Home renovations are costly, time-consuming and messy. Still, many people choose to renovate their homes for a variety of reasons. There are almost as many reasons to fix up your home as there are projects to choose from. Here are the top reasons for renovating your home.
1. To increase your comfort or enjoyment of the home.
This one comes first for a reason. Although there are many good reasons to renovate your home, your own comfort and enjoyment are important factors that shouldn’t be overlooked. If you renovate solely based on how it will impact the future sales price down the line, you may end up living in a showplace that doesn’t feel like a home. Your comfort and enjoyment are more important than what improvements will make the most money when you eventually sell.
2. To fix a safety issue.
Some home renovation projects just can’t be put off. Electrical problems, roof leaks, or a crack in the foundation are some problems that must be taken care of to keep your family safe and prevent catastrophic or total loss of the home.
3. To improve the home’s value.
If you plan to sell the home within the next few years, you may want to renovate some or all of it with an eye toward getting the most you can when you put it on the market. Some projects that have the best immediate return are opening up the main living space, replacing the front door, and updating the kitchen or bathroom.
4. To upgrade the home’s function.
Maybe you need more space, or a second bathroom would make things a lot easier during those busy mornings. Maybe your husband wants a man cave, or you would like a deck or a patio for outdoor entertaining. Renovating so that the home functions better for the residents is a good idea, as long as the upgrades don’t hurt the home’s value or decrease usable space.
5. To increase the efficiency of the home.
New windows, a heat pump, and added insulation are examples of improvements that can decrease energy costs and pay for themselves over time. More efficient homes are also more attractive to buyers if you want to sell since they know costs will be lower on an energy-efficient home.
6. To update the home’s style.
An older home can have a dated look that makes it less attractive to buyers or can look more plain than upscale. Updating your home’s style can be a whim based on new trends or a way to prepare a house for sale. The best bet is to use timeless styles that send the message of sophistication.
7. To prepare the house for sale.
When the main objective of renovations is to sell the home, choices should reflect what is most likely to help with the sale. Neutral colors, upgrades that add value, and fixing any cosmetic or functional problems will help get the house in tip-top shape for resale.