Considering a remodeling project? There are lots of great reasons to do so. Remodeling offers a huge potential range of benefits. If you’re thinking about remodeling part of your home, at least one of the following benefits of remodeling is likely to trip your trigger:
- Modernize: Is your home getting a bit long in the tooth? Happens to every home eventually. But though your home may be old, it doesn’t have to look old, or seem old. By renovating, you can give any portion of your home a facelift. And it’s not all about looks. In the process of making your home look better, you can also make it more comfortable and enjoyable.
- Boost Curb-Appeal: You may not be planning on selling your home anytime soon. Maybe you hope to never sell your home. But the future often takes unanticipated twists and turns. So never say never. And if that time does come, and you decide to put your house on the market, any renovations that you’ve made will likely pay off big-time in boosting the salability of your home.
- Value Bump: No, you probably won’t get back every dollar you put into a renovation project if you sell your home. The value returned from renovation projects isn’t that good. But it’s not bad! Especially for certain projects like basement renovations, you can expect to recoup a major portion of your investment if you sell your home. And in the meantime, of course, you’ll be enjoying all the benefits of the renovation. Sort of a double-dip!
- Lower Living Expenses: In many cases, a home renovation project can take a significant bite out of your monthly expenses. Utility bills, for example, can be slashed by upgrading the energy efficiency of your home – both through upgraded appliances and modernized insulation techniques and materials.
- Seize the Moment: Interest rates are historically low. So if you’ve been thinking of renovating, and will need to finance the project, now is the time. In fact, now may be the best time for a long time to come.
One Other Great Reason…
The benefits above are all very practical motivations for launching a remodeling project. But your motivation doesn’t have to be particularly practical. Perhaps you’ve just always wanted a luxurious bathroom designed to your specifications, and now you can finally afford to make that dream a reality. Or maybe you just really want a renovated basement with a home theater or a family room.
Don’t worry, though; if your motivation for wanting a renovation is more whimsical than practical, you’ll still get all of the practical benefits from your renovation. But don’t let that spoil your fun!