May is National Home Remodeling Month, a time of the year when many may daydream about sprucing up their home to gain equity or resale value, or simply explore ways to find more enjoyment from their property.
So whether you just bought a house or you have lived there for a while, the fastest way to increase your home’s value is by planning.
According to the National Association of Realtors, many homeowners find the idea of a remodeling project too overwhelming. In fact, 35 percent of homeowners in the nation said they would rather move than remodel their current home.
Yet, after completing a remodeling project, 75 percent of homeowners said they have a greater desire to be in their home, and 65 percent say they have increased enjoyment in their home, according to the association’s 2017 Remodeling Impact Report. Also, 77 percent feel a major sense of accomplishment when thinking of their completed project.
Realtors also understand that homeowners should undertake these projects one room at a time. Homeowners can harness the energy that comes from new ideas and still be smart when you make those improvements. Make the commitment, and do not tackle more than you handle at one time. Whether it’s a simple coat of paint or knocking down a wall, by tackling one room at a time you keep projects achievable.
Clean and de-clutter first. Making a clean house a priority does several things. First, you stay on top of any maintenance issues, spotting potential problems before they become expensive ones. Secondly, you don’t allow dirt and junk to build up over time.
Furthermore, de-cluttering is a form of cleaning. Just as dirt builds up, so does clutter. Don’t waste money moving your junk around. Just get rid of it.
Adding a bathroom. The desire to improve livability, especially as a family grows, often leads to home renovation projects. According to the survey, 6 out of 10 homeowners said they have a greater desire to be home since adding a new bathroom, and nearly 80 percent of owners feel a major sense of accomplishment when they think of their project.
Complete a kitchen renovation. As one of the most-used rooms in the home, consumers oftentimes draw up their plans for renovating their kitchen first. Ninety percent of consumers have a greater desire to be home since renovating their kitchen. The top reason for renovating the kitchen was to upgrade worn-out surfaces, finishes and materials, the report shows.
Renovating a closet. A dream renovation for many consumers, renovating a closet to improve organization and storage was the top reason for half of homeowners who flipped their closet. Seventy-one percent of homeowners have a greater desire to be home since completing their closet project, and 65 percent have an increased sense of enjoyment when they are home.
A new fiberglass front door. Consumers have energy efficiency in mind for many renovation projects, with over 40 percent choosing to install a new fiberglass front door in their home. Consumers find that the most important benefit is better functionality and livability, as well as durable and long-lasting results, materials and appliances.
Adding curb appeal counts. Walk across the street, turn around and ask yourself, “Does my house have curb appeal?” If you have a nice curvy walkway, accentuate it with flowers or lanterns. Remove any dead or unhealthy plans and replace them with fresh, new plants and blooming flowers.
The 2017 Remodeling Impact Report surveyed both Realtors and consumers who have completed remodeling projects. The report explored homeowner’s reasons for remodeling, the success of certain remodeling projects and the increased happiness found in the home once a project is completed.
Most importantly, you need to always keep your “why” in mind when remodeling. Are you making changes for purely cosmetic reasons or are you looking to add functionality to your home? As a Realtor, I want to encourage you to keep resale value in mind, because nobody knows what the future might hold. And nothing is worse than having to redo a remodel just to make your home an easier sell.
Written By: Victoria Reviel
Date: May 11 2018