.
With the increase in housing markets across the country, everyone from homeowners to renters are seeking places to live at unprecedented volumes. This makes for prime opportunities to renovate and upgrade properties for maximum profits and modernization, either for rental purposes or your own home-living standards. While the market can motivate many to begin their home renovations, so can visible deterioration throughout the house. Consider some of the following factors when considering the decision to renovate your home.
The visible eye-sore of rotten wood or falling shingles fuels many a homeowner to begin serious thoughts of renovation. While not just an eye-sore, rotten wood can foreshadow further issues within the structural integrity of your home. Internal leaks or gaps can allow saturation within wood, threatening the general stability of the interior framing. As more damage continues without treatment, houses risk collapse of floors, ceilings, or walls. If you notice uncharacteristic bulges or sagging throughout your home, you’ve answered the first important question of when to renovate your home—now.
Homes without damage aren’t exempt from the thought of professional renovation. According to the National Association of Realtors, the average cost of a home has now reached $271,300, which means money can be made on existing homes with the appropriate upgrades. Modern improvements can drastically improve energy efficiency while providing green energy tax credits. Whether you plan on keeping your home, renting it out, or selling at the appropriate time, paying less for more can be an equally critical factor when choosing to renovate your home.
For homeowners needing extra space, added rooms and additions can provide the necessary extension without having to search for new homes. This step is far more involved when approaching home renovation, which makes finding a general contractor a top consideration. Not only are general contractors equipped with the necessary licensing, knowledge, equipment, and background to adequately develop this space, they have insurance to cover damages, injuries, or accidents while on your property. Before hunting on the market for new homes, consider extra square footage as part of your home renovation questionnaire.
Realtors say it best when they refer to curb appeal as one of the most influential factors in home compatibility. As one of the most important factors to potential buyers or homeowners in general, having an aesthetically pleasing home can add the necessary feng-shui a home deserves. Adding porches, decks, new paint, or new roofing can bring a seemingly dull house back to life with the right touch. Specialists can create 3d renderings of your property to provide visual potential from old to new, while also estimating increased value to your home. Are you satisfied with the curb appeal of your home? If not, it’s probably time to consider the leap to home renovation.
Whether you’re considering aesthetic or structural improvements to your home, renovation under the right hands can revamp any aging unit. Whatever your reasons may be, first consider the scope of your project and the planning required to tackle each portion responsibly. As the Property Brothers have said, “It’s like grocery shopping when you’re hungry—it’s a bad idea. You don’t want to jump in and start renovating your house because you know that there’s a need. You’ve got to plan.”
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